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Learning how to fund a start-up business can always be tricky, especially in uncertain times like these. But how can you reliably find investors to fund for a startup business while balancing your responsibilities as a budding business owner?
Below, we’ll go over some of the best ways to fund for a startup with ease. By combining a couple of these key pointers, you’ll have your business up and running in no time at all. For those of you who already have your business on its feet, check out Moo, which specializes in business printing and design services to help you market your company.
On a side note before we get to into it, if you’re a business owner looking to check your credit score, give TransUnion a look. You can easily check your credit score and point it in the right direction.
Also, if you’re planning on scheduling a few business meetings or interviews we highly recommend Acuity for all your scheduling needs!
Ways to Find Funds For A Startup Business
In order to raise funds for startup business ventures, you need to refrain from draining your cash flow. Managing your debt wisely is imperative to your business and personal success. You can use a debt manager like Tally to easily overcome credit card debt while still maintaining a comfortable lifestyle.
Another great way to make sure your business stays on track, particularly with so many people working from home, is making sure you have the right communication system in place. Check out GoToConnect for cutting edge tech that integrates all of your devices onto the same platform. Customers in the US can now save 50% on annual plan subscriptions through 4/30!
Have Your Own Finances in Order
Similar to the previous tip, it helps to have your own finances in order so that you can fund startup business ventures with ease. Make sure you’re sticking to your personal budget. At the very least, this will be great training for when you have to manage balancing your business’s expenses. Read up on personal finance whenever you can in order to solidify your financial foundation.
If you struggle to maintain and organize your business finances, consider hiring an expert. H&R Block is offering a small business finance service through their Block Advisors program. Block Advisors helps to maintain your taxes, bookkeeping and your monthly payroll. If finances are something you don’t have the time to maintain, this service is one every small business owner should consider.
One of the best ways to reliably fund startup business ventures is by adopting a long-term investing strategy. Making smart investments will help you reliably build your income and therefore business at a much higher rate than a traditional savings account. In addition, investing is important for your retirement funds as well.
Investing doesn’t just have to be money wise, you can also invest in people, like employees to help your start up grow! With ZipRecruiters help, you can hire qualified employees to expand and grow your business! Your employees or mentors can even help you connect to different networks which can ultimately help you expand your search for funds.
And make sure to check out MyCompanyWorks for help starting and funding your business.
You can think of your credit score as the key to outside funding. As you learn to fund startup business ventures, potential investors and banks will look to your credit history and rating as a testament to how reliable you are in a financial sense. Therefore, you should frequent sites like Transunion and MyFico to seek out and monitor your score. Or you can use sites like Self to build credit if you don’t yet have good credit!
Assuming your credit score is well balanced, you can seek out a bank loan or a line of credit to help fund your startup business expenses. Bank loans can help you get your feet off the ground, and you may even qualify for a discounted interest rate based on the nature of your business. Be sure to check out the Small Business Association as well for other potential lenders.
And every smart business needs a platform to manage all of their employees time clocks and hiring. Check out Homebase, a free employee scheduling tool, perfect for all small businesses.
Find a Startup Incubator or Accelerator
Finding startup accelerators or incubators like the popular Y Combinator can be extremely helpful for businesses just sorting out initial funding. If you went to college, you can also look to your university and see if they have any programs built to assist alumni. Generally, these organizations provide free resources and potentially funding to growing businesses.
Look for Outside Investors
As you might have expected, one of the best ways to fund startup business ventures is by seeking direct funding from outside investors. If you live in a metropolitan area, be sure to seek out local angel investors and apply to grants accordingly. In addition, it’s always wise to craft a 30-second, 2 minute, 5 minute, and 10-minute pitch just in case you find yourself crossing paths with other investors at networking events.
Create your own overview slideshow or video that can tell your brands story and explain why someone should invest. You can use tools like Animoto a video creation service and create your own video or slideshow today!
Look for a Federal Grant
There are a number of federal grants available for small businesses through sites like grants.gov. If you’re eligible, this is a great benefit to take advantage of as well as a great way to fund startup business costs.
You can also turn to crowdfunding to fund your startup business costs. Sites like GoFundMe can be used for funding anything from business or product services, to new inventions. Whatever your business is focused around, you’ll be able to seek out monetary backing to get your foot in the door.
Just like you, your mentors once had to seek out funding either from built up savings and personal investment or through outside investors. If you’re lucky enough to have business mentors, make sure you take advantage of their advice during this time. They may not be able to invest in you themselves, but maybe they’ll be able to point you in the right direction. Theres also plenty of online sources to help you as well.
There’s no right or wrong way to get your startup up and running. As you learn to fund startup business ventures, you’ll be able to watch your business grow and flourish as a result. Happy pitching! Good luck finding funds for a start up business.
With every business, developing a brand is important in targeting potential clients and customers. One way you can develop your brand is by having a strong social media presence. You can do this be starting by a YouTube channel or posting daily on places like Tiktok.
If you need help officially starting your company, whether its an LLC or a corporation, take a look at filenow for expert advice.