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New Funding Methods For A New Age In Business

Monday, January 5, 2015 by

kickstarter

Starting a Small Business

So you’ve decided you want to start a small business of your own; you’re ready to stop working for others and start working for yourself. This is great! Yes, you get to set your own hours, and yes, you get to do what you would like to do; however, when starting up a business of your own, you need to have the available capital to do so, and the time it takes to get it done. Remember, Rome wasn’t built in a day!

 

Ways to Accomplish This

You’ve decided to start your business online. There are lower associated startup costs, and you don’t have to wear pants to go to work, both of which are decided bonuses! The problem is that it still costs money. You need a hosting plan, and you need up front capital to be able to get your inventory started, regardless of whether you are making something yourself or whether you are selling pre-made, manufactured products. How would you go about doing this if you don’t have the money saved up yourself? Well, there are several ways. You could find an angel investor, a set of investors, get a loan from the bank, or you could turn to the latest in funding – investment sites like Kickstarter.

 

Kickstarter

Kickstarter is a site that people may go to in order to present their ideas to the general population. Individuals read through the proposals, some of which include bonuses to those who donate x amount to their cause, and then donate. Yes, that’s right, people just give you money because they like your idea and want to see it come into existence.

Now keep in mind that your idea must be a good one, as defined by the population at large, and that not all Kickstarters work. If the proposal is not written well, the likelihood of gaining funding decreases dramatically. Included below is a link to a very helpful article that discusses the progress of one small business; how they took their idea from just an idea and turned it into a successful business using funding gained through Kickstarter. That’s right, someone is being helpful just for the sake of being helpful. This increasing amount of transparency in companies serves to benefit you in that it teaches you one possible path to walk, providing you with the information necessary for your business to potentially succeed in the same manner.

 

Getting Going

While not all Kickstarters are a success, as we have mentioned, there are those that have the potential to become quite successful (such as Amanda Palmer’s ground-breaking Kickstarter campaign). While it is true that you must obtain the knowledge yourself instead of building on top of the knowledge of others, you are able to take information, such as this, and use it as a means of working to increase your knowledge base, providing you with insight on how to succeed, and the different pitfalls to avoid. So, what are you waiting for? Get going! Start your own business, and start reaping the success of your own hard work.

For more information: https://www.kickstarter.com/projects/angeliatrinidad/passion-planner-the-one-place-for-all-your-thought/posts/1067424

 

Image Source: Kickstarter.com. (2014). Start your project — Kickstarter. Retrieved 26 December 2014, from https://www.kickstarter.com/learn?ref=hero

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