If you are looking for ways to raise money, we’ve got some ideas on how you can do that. You might need to raise funds for your small business. Or you might be trying to find the money for a charity that needs financial help. Whatever it is our ideas can help.
Off the top, you can always involve your friends and family members in the whole process. They already know and trust you and will have more of an open mind about your idea. But, You might end up talking to friends and family that might not agree with your ideas.
That's ok, though, it'll be helpful to hear what their issue is so you can resolve it before tapping more contacts. Raising money for your cause is easy if you are clear and passionate about it. Up next we're going to show you how.
Alright, let’s get started;
Crowdfunding
This has become one of the most popular ways of raising money. Although it’s mostly used for financing new businesses, you can use it for just about any idea you have in your mind. There are plenty of online platforms you can use to seek funding. Some of them are Crowdfunder, GoFundMe, and Crowdcube.
You can raise money on this platform, from small amounts to huge ones. According to online information, in 2015, they were able to help with more than $34 billion in funds worldwide. This makes it one of the most successful platforms for raising funds.
Find An Angel Investor
If you can find an investor and convince them of how worthy and important your cause is, they may be willing to invest. This is a concept that’s similar to the TV show Dragon’s Den. You may be surprised to find that there are plenty of people out there looking for a project to invest in.
It’s however not always easy to win over an angel investor. Some may be looking for the next big thing so they can reap some benefits from them, and so, you must successfully impress them with your cause, otherwise, they may not invest.
You should probably come up with a long-term plan, about how their money will be used wisely. And what you can accomplish together. They will probably also need to know how long the project shall be running, and the total cost of running it, so, ensure you adequately research everything needed so you can provide them with all the information.
The only crux with this idea is that more often than not, they shall want to share in the profits. They are likely to also want a share of your company if you have come up with a business idea. If you feel that this is decidedly too much to sacrifice, then this is not a good idea for you.
Venture Capitalism
This is a funding opportunity that is available to businesses. A venture capitalist is someone who invests their money in a business and most of them come from public and private firms that specialize in finding new ideas.
Actually, very few venture capitalists are individuals as companies do this the most. You shall be dealing with a firm, which again means that you must be ready to either share in the profits or give up part ownership in your business.
They however typically love to look for very big and innovative causes, which means that the chances of being chosen are either slim or non-existent.
Apply For A Grant
You can also apply for a grant to fund your new cause. Grants are usually sums of money issued to innovative people by the government so they can support them and help them grow financially.
The beauty of this is that you do not need to pay back the money, but then, the process of qualification is a little difficult and long. There are usually plenty of applications, and you must have one of the most unique and innovative ideas to be considered.
The Best Ways To Raise Money For An Important Cause Conclusion
We hope that you now have a few ideas on how you can raise some funds for that worthy cause. However, be careful to look at the risks involved with each idea. As much as you need the money, you must weigh the options of what you are willing to lose for it.
Most of these investors will require you to give up a portion of your idea to them. Your friends and family members may be willing to help, but they will never match the money you could get from an angel investor or a venture capital company.
