Money makes the world go round. And when you are a startup looking for investors to finance your idea or product, you realize it’s big money that will make your business go round.
But where does this money come from? Family and friends? Big risk. It’s not just financial risk that’s at stake here but emotional risk too. Besides, raising millions of dollars is just out of the question. Venture Capitalists then? Great idea but chances are only 1 in 100. You are lucky if VCs see a potential gold mine in your product while they’ll be double lucky if your business hits a jackpot!
Perhaps you’ll find inspiration in stories of companies that started small but are now worth billions of dollars. For instance, did you know that big name companies like Apple, Intel and Cisco were at the start turned down by many investors before some lucky entrepreneurs found potential in them? That’s right. The documentary Something Ventured (2011) tells the story of investors who made the intelligent decision of funding these ideas. Guess what, PowerPoint founder Robert Campbell, the father of PowerPoint, also went the VC way. We have lot to thank Dick Kramlich of New Enterprise Associates (NEA) for believing so strongly in PowerPoint!
Is there any other way of raising money? Yes, there is! Heard of crowdfunding? It’s becoming increasingly popular to raise money from groups of people, practically strangers, via the Internet and social media. With crowdfunding platforms like Kickstarter and Indiegogo, you can raise millions of dollars with just a few clicks.
So how do you decide which type of investor will be the best for your startup? What are the pros and cons of each? Empowered Presentations are here to empower you to choose the best option with their insightful presentation:
Every day a new innovation is being born. With the right investment, they can change the world. Without it, they may just never come to light. How did you get your business off the ground? Where does it stand today? If you have any success story, suggestion or advice for entrepreneurs out there, do share by commenting in the comments section below.