Got a pretty decent acceptance into the market by having acceptable traffic flow, good no of registered users and paid advertisers. How and what mode of funding should we aim for? Funding is required for the following reasons: ü Sales & Marketing ü Platform Growth ü Compliance ü Technology / IP
In order to succeed in your first time out in your business startup, you must ensure that you have some saved up funds you can easily access or funds you can obtain from friends or family.
The process of utilizing personal saved up funds or funding from friends and family is known as bootstrapping or self -funding.
Obtaining funding from family and friends is a unique way to kick off your startup. Friends and family are usually flexible when it comes to servicing your loan debt much more than other external sources.
So, if you approach the right friend or family member that supports your idea, you can get some, if not all the funds you require to start up your business.