According to Business Insider, only 3 out of every 100 companies that try to get cash from angel investors succeed. The success rate with venture capitalists is even lower. Disappointed yet?
The truth is, you do not always need an investor to get going. Below are a few tips that will help you get off to a good start.
Bootstrapping. Self-funding is the preferred source of cash for your startup – if you can do it.
Small business grants. This source often gets overlooked, but it should be a major focus these days due to government initiatives on alternative energy and technology.
Loans or line-of-credit. If your company needs only a temporary or small infusion of cash, you should try for an SBA loan, or a bank line of credit.
Bartering services for equity. Bartering technically means exchanging goods or services as a substitute for money. An example would be getting free office space by agreeing to be the property manager for the owner.
Photo by Steven Depolo