If someone tells you money isn’t always the answer to business-related problems, they’re straight-out lying. You need money to check off any objective from your to-do list – whether it’s to found a startup, launch a new marketing campaign, or simply keep your business afloat for another month.
Unfortunately, the traditional means of raising funds aren’t as viable as they once were. Sure, obtaining a business loan is still worth a shot if you have plenty of time to spare. But if you want to be realistic, you should seek other ways to raise funds for your business projects. After all, when it comes to business, you should never settle in your comfort zone and be brave to try new things.
Below is a short list of alternative fundraising strategies you ought to try:
Distant Family and Friends
As you read this, you may have approached some of your closest friends and family for money. What you need to do now is to check further and look for distant connections that might be interested in your company. Consider everyone you can think of – be it a college friend, your spouse’s cousin, or someone you met at a trade show.
Prioritize people who are capable of shelling out cash along with those who’ve shown interest in your brand. Also check your Facebook friends who liked your business page or bought your product before.
Just remember to keep your proposal simple and easy to understand, especially if you include laymen in your fundraising campaign. Here is a guide from SBA for more tips on how…