We get a lot of questions about how to raise capital. Here are some steps for you to take before looking for money.
Step 1: Business Plan
Step 2: Talk to Customers
Then you need to start talking to potential customers to see if they will buy your product. Here are three great videos to get you started:
- Your idea doesn't need to be great
- How to talk to users
Step 3: Business Accelerator
From there, consider applying to a business accelerator. Just like a company won't hire you unless you have experience or a degree, an investor won't invest unless you have experience or at least have done a startup school. You might want to apply to these startup schools below:
Only once you have done those three steps is your business ready to look for capital.
Step 4. Raising Capital
To understand raising capital, you have to get into the mindset of an investor.
Why didn't they invest? some times investors make mistakes. Here's one investor's list of investments they missed. If only they had a time machine and could redo the past!
Here are some lists of funders (Grant/Equity/Debt):
Step 5: Enjoy the journey
It's not going to be easy. But being an entrepreneur is one of the meaningful things you'll ever do!