how to find initial financing for a project that is in idea stage
I'm starting a business, I have the idea, the business plan, but I don't have an MVP yet Is this state how could I look for financing? Or should I look for a co-founder?
7 answers:
From your friends, family, and your own pocket, in return of some equity in your start up. Convince them, like a good sales man that you can return them more than they are investing in a specified time horizon.
Don't seek funding in the idea stage. You need to build up to a point where you have leverage in a conversation with potential investors. Start as lean as possible. Get some early traction and then visit the negotiation table with cards in your deck.
If you've had a successful startup exit before, you can raise money. Otherwise your best path is to de-risk the idea. Co-founders can help get you to where you need to be :-).
I'd learn about product design and seek out a UI/UX Designer to help you create proof of concept screens. You'll have a better chance of getting investment if you can show how your idea would work in its initial launch/MVP state.
We usually fund our own ideas to a stage of a POC. We want to at least be sure ourselves that we can solve technically the problem that we found. Then and only then approach friends a family but once you sold one or two companies, you can go directly to your old investors and in most cases they'll be happy to invest again in you and your ideas
At the end of the day I believe, it all comes down to two - the potential earnings and one’s share for the profit.
Based on my experience in managing many different stakeholders (like investors) the conversation is always drawn to what do I gain from it. No
So I see that as rather a starting point for a start-ups trying to find investors.
I am looking for investors(partner) for my startup Beauty and jewelry products selling website. We're excited to introduce you to StsTrends - https://ststrends.com/ ,your one-stop destination for beauty and jewelry products. Our website, StsTrends, is fully operational and ready to make a mark in the industry.
What sets us apart is our innovative Snapchat AR filters lenses feature, which empowers customers to try before they buy. This game-changing experience has the potential to revolutionize the beauty market. Discover more here: https://ststrends.com/pages/snapchat-lens-ststrends. To discuss more about offer DM me or WhatsApp - +91 6358307207 Email- sahilkhan778001@gmail.com