Eight Ways to Fund Your Business
Are you starting your business and don’t know how to fund it? Well, it takes money to make money, so we’re going to share some ways to fund your business and work towards building your wealth!
Enjoy these tips shared within our membership community by Financial Advisor Erin Lyons!
Bootstrapping
Take the cash flow from your business and invest it right back into your company! Because you will only be using available funds, bootstrapping is a safe and stable way to financially support your business.
2. Friends & Family
Bank loans can get complicated, so borrowing from friends and family will make things easier on you! If you have someone in your circle who is able to invest in your company, take a loan from them to help grow your business.
3. Crowdfunding
In order to crowdfund, you will use your creative skills to create a campaign for your company. Your campaign will explain what your company does, how the funding you raise will be used and how contributing to your campaign will benefit the people who donate.
4. Grants
Get that free money, girl! It’s competitive, but 100% worth it. Simply receive the money, invest it in your business, and don’t stress about paying it back!
5. Angel Investors
Angel investors are looking for ownership equity and will take a risk by investing in your start-up business.
6.Venture Capital
In exchange for receiving 10x earning potential and equity stake, investment firms will fund companies that are just starting out!
7. Accelerators
Private investors mentor startup entrepreneurs as well as invest $15k-20k into their businesses. If you are looking for a community to join as well as funding, then this is the perfect opportunity for you!
8. Corporate Partnerships
The ultimate HIDDEN GEM! This is great if you’re looking for a corporation to sponsor your fresh, new business ideas!
We hope you take advantage of these useful tips to help get the funds your startup needs! Let us know what you think and be sure to check out other blog posts for more helpful resources!