When you are starting a business, funding will dictate the amount of money you are going to pay for location, marketing, promotional activities, the hiring of staff, purchasing supplies, among others. As a business owner in need of maximizing your start-up funding, you need to know the different fundraising ideas to get your venture started. Here are some business fundraising ideas you can utilize.
Enlist the Services of a Fundraising Consultant
One of the best ways for you to raise capital for your business is to enlist the services of fundraising consultants. Nothing is as important in a business’s development as obtaining a capital appeal. A capital appeal can be your largest fundraising campaign you’ll ever run, and a consultant will make that happen for you. When properly arranged, this technique of fundraising will present the perfect opportunity for your business to attract donors.
A fundraising consultant can take you through the entire fundraising process, from undertaking the initial Feasibility Study, to offering expert guidance, support and mentoring for the trustees and staff members throughout the whole process. Therefore, if you are in need of help with the grant-makers, corporates, or statutory grants, you can always seek the services of fundraising consultants to make that happen.
Host an Event
You can easily raise capital for your new business by simply hosting an event like brunch, dinner, or cocktail party. Invite family members, friends, and your colleagues in business to attend the event as well. Charge groups as well as individuals to attend the dinner and offer opportunities for other businesses to act as sponsors. Promote your event with a press release and create a website which provides sponsorship opportunities and event details, and makes it clear that the event’s purpose is to raise fund to start a business. Instead of keeping all the proceeds garnered from the event, you can donate a fraction of it to charity or to a cause that is important to your stakeholders.
Seek Advice, Not Money
Although this may go against your plan to raise money, seeking advice is the right approach especially for businesses that are just starting. When you seek advice, you’ll be in a position to find out if your market position or the story of your company aligns with the way investors see them. This, in turn, creates a “win-win” situation which is something you need to strive for since you’ll be in a position to get honest feedback on the inevitability of your business. The best-case scenario, in this case, is that the investor will be interested in investing in your business today, which is something that occurs more often than you can imagine.
Getting funding can be the most difficult part of starting your business from the ground, but it’s also a very rewarding process. Once you’ve received your funding, you can now start living the dream of running your own business. Although the road to success is quite long, getting help along the way to keep your business afloat will create a great difference.