If you are seeking funds for your first online project, do not have collateral, and there is no proven success on your product, your venture will be extremely risky for most investors to put down any credit towards your project.
So, how can you get anyone’s attention to drop any cash towards your idea?
What Are The Best Ways To Seed Fund?
Seed funding is funding the startup of a business and one of the best ways to get this funding is to create a campaign online to raise money. It often comes with using the personal investor’s assets, friends, family, or anyone else who is willing or able to invest money at a riskier position than most investments to gain some equity.
Even at the seed fund stag, many investors will want to see some proof that the product has some validation and any market value.
Online crowd funding :
Crowdfunding has transformed the whole startup climate in the tech sector. The ease and lower cost of starting a business nowadays make crowdfunding one of the fastest and most realistic ways to begin a startup with no proven track record.
There are hundreds of crowdfunding platforms and payment processing systems online with one such example as Dharma Merchant Services: Credit Card Processing, which has an easy platform and the flexibility of having a payment service with one login system and many payment avenues allows for anyone to start up a funding campaign.
Micro Venture Capital Funds:
This is an interesting niche area that has evolved with the innovating startup market. With the hundreds of funding platforms, other venture capitalists have taken notice of the money to be made in the new era of independence upon online businesses.
The continuing climate and collective intelligence of the digital nomad movement is to go away from the archaic way of giving money away to big business and trek their own path to success as independent as possible for a flexible life.
Mentoring And Funding With Your Idea:
Business accelerators can be a great path for a new startup with a promising idea. If you can present your idea effectively then you might land in one of these 3-4 month programs. The accelerator will be able to mentor, offer office space, networking, resources, and best of all credibility in order to attain access to capital.
Streamlining The Online Business:
Once the startup has been launched and you are trying to monitor the winds of the storm. It is essential that you are able to guide your ship to make preventive and problem-solving decisions before any calamities.
Monitoring Data And Revenue
It is imperative that every new business collects as much data from the very first day and continues to monitor and evolve this data. There are many options out there but a good business dashboard app that you can collect all the information in one place is a great start in order to stay organized and efficient.
Recommended Read: How Data Boosts Your Marketing’s Effectiveness
This is a great way to monitor SEO, payment reports, deadlines, communication within companies and internally, and any other stat you want to add to the platform.
Managing Employees Online
There are many ways online to monitor employees but using a platform like Clockspot allows the manager to know when they clock in and out, GPS to monitor any movement of devices, and also monitor any projects. It also allows for automating payroll and have access to the detailed project and attendance reports.
Sam Makad is a business consultant. He helps small & medium enterprises to grow their businesses and overall ROI. You can follow Sam on Twitter, Facebook, and Linkedin.