1. Home
  2. Docs
  3. Funding a Business
  4. Initial Funding

Initial Funding

In the previous section, we wrote in our business plan how much money we will need to start, run and grow the business. Here is where we “raise” the initial funding.

Initial Fundraising
The second component to your financial factors is fundraising (budgeting in first).

How do you go out and chop down that number, so that you can start the business you’ve been waiting for.

When fundraising I like to break down the overall goal into three segments.

The Money You Raise
The money You Ask For
The Money You Earn

If I break down that imposing number into three manageable, tangible goals it will not seem as difficult or daunting to go out and get the money I need, you need to start your business.

The Money You Raise
The money you raise can be defined as the money you get when you cast a wide net over across section of many different people seeking smaller amounts.

So its when you have that bake sale or you do a car wash or you do a kickstarter campaign.

Those events or those activities are meant to reach a wide range of people, a wide grouping of people but you’re not asking them for a whole lot of money, you’re just raising $5, $10, $25 bucks at a time.

And if you get enough of that you can accumulate some bills.

Casting a wide net seeking smaller amounts

The Money You Ask For