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How to Fund your Startup

So you have a great idea, and that idea eventually turns into a business plan. Then what? You need funds to make your idea into a reality and turn that business plan into a real business. There are many ways to gather funds for your Startup, whether they are traditional or creative.Borrow from your family and friends The people closest to you will be the ones most willing to take a risk on you and invest in your idea. This can be a great way to raise funds. You can also turn your blood money lenders into part owners- this gives them an emotional stake in the business and will make them more likely to invest. Angel investments or venture capital: Before you approach either of these, make sure you have analyzed your business model from top to bottom. Things to master before you think of approaching an angel investor or VC: your general pitch, explaining your business plan, your technical model, and market validation. Startup Competitions: There are many business plan pitch competitions out there waiting to hear about your startup.  These competitions often provide seed money to get your business started. If nothing else, this helps you gain experience in presenting and gives you great practice pitching your idea. Check out these. Sell your things: The last time I moved, I greatly underestimated the number of boxes I would need and I stood there wondering how I had come to acquire so much stuff. I made a promise to myself that from then on, I would sell anything I haven’t used in a year or longer. Look around, and clear the clutter. Cleaning up and clearing out has been said to give you mental piece of mind, and you’ll not only be getting that, but more space to work and more money to work with. Business Accelerators and Incubators: Business accelerators exist in many industries, but are most prevalent in tech industries. These programs not only provide you with capital to get started, but offer access to seasoned entrepreneursand VC’s that can provide you with invaluable advice and mentoring. They also provide access to services like legal and hosting. Check out these: ·       Y Combinator in Cambridge, Massachusetts and the San Francisco Bay Area ·       TechStars in Boulder, Colorado How did you fund your Startup? Please share by posting a comment.

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