What do you do if your business needs funding?

The funding landscape can feel like a battlefield especially for us women entrepreneurs, but who says we need to play by the rules? 1?? Bootstrap with a Twist: Cut costs ruthlessly but smartly. Use digital tools to automate and outsource less critical tasks. 2?? Crowdfunding, but Make It Personal: Tell your unique story. People invest in narratives that resonate with them. 3?? Grants for the Gritty: There's free money out there for those willing to dig. Target grants specifically designed for women-led businesses. 4?? Strategic Partnerships: Align with other businesses that complement yours. Share resources, networks, and knowledge. 5?? Pre-Sales and Subscriptions: Create exclusive offers that make them part of your growth journey.

It depends on what kind of requirements you have. Businesses have various kind of funding requirements, like project funding, work capital funding, etc. Even interest also varies depending on the needs , quantum of the fund, and duration.

When my business needs funding, I assess our needs by: Identifying specific financial requirements for operations, growth, or expansion. Understanding the timing and urgency of funding needed. Evaluating how the funds will be utilized and their impact on business objectives. Exploring different funding options based on our financial assessment and growth projections. Developing a comprehensive funding plan or proposal to communicate our needs effectively to potential investors or lenders. This process ensures we secure the right funding to support our business goals efficiently.

Assess your needs. Explore funding options. Prepare a solid business plan. Reach out to investors or lenders. Be ready for due diligence. Negotiate terms. Stay transparent and communicate. Funding options: Traditional Loans - Small Business Administration (SBA Loans) - Angel Investors - Venture Capital - Crowdfunding - Grants - Bootstrapping - Strategic Partnerships.

How to find funding in any market: Step 1: Evaluate your options - Bootstrapping, Angel Investors, VC, Loans, & Crowdfunding. Ask yourself: can you cut costs? Do you know angels/VCs? Have you considered loans or crowdfunding? Step 2: Prep to Pitch - Investors fund people, not just ideas. A pitch should tell a story about a product changing the world. Show revenue, active users— data beats projections. Step 3: Network! - who you know is important. Attend meetups, go to conferences, be active on Linkedin, X and Reddit. Visibility raises odds. Step 4: Iterate - Even the best pitches fail. Learn, iterate, and pitch again. Step 5: Be patient - Funding isn't just cash. You want a strategic partner.

When my business needs funding, I consider different types of funding options based on our needs and circumstances: Equity Investment: Selling ownership stakes in the business in exchange for capital. Debt Financing: Borrowing money that needs to be repaid with interest over time. Grants and Awards: Applying for non-repayable funds offered by governments, organizations, or institutions. Crowdfunding: Raising funds from a large number of individuals through online platforms. Venture Capital: Seeking investment from firms that provide capital to startups and high-growth companies in exchange for equity. Angel Investors: Securing investment from wealthy individuals who provide funding and mentorship.

VCs pass on 99% of startups in < 6s. Easy to skim = gold. Investors see thousands of decks, here’s how to stand out. winning pitch deck: Slide 1: Context - Define your company in 1-sentence. Slide 2: Problem - What problem do customers face? Slide 3: Solution - How does the product solve it? Slide 4: Why now - Are trends headwinds or tailwinds? Slide 5: Market - What is the current and future market size? Slide 6: Competition - Who are they, what do they do well? Slide 7: Roadmap - What are the next features to develop? Slide 8: Business model - Revenue, pricing, gtm strategy Slide 9: Team - Background and relevant experience Slide 10: Financials - User Growth, P&L and projections

When my business needs funding, I create a compelling pitch by: Crafting a Clear Message: Clearly articulating our business idea, value proposition, and funding needs. Highlighting Market Opportunity: Demonstrating the market demand and potential for growth. Presenting Financials: Sharing key financial metrics, projections, and use of funds. Showcasing Team Strength: Emphasizing the expertise and commitment of our team. Addressing Risks and Mitigation: Acknowledging potential challenges and outlining strategies to mitigate risk. Creating a Visual Presentation: Using visuals, such as slides or a pitch deck, to support key points and engage investors. Practicing Delivery: Rehearsing the pitch to ensure clarity, confidence, and persuasiveness.

When my business needs funding, I network widely by: Attending Events: Participating in industry conferences, seminars, and networking events to meet potential investors and partners. Utilizing Online Platforms: Leveraging social media, professional networking sites, and startup communities to connect with investors and advisors. Engaging with Local Ecosystem: Building relationships with local chambers of commerce, business associations, and incubators/accelerators to tap into funding networks. Seeking Referrals: Asking existing contacts, mentors, and business associates for introductions to potential investors.

Sometimes founders make the mistake of opting for funding at a higher cost. In such a rush, they make the mistake of offering an equity stake cheaper and selling the higher stake. This should not be the case. This can harm your company's financials in longer run.