Raising capital for your dream business could be tougher than you think. But if you are really serious about pursuing it, don’t you think it’s fair to give it a good fight before giving up? As the saying goes, it is better to try and fail than fail at trying. Below are some doable strategies to help you in raising your most awaited capital.MindsetIf you find yourself reading inspirational books or articles, you probably have read that a healthy mindset and positive attitude are significant keys to fulfilling your objectives. Start your capital raising project by preparing yourself physically and emotionally. Do not be afraid to take risks, learn from your mistakes, humble down yourself by acknowledging that you need help, and never give up.You do not know everything so learn to ask for help. Families and friends are the top of mind. They will support you not only financially but also emotionally. They will boost your confidence and encourage you to do better.
Prepare your own vision, mission and goals that will guide you in determining your plans of action. Begin with principles that need less work but yield good results. Make a timeline and focus on the top three to five things that will help you achieve these goals. Practice self-discipline fast.BootstrappingNow that you are fully prepared for the battle, let’s tackle the costs. Costs are equally important to any business as the revenue. You must always remember that lowered costs mean higher profit or in this case, higher capital raised. Avoid incurring unnecessary costs at all times. Holding down fixed costs and controlling variable costs is what bootstrapping is all about.Renting virtual offices, hiring virtual assistants, setting up automated systems and using free online tools are few ways to bootstrap. Virtual offices are getting more popular these days as aspiring entrepreneurs continue to grow. You’ll most likely find one near your area. Outsource an assistant so you wouldn’t have to do all the job, you could save so much time and you could focus on the more important things.Learn to delegate and familiarize yourself with virtual assistants. Zirtual is one example of the many outsourcing providers you can find. You will also be overwhelmed to know the amount of time and other resources you will save if you set up automated systems and avail of the free services found online. Take advantage of these tools.
CrowdfundingNow that your project is ready to kickoff, let’s look at strategies you can do on Kickstarter, an online funding campaign platform. Here, a developer or owner will upload his project/product on the website and will try to generate as much pledges as possible from users worldwide.A successful Kickstarter campaign generally relies not only on the relevance of your product but also on how good your marketing strategy is. Media should be your best friend in this phase. Research and focus on the best traffic sources, make the best media list according to relevance and readership. Create relationships with relevant bloggers and activate or strengthen networks to create buzz on social media.Read on the success stories of Kickstarter stardoms and learn to replicate or even improve their strategies.