We’re seeking funding for our start-up social enterprise, a FinTech solution that enables charities, not-for-profits and community groups to tap into a new source of funding.
It’s a really good idea.
Heard that before? I have. Many times. Often when I’ve heard it it’s been at some sort of start-up gathering or event. I reckon for the most part about half of the ideas I’ve heard, I have thought they were a good idea.
So that’s what happens with the investors, don’t you think? It’s so much more than that of course, you need to work out your numbers and be able to justify them, demonstrate passion and everything else. Many investors want to see that you’re already making lots of money. If you’re not making lots of money then raising start-up funding is really hard. You need to find an Angel or a Farmer investor, one that will plant the seed and help you grow it.
It’s hard just trying to meet up with them, right? They get approached by hundreds of people with great ideas so if they don’t just ignore your approach you end up finding out that your start-up isn’t the sort of thing they’re investing in, or you’re too early, or what ever else it may be.
So what to do? Crowd Funding? I’m not convinced this is the right way yet, it’s powerful and has worked for many products, but does having hundreds or thousands of investors in your business really work?
There is no convenient answer but I love great ideas and I’d love to hear from any readers who have a great idea, I wonder if we can share our start-up plans and get some honest feedback, help, direction? Is there an opportunity for us to create a cooperative here and help ourselves? Ready to give it a try, let me know, I’ll set up the environment for us to do so.
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