How To Collect Money for Starting A Startup
Starting A Startup relies heavily on the internet, but It basically still a business that needs maintenance and also money to support itself, and hence you need to make sure that you are able to collect money in order for your business to start growing. You can start accessing the money in multiple ways, but you need to have completed the prerequisite of the methods, which is to make the foundation of your business first.
People are usually heavily depends on the investors in the startup growth, and that is not a bad thing to do, since the investors are the perfect way to gain money for your business. But you need to understands that investors doesn’t like the founder to come empty handed to them, as they want to see you have come with the least amount of preparation you can have. This is why you need to invest in your ideas, to make the investors feel compelled to fund you when Starting A Startup.
How To Attract Investors
There are two kind of investors in the business world, which are the big investors and the small investors. The big fish is the one who has the large sum of money, and are willing to give you some in order to make your business grows. The small investors are usually the public which are collecting their own money via the fundraising platform. Here are 3 ways to attract investors, be it small or big.
- Tackle the common issue
The spirit of every business is to tackle the issue, and the more common the issue will be, the easier for you to sell your ideas. The public transportation startup such as gojek or uber has succeeded in tackling down the most notorious issue which is the availability of the decent and also comfortable public transport. You need to identify the issue, and make it as common as possible to make it look convincing.
- Master the art of convincing
It is imperative that you convince the investors , and hence you need to be able to convince the investors to make their investment in your company. It is not easy to do so, but the main principle here is, it must be exciting for them, since the investor will calculate their own risk factors. It is no doubt that so many people are eager to become the part of the big thing, and hence you need to make sure that you can convince them to onboard with your plan.
- Come prepared
This has been touched above, and the point is same, as you need to make sure that you have prepared the media or the instrument in which it will convince people to invest their money. If you are building an app based startup, then you need to show the app, and If you are creating the product, then you obviously need to make the product.
Explain In The Simplest Terms
It is very often that people will not understand your idea properly due to the technical terms or whatsoever, and hence you need to deliver your speech properly in order to make sure that your ideas are well received when you are Starting A Startup.