Questions

We have launched a new website (last week) which focuses on selling ready and customized industry databases and reports, apart from providing data related support solution.I know this has value in the market but we have got stuck with almost no fund. With no clients and huge expenditure ahead, what should we do?? I need funding..via this we aim to expand our Delivery Infrastructure and to garner client traction to our portal via Sales & Branding. HOW, WHOM to approach? Pls help with your solution.

While there is potential value in your industry databases and reports, that value is worth nothing if there isn't a customer on the other end. In order to viably approach external funding sources, you will likely need to bootstrap and iterate your business model until you show that your product has value in the marketplace.

I've been in the market before pitching a pre-revenue business and I can say with certainty that it is an incredibly difficult proposition. The companies that are typically able to raise capital in these situations feature founders with established entrepreneurial experience (ideally, with successful exits) or some sort of proprietary technology.

Best of luck, but my ultimate advice is to start small and build slowly. From the looks of it, you are putting the cart in front of the horse. I would imagine offering your product on a free or trial basis would allow you to promote in a cost-effective manner. At this stage, your goal is to prove the concept, so any progress here will also help with potential fundraising down the road.


Answered 5 years ago

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