Funding and Raising Capital
The Power to Raise Money to Fund a Business
You do not need money to raise money for a business, you only have to be financially smart. Successful entrepreneurs like Elon Musk, Mark Zuckerberg have mastered the art of raising money. If you master this financial skill, money problems will be an issue of the past. If you have the wisdom and ability to raise money, you are one step to becoming successful entrepreneur.
Below are 5 ways to raise money for your business.
- Ideas
People give money to ideas not institutions. Raising money is a skill-one that you can master. If you believe in an idea you will definitely move heaven and earth to seek for resources that you will need to accomplish your dream. Narendra Raval the CEO of Devki Group of Companies is a testament to this. People give money to ideas not institutions. Money is an idea issue.
Access to financing highly depends on the viability of your idea. How viable is your business idea or project? Have commercial ideas that can generate revenue. Ideas are money generators. Ideas are the bedrock of wealth. When you present the right idea to the right people, money will follow you. Commercialize your idea and money will run after you.
- Strategy
Raising money is also a matter of strategy. You can come up with a creative unique strategy that will help you to generate weather. Your strategy should clearly elaborate how you will make money, manage it and reinvest it. The strategy should detail the timelines by which you will be able to break even and begin to make profits.
- Contacts
One of the under looked sources of raising capital is having valuable contacts. When you have the right contacts and you are able to develop quality relationship, you position yourself in a good position to acquire capital when there is need. You need to develop contacts with the right people who have the ability and capacity to finance you and your ideas.
- Influence
Influence is a powerful source of capital. Money is with people. If you can build credibility and influence people positively, gaining access will not be impossible.
- Loans
When taking a loan, you must know the best institutions in relation to the level of capital that you intend to seek. For larger financing banks are the best options. For medium investments you can seek the help of microfinance institutions.
