Suppose You Have A Pure Idea To Start Your Own Business. Have You Planned To Implement And Operationalize Your Plan?
Undoubtedly, in the first step, you need a site, a good team, and a place where you can work. But to organize the mentioned things, you need initial capital.
Its A capital that can cover your initial expenses. Regardless of the size, the importance of the business idea, and knowing the customers’ needs, as an entrepreneur, you must first be able to provide the necessary financial resources for your startup.
Most entrepreneurs ask how and from what path they should collect the initial capital for their startup.
Looking at the history of successful startups, you will see that most of them started their work with a self-starting method (Bootstrapping). The self-starting approach means creating a business with the minimum possible capital. The above term implies that an entrepreneur must first gather the financial resources in his different bank accounts in a single place to create the minimum initial capital.
The first solution: focusing on personal financial resources
- Most business advisors suggest entrepreneurs focus on the financial resources they have instead of thinking about borrowing or borrowing from others from the very beginning. In this case, if the business becomes profitable, In the future, the entrepreneur will not have to pay the profit to repay his loans. Of course, the problem with the above method is that due to limited financial resources, the development of startups will be slow.
The second solution: receiving initial capital from friends and family
- Before you go to get financial help from different people, it is better to go to your friends and family members and ask them for help. These people will be willing to give you the required money in such a situation. In this case, you have to present a general business plan that can encourage others to provide you with the initial capital through the benefits. It will clear any doubts and ambiguities.
The third solution: look for support funds (government, private) and investors.
Various funds are willing to provide you with the necessary capital with a small loan. Fund for supporting researchers and technologists of the country at www.insf.org is one of these cases. In the external dimension, sites such as Kickstarter or IndieGoGo are good infrastructures for collecting initial capital for business development. The sites engaged in this field make it possible to provide financial services based on their unique strategies.
Third solution: Look for local investors
Its Centers provide good services in the field of business development. Fortunately, with the support and coordination, we are witnessing the emergence of numerous technology parks and growth centers in the country. The above centers either directly serve you and provide you with initial capital with low fees, or they now place your business in the investment network so that you can obtain initial capital.
Do not forget that the chambers of commerce in different cities of the country are another solution that will provide you with helpful information and offer exciting solutions for attracting capital.
The fourth solution: look for a loan.
- Suppose you can provide solid and convincing reasons that your business idea is both-oriented and money-making. In that case, you can count on the help of banks to provide you with the necessary money in the form of capital. Almost all banks worldwide, including Iranian banks, support small businesses well and provide them with the required loans.
The fifth solution: look for venture capitalists.
- Suppose you have started your business but are now considering developing new technology. In that case, especially if it matches the market’s needs. Today, you will undoubtedly need heavy financial resources in this field. The capital that must be paid to pay the wages and the office you run. Angel investors are a particular group of investors commonly known as venture capitalists. This group is looking to invest in risky businesses with the highest returns. In other words, their work philosophy is different from accelerators. If these people feel your plan is highly profitable, they are ready to help you with heavy figures. But do not forget that these people invest in different businesses, hoping one or more of them will become profitable. The interaction of these people with other companies makes your work a little tricky. These people will compare your business to different examples, so you should try to stand out from the crowd. Most of these people are to fit 3 to 10 times the initial capital in 5 years. As a result, they can be a bit difficult.