Entrepreneurship has been turning out to be a rage among the youth in the present scenario. In fact, no budding entrepreneur is ready to compromise with the less name & fame than Jeffrey Preston Bezos or Larry Page. We all have read the success stories of them, we know about their hefty assets, their super luxurious cars, and other valuables. But the efforts they put to reach the pinnacle of success should not be overlooked. For example, how they managed funds, resources, etc. should be taken into account if you want to be a successful entrepreneur.
Know About Some Incredible Start-up Funding Ideas
Apart from having a tremendous business plan, you need to have the incredible ideas to raise funds for your start-up. So, let’s discuss some start-up funding ideas to turn your awesome business plan into a viable start-up.
Business Loan/ Government Grants from Financial Bodies
If your business has a growth potential indeed and you know the art of representing your plan in an effective manner then there are some government and private banks which can disburse loan amount for your start-up. In fact, Indian government gives preference to young entrepreneurs with their ‘Start-Up India, Stand Up India’ scheme.
Get in Touch with a Business Incubator or Accelerator
Such platforms, like Sharda Launchpad, are the new black often created by the renowned universities to arrange funds for start-ups. The business incubator associated with Sharda University encourages the start-ups with a funding up to INR 40 Lakhs. Apart from the monetary help, the business incubators offer office consulting and facilities as well.
Capital investors are the professional bodies that invest institutional money in exceptional start-ups with exclusive insights. But you need to have a proven model of your business plan with all the aspects to approach such capital investors. They are the professionals and like to indulge in the investments for big opportunities only.
Initiate Online Crowdfunding Campaign
You must have heard about Kickstarter even if you just saw a dream of being the entrepreneur. The platforms like Kickstarter are the perfect place for executing crowdfunding campaigns where you invite the people to take pledges to pre-buy your products/ services, donate to your start-up, or qualify your name for a reward.
Pitch your Plan to Family & Acquaintances
‘Charity begins at home’. No angel or capital investor is going to trust your words with zero credibility of your business, even if your business idea is rocking. The primary sources of your funding are your family members and social circle. If they can’t help you with direct investment, they can be the true advertiser of your business.
Funding gives wings to your million dollar business idea and is essential for any business to prosper. Try one of the aforesaid sources with the perfect pitching of your business plan to raise funds. Don’t ever forget ‘funds to a business are like fuel to a vehicle.’