Technology and entrepreneurship go hand in hand these days. If you take a look at most modern businesses started up over the past several decades, you will notice the vast majority have at least some kind of technological bent or another. Nevertheless, while the idea of starting a business might have changed over the years, one thing has steadfastly remained the same… the need for starting capital. This post will explore a few different ways that those with some technological knowledge can raise the money they need to get their business off the ground and from business plans into the real world.
Hustle Until You Succeed
If you are locked out from the usual ways of raising funds (bank loans etc.), then you might simply have to make the money yourself. The internet has made it easier than ever to make money online…as long as you know what you’re doing. Let’s look at a few exciting opportunities open to those willing to put in the elbow grease required to make it work.
Trade Securities
Trading is often considered a way to build wealth slowly and over time. However, you can still make money relatively quickly by trading particular securities. Day traders who dabble in the forest market can often find themselves accruing a significant war chest. When you become good, you can even make additional cash by becoming a forex affiliate and recommending the platforms and tools you use! Aside from forex, though, you have stocks and crypto (although it might be worth avoiding this for the time being) and even government bonds.
Freelance
If you’re good at something, why not market yourself as a professional? Platforms like Fiverr and Udemy offer a great way to immediately get yourself up and running and hopefully make money. Moreover, you might learn a thing or two about marketing yourself, which will transfer over when you set up your own business.
Consider Crowdfunding Platforms
Crowdfunding is nothing new, but it could be a fantastic way to get enough capital to begin trading. You will have to offer something unique and give the donors different rewards based on how much they donate. For instance, if you are building a brand of sportswear appeal, you could offer the highest paying donors a secession of every time you will have for sale.
Explore Peer-To-Peer Lending
This option might sound similar to crowdfunding but differs because it acts more like a traditional loan than a donation. However, P2P lending differentiates itself from banks by connecting you with real people willing to lend you money. You work out the repayment plan and interest rates between each lender and pay them back according to your own contracts.
Use The Web To Find Angel Investors
An angel investor might very well be your best option if you want to get started immediately. These are usually individuals or investing groups who provide funding to nascent businesses. With the power of the web, you now have access to a range of websites that allow you to connect directly with those willing to take a stake in your company and offer advice. Just be aware that your business needs to have a comprehensive business plan and a genuine chance of success to attract top investors.
Raising capital for a new business is typically the most challenging part of the entire endeavor. However, using the ideas here, you should be able to harness technology to your advantage and obtain what you need.
