Beginnings are always hard. Research shows that 9 out of 10 new businesses go down within the first year of operation, and one of the main reasons is almost always the lack of business funding. Any successful entrepreneur knows that money makes the business world go round. Having a good product, a sound business plan, and an avid team is essential, but all those aspects are rendered useless if you don’t have proper funding to make your dream come to life.
The exciting journey from a surefire idea to an actual revenue-generating company is almost impossible without proper capital. This is especially true when a startup gains traction and starts growing. Having a business growth fund is a must for all aspiring entrepreneurs who truly believe in their company.
Are you ready
to get more funding?
Growth is what every entrepreneur hopes to achieve with his or her startup company. But this holy-grail of achievements can also be a double-edged sword. If you are not well-prepared for correctly managing hyper-growth, this might turn out to be the beginning of an end for your startup.
This is where thinking about business growth fund comes into play. Some of the most popular options include:
Crowdfunding platforms work like this: you put up a detailed description of your business for other users to read. If they like the idea behind your business, they can then give money to your cause. Your business description should typically cover:
- What your business is all about
- Main goals of your business
- How you plan to make a profit
- How much money your company needs
- What exactly this money will be spent on…
The downside of crowdfunding is that it sometimes simply does not work out.
Angel Investors are people with surplus money who are able to invest in startups. They can work alone or in groups of networks, and often offer mentoring services as well as cash. However, Angel Investors typically can’t meet all the funding requirements as they usually offer lesser amounts of money. This is where our next business funding option comes in.
Venture Capitals are professional businesses that focus on funding and investing in startups that truly have promising ideas and potential. Aside from funding, these organizations also provide the following:
- Sustainability and scalability evaluations
HJR Global can help you figure out which type of funding is right for you