Get ready to show the world what you've got! Here are some creative ways to raise money to launch your brilliant new business.
Having trouble getting your ideas out in front of the world?
If you watch NBC’s Shark Tank and feel like the only difference between your great idea and the people pitching to the Sharks is the number of zeros in your bank account, then you’ll love these creative ideas to raise the money to launch your company.
Related Article: Raise to Launch: Using Equity Crowdfunding to Raise Startup Funds
Save Your Money
Okay, this one isn’t that creative, but it’s the cornerstone of building a bright future for you and your company. If you can take some money from each paycheck and place it into a savings account, you’ll be in a position to help build your brand a lot sooner.
Even if you don’t build your company using these funds, the added cushion to your emergency fund will be something that gives you more stability and focus as a leader.
Start Work on a Low-Cost Project to Raise Funds
Building a company requires capital. However, there are some business types that can be launched with very little up-front cost.
If you have the technical background, or the willingness to apply yourself, launching an online company (blog, E-commerce, etc.) can be a great option in the short-term.
Use Equity to Bring in Partners and Drive Down Startup Costs
Your skillset and perspective as an entrepreneur are limited to your past experiences in life.
Building a team to help create your company will help maximize your chances for success. If you’re low on cash, don’t be afraid to give us equity in your idea or company.
The value that a potential partner brings to the equation will more than make up for the slice of your company they require. Just don’t forget to be selective when bringing on a partner you can trust.
Related Article: Will Work for Funding: 7 Ways to Finance Your First Small Business
Quick Money Equals Risk
If you’re risk averse, you probably shouldn’t be going down the path of launching a startup. However, if you’re up for the crazy rollercoaster ride that is the world of entrepreneurship, then why not go big and try to raise money quickly?
One of the hottest trends on the cutting edge of finance is cryptocurrency. The most popular form is BitCoin. While you can’t really launch a company solely with a stash of bitcoins, you can take advantage of the emerging market to build some extra startup capital.
If you need to raise capital quickly, and are willing to take the risk that you may lose all your money, then trading binary options with Bitcoin is an exciting new frontier for capital growth.
The beauty of a binary option is that you can quickly grow your investment. If you guess the trajectory of a future stock price correctly, then you’ll make a sizable return on your investment.
Unfortunately, if you’re wrong, you’ll lose all of your initial investment. So, while the returns can be actualized very quickly, so can the loss of capital.
If you have a revolutionary idea that you know everyone will love, why not share it with the world and let them help you build the necessary investment to get things moving?
Kickstarter is a crowdfunding platform where entrepreneurs can share their idea with the world.
If people feel that the product or solution is something they would be willing to buy, then they can pledge funds to your project.
In return for their pledge, if the campaign raises its goal, they receive the product or service at a discounted price. In some ways, this is like showing the world a new product and then taking orders in advance so that you can build the exciting new product for them.
Related Article: Inside Equity Crowdfunding: The Quire Difference
For an example of how successful a Kickstarter campaign can be, take a look at Pebble. This simple, elegant smartwatch for iPhone and Android users raised more than $10.2 million from more than 68,000 people willing to make a financial pledge of support.
In return for their financial pledge of support, the early-adopters/investors received a pebble smartwatch at neatly 50 percent off retail.
The Pebble was the most successful Kickstarter ever. In total, there have been more than 100,000 successfully funded Kickstarter campaigns in categories ranging from fashion and design to robotic technology.
In the end, if you have a passion to build something great, the only person that can defeat you is yourself. If you’re willing to go the distance and continually learn along the journey, you’ll eventually achieve success.