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When you have an idea or dream that you want to bring to life, one of the things you will need is money. There are a number of factors that influence your ability to access such funds. For instance, if you have an extensive network and access to investors then you’re likely to get the type of funding that you need. In case you’re putting together an event, trying to raise money for charity or attempting to carry out an entrepreneurial project, this article should help in some way.
Expand Your Network
Your network can make a huge difference in how easy it is to raise funding for an initiative. For this reason, it’s so critical that you learn how to build authentic relationships and sustain them over time. Below are a few ways that you can expand your network.
Focus on the Right People: When networking, it’s important that you know what type of people you’re trying to meet. Write a list of key people in your industry or ones that are likely to support your initiative. Doing research on similar initiatives as well as who sponsored their events could point you in the right direction.
Attend Events: As straightforward as this may sound, attending events is another logical way to grow your network. Don’t get caught up in attending every event that arises as this may not be effective. Instead, look for events that are likely to have the kind of people or companies you want to connect with.
Keep in Touch: After making new connections, following up is essential. You can do so by sending seasonal messages or calling from time to time. See how you can add value to your new contacts so that the relationship is mutually beneficial. You can also plan small-get togethers where you can touch base and further develop your relationship.
Take Out a Loan
Aside from building your network, taking out a loan is a way of raising funds for your next initiative too. In order to do this, you’re going to need to ensure you have good credit. Even if you are able to take out a loan with bad credit, it’s likely you’ll end up with unreasonable interest rates which you don’t want.
If you have poor credit, work on improving it so that loans are easier to acquire. The first step to getting your credit in order is to check your credit report to see what is negatively impacting your score. Some of your debts may have been sent to a debt collection agency which in turn, could end up showing in your credit reports. A primary example is Cavalry Portfolio Services who happen to be one of the biggest debt buyers in America. If you’re wondering How to Remove Cavalry Portfolio Services from Your Credit Report, you can do so by contacting the right legal professionals.
Use Social Media
For those who are using fundraising platforms to generate funds for their initiative, don’t neglect social networks in the process. They can be a powerful tool used for garnering support and creating awareness. These days, it’s getting harder to gain visibility using organic methods so you may need to set aside a budget for marketing.
Paid Ads: Whether you’re using Instagram, Facebook, or Twitter it is possible to pay for ads to help you gain visibility online. The bigger your budget, the more of an impact you can make and the more people you reach. Ensure that you’re using copy that is likely to convert as well as compelling images that will make people stop and look at the ad.
Influencers: Social media influencers are able to influence people’s decision-making process as well as prompt them to take action. Think about the best influencer for your initiative and see if you can partner with them. Not only could the right partnership inspire people to contribute to your initiative, but it could also help extend your community.
Look for Investors
The last suggestion for raising funds for your next initiative is to look for investors. This is one of the most common ways of raising funds, however, it can also be one of the most challenging. You will have to prepare a convincing pitch as well as do it couple of times over before you find someone willing to invest. Before approaching an investor, always make sure you check their website and requirements for funding to be sure you meet them. Doing so will ensure you don’t waste their time and focus on investors who are suitable for your needs.
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