Fundraising for any startup is a task that can be described beyond essential. Procuring funds is the main pillar for any startup to grow. Rather to carry out any activity, funds are the basic need. There are a lot of ways, through which a creator can acquire funds from the people. They can go to venture capitalists, angel investors, also go with options of crowdfunding, bank loans, etc. It is convenient to showcase your business plans to VCs & AIs. But when it comes to reaching out to the wider audience, it becomes more difficult. For them to show some interest, they need to be tapped first, share the idea with & then maybe they would consider pitching in. Let’s take a look at the guide to different types of fundraising reach outs.
Types of Fundraising:
Mail the idea
Conduct a mail blastoff, wherein you send an email to everyone in your organization, circle, neighborhood & one you know in some or the other; it is okay if just know their name. Share with them your creative business idea. Make sure you have created a business module so engaging, that they could actually see a future and would want to be the part of the change you want to create. Motivating right!
Be loud during events
I am sure you are aware that fundraising from people isn’t possible by just sitting at home right! Check all the events taking place in and around your city. Join in and be sure to take the stage to showcase your business. In this case, all the businesses are show businesses. Tell them about your work, tell them how you wish to make the change and of course, leave your contact details.
Apart from emails, online reach has a wider scope. Give the audience to make their contribution online, broadcast your startup ideation on your social media, put your website details on community pages, join in startup communities like InnoPitch, create a separate page for your product and bam! You would actually tap the business world as well as social communities to reach out to you. You can also reach out to local celebrities or local leaders who may help you get a better platform.
Into the wide world
For a tricky or a social project, you may have to meet people who are potential donors by visiting them door to door. You have to carry out a survey about various business houses who may be into startup funding, looking for something creative or change & then pitch in your idea. You never know where you’ll find water in the desert.
Hard Core Marketing
Forget social media, jump into the market. Create a buzz with traditional marketing tactics. Give ads in newspapers, radio ads, get your brochures & pamphlets circulated, reach out to your resource provider and engage into marketing activities. This will allow people to know about and then you can reach out to potential fund providers.
Competitors are the Best Teachers
Usually, all the businesses have competitors, if not in the same product then maybe in the same industry. And these people will always have good stories to share, shedding some light for us and giving some morals. With this knowledge and a path to walk on, a lot of our plans start to fall into place. And then well, you know what is to be done.
These techniques are not only relevant for crowdfunding, but these would help you get the right leverage for showcasing your business plans to Venture capitalists or Angel investors or even to the banks for loans. You know your path is tough, but when have we ever enjoyed a sweet dish with a spicy cuisine?
Related Article: Startup Challenges in India 2021