In India, entrepreneurs have to face several difficulties while starting a business. The most challenging task is to get funding in the initial days. By following the right strategies and planning, you can start a business and get funding. Time was when startups used to ask banks and relatives for funding. But, today there is a wide range of options to raise a Fund for your business in India. In this post, you will find some easiest ways to raise the funds for your startup:
Bootstrapping means starting a business without any external capital or help. Such kinds of startups support the growth of their company with by using internal cash flow and are careful with their expenses. It is the oldest and the widely preferred way of funding your startup. Today, most startups prefer bootstrapping over any kind of external funding that results in no equity dilution. However, it can be a great way to raise capital for the startup.
Find a naive investor
This is another interesting yet fruitful way to raise the fund. Most people have made great money by investing in real estate and their traditional businesses. Today, most of them are attracting towards Internet companies after hearing the success stories of Flipkart, and other players. If you ask such investors for funding, chances are they will say “yes”. But, don’t ever try to make them fool and find the investor who understands your market.
Strong work experience in your field
Some investors will only pay attention to the entrepreneurs who are a geek, specialist, Ph.D., and have plenty of research papers in their name. However, you must have innovation in your portfolio and a documented record of doing excellent work in your area of expertise.
Close circle of friends & family
Of course, your family and friends care for you the most. You can ask anyone in your friends’ circle and share your idea with them. Besides, you can convince them and make them your investors. You can accept their capital as debt or make them co-founder by offering some equity.
A true entrepreneur is the one who can make things happen even with the limited resources. And, don’t forget if your idea is unique, and you have an amazing product to serve the users, then no one can prevent you get the funding.