How To Get Money To Develop Your Business

Table of contents:

How To Get Money To Develop Your Business
How To Get Money To Develop Your Business

Video: How To Get Money To Develop Your Business

Video: How To Get Money To Develop Your Business
Video: 7 Strategies to Grow Your Business | Brian Tracy 2024, May
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One of the ways to find money to develop your own is to find and attract investors. In the West, people who finance other people's projects, including at the initial stage, are called business angels. However, they do this not at all out of charity, but solely for the sake of earning money. In Russia, this phenomenon is still in its infancy. But it is already there.

How to get money to develop your business
How to get money to develop your business

It is necessary

  • - business plan;
  • - access to a potential investor;
  • - communication skills.

Instructions

Step 1

The first thing a potential investor wants to see is a business plan for your project. Any business person, investing his money in this or that undertaking, wants to know a clear answer: how much, what and when he will receive in return. If you do not have a business plan with a clearly defined financial component, no one will spend the wrong thing on your project. that money, even time to get acquainted with it. When drawing up a business plan for receiving government subsidies, the social significance of the project is highlighted. When attracting investments, it can also have a certain value, but definitely not a priority.

Step 2

Before writing a business plan, it will not be superfluous to read special literature on this process, perhaps even take courses in business planning (but choose very carefully. Among the educational products of the now popular business topic, there are many frankly not worthy of attention).

Be critical of what you read and hear. Your potential investor is unlikely to be impressed that you have memorized different types of business plans. But the content of this document can either catch him or not.

Step 3

Show the finished business plan to a specialist, preferably several and from different places. They readily advise on writing business plans for a small fee in regional business development agencies. But do not forget that agencies are used mainly to business plans for obtaining government subsidies, the main reader of which is an official who decides to whom to give money. A private investor has a slightly different interest than the state.

Step 4

When the business plan is ready, you can start looking for an investor. All available methods are good here: through acquaintances who can connect you with the right person and recommend him, various funds financing business projects … There is no one hundred percent probability of failure when contacting the investor candidate of interest directly. In general, to break through, you have to dare … And success can come from the most unexpected side.

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