How long does it take to find funding for a project? A week? A month? Forever? It is no secret that getting funded while having a good project (or any, for that matter) is hard. Entrepreneurs usually have to go around the country, meeting various investors, spending precious time and money. But what if there was a way to fund a project, without having to leave your house?
Raising funds – aka torture
Getting funding for a project is already hard as it is, but finding people willing to fund you is double the difficulty. What’s even worse is that, once entrepreneurs find a person willing to invest in their project, it usually ends up with the business owners having to sell parts of their company to the investor. It often leads to corporate issues in the future as investors alter the business plan or revamp it completely.
It’s pretty convenient how the story I’m going to tell you now is about yours truly.
Back when I was still a freshman, I had an amazing idea of developing a traveling App for my city. It would mirror the “adventure aspect” of a video game I was playing during the time.
Essentially, the App would help tourists discover the city as they were walking around it. Once they passed a notable landmark, they would be given information on what it is, as well as some bonus points for discovering it. The points could later be spent on various souvenirs and discounts with partner companies.
I pitched the idea to a couple of investors, which I barely found after 3 months of searching. In the end, I was offered a choice. Either take the funding of $100,000 and forfeit 40% of my startup or look for alternate methods. I went with the latter.
Unfortunately, there were virtually no alternate methods to find funding, and due to the slow progress, somebody else beat me to developing the App. It took me 2 years to search and come up with nothing.
However, if I were starting my startup now, I would know exactly where I’d get my funding from.
How can you raise funds without leaving your house?
How would I be able to raise funds if I was realizing my brainchild now?
AssetStream is a blockchain-based microfinance platform that aims to connect various lenders and borrowers all around the globe. The platform aims to make the lending and the borrowing process effortless, less time-consuming and much cheaper.
Thanks to the fact that lenders and borrowers can match within seconds, without even having to leave their houses.
If you believe that your project has merit and require funds to start, registering on AssetStream could be your first step. By just indicating some information on your profile, such as the already invested capital, business plan and minimum sum required, the platform will be able to immediately match you with a lender that has similar requirements.
No need to go out looking for funding, the funding finds you!
Are you ready to grow your business?
My experience illustrates how important it is to act fast before somebody beats you to your startup idea. Yes, it may be unique, but us humans are creative, we can come up with similar ideas, and there’s no guarantee that somebody in another part of the globe isn’t fighting to embody the exact same idea you have.
Avoid months of searching for investors, only to find out they want to buy parts of the company. Register on AssetStream and be matched with a lender within minutes. What’s best is that the relationship between lender and borrower is very simple. The borrower borrows from the lender, and by an agreed upon date, he or she returns it with interest. Simple as that, no company selling and no external interference.
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