Against Venture Capital? Here Are 3 Alternative Suggestions
I see that easily one of my best episodes thus far has been all about if you really need venture capital or not. It is a sore topic for many since most people cannot afford to fund their own startups or think they need a lot of money to do so. Banks and rich people love providing it since they reap great benefits, while small business owners hate it because it is a steep hill to climb. However, the good news is that it isn't needed or you can find a way to raise the funds yourself without taking out a loan. Here we are going to look at the 3, most common alternatives to venture capital.
1. Start small or with a low-cost business
The easiest way is to start really small or with a low-cost model. A few examples of these are running a completely digital business, where you basically are already paying for such as Internet connection and your computer. A few example models of this would be teaching courses, freelance writing, blogging, vlogging, ebooks and consulting. Most of those things can be started with what you already have access to, thus negating any need for startup funds.
You can also start a business that is at least a $100 and under. A few examples of these would be businesses such as Biz Blaze, MLM, affiliate marketing, FBA stores and online stores as a whole.
2. Start with a small, temp business or job
The second one goes along with our #1, which is to start a small side hustle to create the funds for your bigger goal. This has two benefits to it, one is you learn how to run a business, important skill and the confidence that you can do this.
If you are not sure that you want to run a side hustle, you can also always get a part-time job in order to fund your dream.
3. Crowdsourcing
This is the last one and my least favorite, crowdsourcing. Sites like Kickstarter and others allow you to have the platform to ask for friends and strangers to donate to your cause. This one will take more work than the other 2, as you will need an idea on how much you need to start and you will also need to offer perks as a value to those who donate.
This is my least favorite due to the nature of it and how it just feels wrong to ask for "handouts".
Now you may wonder, what would I suggest? I would suggest either starting with a low-cost business model or have a side hustle, which Biz Blaze meets both of those. It also helps to teach marketing skills that will be needed in order to have a successful business launch. You can find out more about by clicking here.
Please comment below your own alternative idea to venture capital.
If you find this list helpful, please check out my podcast The Entrepreneur Byte and share this post with others. I would also love for feedback or suggestions on what you want to see next on this site or on my podcast.
1. Start small or with a low-cost business
The easiest way is to start really small or with a low-cost model. A few examples of these are running a completely digital business, where you basically are already paying for such as Internet connection and your computer. A few example models of this would be teaching courses, freelance writing, blogging, vlogging, ebooks and consulting. Most of those things can be started with what you already have access to, thus negating any need for startup funds.
You can also start a business that is at least a $100 and under. A few examples of these would be businesses such as Biz Blaze, MLM, affiliate marketing, FBA stores and online stores as a whole.
2. Start with a small, temp business or job
The second one goes along with our #1, which is to start a small side hustle to create the funds for your bigger goal. This has two benefits to it, one is you learn how to run a business, important skill and the confidence that you can do this.
If you are not sure that you want to run a side hustle, you can also always get a part-time job in order to fund your dream.
3. Crowdsourcing
This is the last one and my least favorite, crowdsourcing. Sites like Kickstarter and others allow you to have the platform to ask for friends and strangers to donate to your cause. This one will take more work than the other 2, as you will need an idea on how much you need to start and you will also need to offer perks as a value to those who donate.
This is my least favorite due to the nature of it and how it just feels wrong to ask for "handouts".
Now you may wonder, what would I suggest? I would suggest either starting with a low-cost business model or have a side hustle, which Biz Blaze meets both of those. It also helps to teach marketing skills that will be needed in order to have a successful business launch. You can find out more about by clicking here.
Please comment below your own alternative idea to venture capital.
If you find this list helpful, please check out my podcast The Entrepreneur Byte and share this post with others. I would also love for feedback or suggestions on what you want to see next on this site or on my podcast.
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