So you’ve got an amazing idea and you want to bring it to fruition. Get in line.
There are tons of new startups every day — but if you don’t want to be in the 90% that fail, you need to be smart.
A big pain point for a lot of new small business is where to come up with cash. Strap in because we’ve got five tips to scare up some fast funding!
1) Two Heads Are Better Than One
There’s nothing wrong with going it alone, but if you want to grow fast, two heads might be better than one.
Having a second person who’s just as committed to the dream as you are is a huge asset. You can grow your capital by up to 30% with a partner.
There’s nothing wrong with tackling things by yourself, but consider teaming up to find fast funding.
Have you heard of crowdfunding? It’s a way to make your pitch to the masses.
There are a few crowdfunding sites, like Kickstarter for example, that can get you started. From there, you’ll sell yourself and your idea online.
People kick in whatever they can if they believe in you. You can even offer tiers of investment, promising goods or bonuses to those who donate a larger amount.
Be prepared to answer questions, explain yourself, and really work at it. Crowdfunding can be a source of quick cash but it still takes a little work.
3) Consider A Loan
You might think this is typical advice but sometimes stereotypes exist for a reason.
Don’t sleep on grants and loans. You’d be surprised how much you’re able to find once you start looking!
There are sites like Wire Lend that will match you with lenders who share your same vision.
4) Get Social
Social media is the current way to network. Why not use it to find fast funding for your startup?
Don’t know where to start? Try these ideas:
- Join a Facebook group for startup owners or for investors looking for a new business to support
- Use hashtags on Twitter to promote your idea and get a dialogue started
- Find mentors and investors on LinkedIn
- Pitch your ideas using YouTube
With so many different formats to express yourself with — posts, tweets, videos — you’re sure to scrounge up some cash.
5) Economic Development Programs
This one takes some digging, but it’s truly worth it.
There are tons of programs out there that are looking to fund small businesses. You have to be the right fit, though.
Loans are available for veterans, women, minorities, and many other groups through economic development programs. Take a look around and see which one works for you.
Find Your Fast Funding
Other startups might have financial woes, but not yours. With these tips and tricks at your fingers, you’re sure to get some green.
At the end of the day, your most important asset is you. Make sure you’re passionate about what you’re doing and invest in yourself to find success.
Now that you’ve got some ideas, get out there and get your startup running!