3 WAYS TO GENERATE FUNDS FOR YOUR START-UP

1. Be Passionate About Your Idea

Founders of start-ups usually have a passion for their creations. They believe in the product or service they hope to offer. They believe the new product will improve existing products or will be able to solve a problem better than the current product-in other words. But how passionate are they? Are they willing to hear “no” over and over and over again?
In the beginning, you will have to raise your capital as a founder. You can do this by using your savings, borrowing money from others, or borrowing from friends and family. However, you must be prepared to demonstrate that you believe enough in the product/service to invest your own money. It will be your responsibility to get the business off the ground.

2. Take Help From Friends & Family

You have a safety net in your family and friends. They are likely to believe in your abilities and care about your dreams. Consider reaching out to your extended family, friends, and acquaintances to see if they help you with your start-up capital. Tell them about your venture and your passion for it. Communicate effectively.
From your friends and family, you can quickly get a low-interest loan or even a loan that is interest-free. In the same way, as bootstrapping, this funding method does not require documents. However, it is possible to lose your friendship if the venture doesn’t go as planned. Tread carefully.

3. Pick Your Team

Most start-ups have little or no staff as a cost-saving measure — usually just one or two founders. The issue is not about whether a business has one or ten employees, but whether it has sufficient vital employees to cover its most important areas. If you develop the subsequent use of blockchain technology, do you have a blockchain expert on your staff? You must have an expert in the technology or market you are entering.
Another area is operating control. Investors want to know that you or your staff have developed policies and procedures to control the business and ensure their investment is not wasted. Your business has to have moved beyond the “fake it before you make it” phase or investors will not have confidence that your company is “a real business.”

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