How to raise investment for your digital startup
Despite what people may tell you, blood, sweat and tears alone is not enough to successfully take a business to market.
You need money – often, a lot of it.
Even the initial startup capital for Amazon (somewhere in the region of $250,000) came from Jeff Bezos’ parents’ personal savings.
You can have the best idea in the world, but if you don’t have the financial backing to execute your idea, it will remain just that – an idea.
Placing idealism to one side for a minute, you need money to get the business off the ground, cover the cost of hiring the right people, and promote your business against much more established market competitors.
These pressures are heightened in the case of a digital startup.
Not only will you have to spend to compete with businesses trying to become the next Facebook or Spotify, but you’ll need to spend some serious money to even get into the building – let alone find a seat at the table.
Without funding, a business that’s barely out of the starting blocks can find itself in financial disarray. It can leave owners draining all of their personal savings and a business crashing before it’s even taken flight.
Here are 6B’s tips on how to raise investment for your digital startup.