According to research by All Raise, only 15% of venture capital funding is allocated to female founders. If you have been around the network long enough you know we are always seeking ways to better improve the way we do business. I have met so many women that use their personal funds all the time to finance their business. Some are new to the term ‘VC’, aka Venture Capitalist which in short, is another route to getting funds for your business. My team and I gathered a short list of tips you should know when it comes to getting funding…
Have a business plan and financial forecast - Bootstrap financing is when you use existing finances to fund your company. But you HAVE to budget and know how to get the best use of your dollar. It is best to place the focus on the areas that yield the highest return.
Research grants - Grants have a timeline to earn free money from the state when you meet a certain set of requirements and these are funds you do not have to pay it back (https://www.grants.gov/).
Follow female-led venture capitalists - Female VC’s will sometimes enable you to have more leverage when it comes to receiving funding.
Here are links to female-led venture capitalist firms:
Build out an Indie gogo account - Create a new funding initiative that will attract people to you and your brand.
Start a non-profit - Emphasize the social mission of your startup. If you do not desire to start a non profit you can partner with one.
Proper coaching - Don’t be afraid to HIRE help! We all had to start from the ground up! Finding the right mentors and coach that can point you in the direction and hold you accountable to your goals!