It seems like everyone has a great idea these days, and more and more entrepreneurs are clamoring for a spot in the modern marketplace. Startups are rising and falling quickly here in California, and one of the things that differentiates the successful ones from the ones that fail, is the presence of strong funding. Finding initial money to launch your business can be incredibly frustrating, but without the right backers, you likely won’t see long-term viability. So, what are some of the best ways to find the money to make your dreams into reality? Here are a few ideas on creative ways to fund your new startup:
- Hire the right attorney
There is a reason why this comes in at number one on the list- because this can be the most important thing you can do for your business. When you’re trying to launch a new company, find a savvy business law firm in San Francisco that is familiar with your industry and provides startup counseling. Having professional legal assistance ensures that your forms will be filed correctly, your investor contracts are airtight, and you have a solid strategy for financial growth.
- Try crowdfunding
Online funding platforms like Kickstarter have given life to thousands of great ideas, from card games to clothing designs. If your startup has something unique or trendy to sell, and can provide an appealing social media marketing campaign, then crowdfunding can be a good option for you. This may not be the only funding route you choose, but it can offer money for those who can’t land an angel investor or take out a huge line of credit.
- Join a startup incubator
Sometimes, growing a strong enterprise comes down to who you know, so don’t be afraid to get out there and network. There are many startup incubators and accelerator organizations that provide free resources, brainstorming groups, consulting services, and potential options for seed funding. Especially if you are in the tech and design industry, it can be priceless to have smart and savvy connections in the area.
- Considering trading or bartering
When you’re first starting out, you may not have much to pay to a potential consultant, but don’t forget that money isn’t the only thing of value in the marketplace today. Whether you need marketing advice, office space, or something else, consider trading your time and talents, or equity in your company, in return.
There are many ways to fund a new startup, but don’t start soliciting funds without the help of a qualified San Francisco business attorney. Reach out to Primum Law today for your free consultation!