In the competitive world of smart technologies, many individuals are enthusiast about initiating a startup with their brilliant idea. But considering the facts and survey results of the past 5 years, it seems that many startup companies fail to survive even for 12 months. Shocking, isn’t it? But why really is that happening?
Considering the fact that the idea they are trying to realize is OUT-OF-THE-BOX, these influencers fail to convince the prospects into committed clients. One of the major factors that play a definite role is startup funding. You might have a great idea in your head, but if you do not possess monetary to realize the same into a living reality, you might just be wasting your time then my friend!
So let’s talk about a solution now. There are many options you can opt from where the funding can be realized into realistic subject matters:
Quite honestly, this is one of the oldest but wisest ways of looking for best investors for your startup. If you are confident about your startup idea and the profits it can grow in a few months or years, angel investment is a perfect platform of investors. Investors registered as angel investors are looking for a perfect pitch and they are all yours after that!
Related: How to scale up your startup?
The best solution to the funding issue is to possess enough money in your account. Such an option is known as Bootstrapping. In order to neglect and ignore the revenue sharing tactics, the easiest way out is to consider self-funding of your idea.
Sometimes creativity isn’t enough to help credit many zeros in your account. Sometimes you need to debit a few zeros from the account to realize the credit score later on. Bootstrapping is a convenient option when initial costing on your idea is small and result in better numbers and figures afterward.
Related: 6 mistakes that startup should avoid
I am sure that crowdfunding as a startup funding option is definitely an idea pitched by an enthusiast startup individual! This is one of the fresh options these days which is considered as a pre-order contribution from the crowd all over. One of the advantages of this funding option is that you receive funding from more than 2 partners at the same time.
With an idea like crowdfunding, one can realize the idea of marketing their startup as well as people invest in the idea after reading about the same on the crowdfunding platform. Just an idea not only helps you with multiple investors but the idea of a perfect marketing approach is rightly conveyed with the same.
One can apply for the commercial loan for a particular project or startup firm if your cibil score is decent enough. There are many domains in the commercial loan you can apply for in order to proceed with a good startup funding in your hand in order to initiate your idea of start-up.
Finance from NBFC and Microfinance firms
There are many finance companies that offer loan option for various startup ideas. If they get impressed with your business plan and your banking figures are not something that can upset your cibil, you have a good chance to go!
Sometimes just the idea of initiating a startup is not all you need. If the determination that you pursue is molded with good funding, you will no longer be the owner of an SME, but a large firm in no time!
I am sure that your potential and motivation cannot be shaken by a little storm; all that you need is a startup funding to thrust your idea into a huge success! So good luck with the same!