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Unlikely Places to Raise Money

You need to raise money for your company.

But the common paths of either (a) banks,

(b) investors, or (c) VCs, are not working out.

While these are the popular ways to raise capital, they are not the only

ways.

Raising money can be one of the most difficult

processes for an early-stage company.

Thankfully, there are alternative ways to gain

investment.

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NEED HELP RAISING CAPITAL ?

1. Participate in pitch competitions

Universities, business schools, and other organizations regularly host events for

entrepreneurs.

Winning one of these competitions can provide

much-needed capital without diluting equity and can also

attract other angel or institutional investors.

2. CrowdfundingWith the SEC adopting new

rules, you can now attract an entirely new pool of potential

investors.

Know exactly how you would like to crowdfund – through equity or through perks.

3. Gather Early AdoptersThe first customer is the

only validation you need. An early adopter that believes in your mission can pay to cover the initial costs of

your business.Just make sure that this

buyer does not take up all your resources and time.

4. Government grants

There is a considerable amount of public venture capital. Many states

run entrepreneurship programs that are more agile than their

federal counterparts.

Many of these are involved in socially responsible companies, as

well as advanced technology startups.

5. Create a side business to fund your

main businessThe Airbnb founder story is a popular example. When they were first getting their start,

they had maxed out their credit cards and could not get any

more funding.In response, they created a

cereal brand based on the 2008 presidential election: “Obama O’s” and “Captain McCain”.

Selling this ad-hoc cereal was enough to hold the company

over. The rest is history.

6. Family and friendsTalk to those closest to you about your business. Friends and family may have more confidence in your ability to

work on the idea when compared to an investor.

Remember: this is not your money. So make sure to monitor this as you would any professional investment.

7. Talk to professionals – bankers, accountants, or financial advisers

The nature of their jobs could help provide you with a straight path to

raising money.

Pitch your company and how much money you would need to get

started/continue working. They may have clients or connections

that could help.

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