What is the best way to rise a fund for a business and make profit in a short period of time ??
- Thread starter Abee111
- Start date
Kingsley
Valued Contributor
Of course there are somany ways one can raise funds to start up a business but what i will not advice anyone to subscribe to is getting quick profit there is nothing like having quick returns. It is always better to exercise patience as your business grows with time and generate the desired profit you are looking for, rather than try to rush things beyond what you can handle.
Now on how to get the start up capital for the business i will suggest you get your business plans together and make it presentable and easy to comprehend together with your profit projections, and I want to assume the business you intend to commence is something you already have an experience with. So with your proposals you can either approach a bank or a micro finance bank for a loan and see what you can get from them.
Again you can try to convince your friends and family members for their supports and if that is not working you can aswel open the business up for others to also invest in it so that you will be able to raise the desired capital you need to run the business effectively and efficiently.
Now on how to get the start up capital for the business i will suggest you get your business plans together and make it presentable and easy to comprehend together with your profit projections, and I want to assume the business you intend to commence is something you already have an experience with. So with your proposals you can either approach a bank or a micro finance bank for a loan and see what you can get from them.
Again you can try to convince your friends and family members for their supports and if that is not working you can aswel open the business up for others to also invest in it so that you will be able to raise the desired capital you need to run the business effectively and efficiently.
E
eldavis
Guest
There are so many ways to make money for your business, but the problem might be looking for quick money, this is why so many people run towards taking a loan for their business and taking of loans is one thing I would never advice anyone to do, especially when you are starting the business for the first time.
PICKFORD
Verified member
There are so many ways this could be done people will start going to the bank to borrow business loans but another way to do such thing is to ask well-meaning friends relatives parents grandparents for money to start up business but for you to win their heart or their mind to Grant you money to start up your business you have to tell them your business plan how you decide to pay them back when you make profit. A good business plan is one of the key factor to consider before starting a business especially if you are not the one funding business you have to carefully think about your business plan that is why it is advisable to discuss with experienced entrepreneurs and businessmen so as to share from the experience what it was like for them before starting their own business being sure of your business plan then you can go ahead to borrow money hidden from the bank or from well-meaning Friends to start up your business..and to make profit within a short period of time actually is not guaranteed to make profit depends on the quality of the product that you sell all the type of service that you sell that is why the customer service must be ok to attract customers
btaliat
VIP Contributor
Since your business is targeting the local people, you may not need to spend much. So it will be advisable to raise the fund through saving.
There are many benefits of starting a business with saving. Among the reasons is that it will give you peace of mind and there will be all your attention on your business unlike if you start a business with loan from banks.
Though, family and friends can still help you in generating fund for your business, just that most time, it is not all families memebers that are always in support of us especially when we want to start a business.
There are many benefits of starting a business with saving. Among the reasons is that it will give you peace of mind and there will be all your attention on your business unlike if you start a business with loan from banks.
Though, family and friends can still help you in generating fund for your business, just that most time, it is not all families memebers that are always in support of us especially when we want to start a business.
Shaf
Verified member
It's always best to start a new business with personal funds, especially if you have no experience and are not so sure about it's success. This way you minimise risk and save yourself the mental stress of repaying it.
Alternatively, getting help for free from family and friends. If they insist you have to pay, it's still easier than unknown faces.
It's not all business that can be self funded though, especially if you need to purchase machinery.
Another safe bet is using bank loans, especially if you have a collateral to deposit that you won't need. If the rate is reasonable, it would be easy to repay over time and get your collateral back.
One place to never go to is loan sharks, or as they've changed their name to, online loan apps. They charge as much as 50% interest.
Alternatively, getting help for free from family and friends. If they insist you have to pay, it's still easier than unknown faces.
It's not all business that can be self funded though, especially if you need to purchase machinery.
Another safe bet is using bank loans, especially if you have a collateral to deposit that you won't need. If the rate is reasonable, it would be easy to repay over time and get your collateral back.
One place to never go to is loan sharks, or as they've changed their name to, online loan apps. They charge as much as 50% interest.
Chibson
VIP Contributor
If you want to make a lot of money and become successful in life then it is important you shouldn't venture into businesses and that promises to give you a quick profit because most of them will take money from you instead of giving you. if you want to go into a business it is important you first of all evaluate the amount of capital needed to start a business and from there you will know where to start. I don't actually advise people to take loans to start a business especially if they do not have enough business ideas and knowledge. But if you're someone that have proper knowledge of how business works and you are r
already in business then it is recommended you take loan from traditional lenders or from banks as the case may be. You can also seek funds from family and friends and of course that one is very good because most of them will definitely give you money for free to kick start your business journey. Personal savings of course remains the best way in which you can raise the fund to start your business because you are actually stand no chance of going into bad debt.
already in business then it is recommended you take loan from traditional lenders or from banks as the case may be. You can also seek funds from family and friends and of course that one is very good because most of them will definitely give you money for free to kick start your business journey. Personal savings of course remains the best way in which you can raise the fund to start your business because you are actually stand no chance of going into bad debt.
moonchild
VIP Contributor
With this mindset I wouldn't advise you to start up a business, you need to change your mindset and approach towards business and how it's done, because there isn't any where that you make quick money except maybe at the Casinos, even at that the probability of winning is one to nil.
And you also talked about raising money, so you want to start making money but you can't source for capital, lol then you must be joking.
You need to raise money no matter how small to get your business off the ground and also make sure you do your research that the business you want to indulge in has demand, because you wouldn't make any sales or profits if there isn't demand for what you're selling.
If it's a local business then I suppose your target buyers are within your locality this will limit the funds you will use to start up.
If your business is online then you have to understand the market because you'll be competing with the whole world and to get a space you need to fight for it, if there's already a business that is using your own business model then you can see if there are lapses in their product and you can use that as your own selling point
Basically, it's all about thinking out of the box and making money in the process, looking forward to hear from you
And you also talked about raising money, so you want to start making money but you can't source for capital, lol then you must be joking.
You need to raise money no matter how small to get your business off the ground and also make sure you do your research that the business you want to indulge in has demand, because you wouldn't make any sales or profits if there isn't demand for what you're selling.
If it's a local business then I suppose your target buyers are within your locality this will limit the funds you will use to start up.
If your business is online then you have to understand the market because you'll be competing with the whole world and to get a space you need to fight for it, if there's already a business that is using your own business model then you can see if there are lapses in their product and you can use that as your own selling point
Basically, it's all about thinking out of the box and making money in the process, looking forward to hear from you
Sotherefore
VIP Contributor
If you are in the local area getting a trusted organisation to give you a capital to start up a business may not really be available since there is no facilities to take care of loans and every other things related to this , and as a result of this the chance of you getting a loan or succeeding in securing money in the local area for business may be low except when if are living in the Urban settlement .
But generally if you are getting a loan just for the main purpose of making quick profit you may even be at high rates because there may be high possibility that your business may not succeed , the reason is because you will just be interested in the profit and how you can return back the money you have collected but you won't take your time to know what the demands of the business is and what people are expecting from you.
Personally I always try to avoid a situation that makes me not to really concentrate and put more effort in achieving the best from my business and loan is also one of them, it's could even leads to depression.
But generally if you are getting a loan just for the main purpose of making quick profit you may even be at high rates because there may be high possibility that your business may not succeed , the reason is because you will just be interested in the profit and how you can return back the money you have collected but you won't take your time to know what the demands of the business is and what people are expecting from you.
Personally I always try to avoid a situation that makes me not to really concentrate and put more effort in achieving the best from my business and loan is also one of them, it's could even leads to depression.
funmi
Verified member
One thing I have to quickly correct is the idea of the word quickly or quick money. When one is running a business we do not need to put ourselves and the business under some unnecessary pressure yo make make quick money, if we push yourself or business too hard just because we want to make quick money we may end making poor decisions that will affect not only the business but ourselves more negatively. So we must remove some unnecessary pressure from the equation and ensure we follow due process in the course of running the business. This will help us make more healthy business decision and make more better plans for ourselves.
Now when it comes to ways of accessing funds to run our businesses we must try as much as possible to avoid going for loans from banks mostly if the business is going to be a fresh business or start up. Then we must so endeavor to prepare a decent business proposal and get other people who will be interested in running the business with us. But if this seems to be difficult to get then we must rely on loans and use them wisely for the business purpose.
Now when it comes to ways of accessing funds to run our businesses we must try as much as possible to avoid going for loans from banks mostly if the business is going to be a fresh business or start up. Then we must so endeavor to prepare a decent business proposal and get other people who will be interested in running the business with us. But if this seems to be difficult to get then we must rely on loans and use them wisely for the business purpose.
Kendy
Verified member
To me, the best way to raise a fund for a business is through your personal savings. Personal savings is one of the best ways to fund both a new business and existing businesses. The satisfaction and less pressure that comes with funding through personal savings is more fulfilling. Funding a business is always one of the most important thing to bring a business idea to reality, this is because even if the business idea is feasible and there I no capital funding, then the business would always remain a dream and not reality. Obtaining loans from the banks is also another way of finding a business but I do not recommend this because it is always easier to get loans but the challenge always comes when it is time of repayment. The pressure and duress that comes with loan is always challenging and most especially for new business owners. It is best to save up money and be intentional about it and also better still, have a fixed deposit account where you save without having access to the money until when you decide to use the money in setting up a business or even engaging in an investment as well.
Yusra3
VIP Contributor
Angel investors or VCs who are ready to fund the early stages of growth are the best way to build up speed and make money on startups that exchange portions of equity for an amount of money. In addition, crowdfunding is a great tool of quickly raising initial funds for starters. However, do be aware of the debts to an extent or missing out on ownerships that may be critical to you and the business. Accordingly, concentrate on a useful product or service that can be adopted with ease, bringing a satisfying turnover not long after the launch. The success of profitability in the short term depends critically on the planners competence and the process implementation.
Similar threads
