Thomas Edison once said that success was one per cent inspiration and 99 per cent perspiration. While this is indeed an admirable statement, times have changed. It pays to be innovative if you hope to raise capital for your budding enterprise. Such an observation may appear quite clear on paper, but how can you turn this ethereal vision into a tangible reality? There are many more methods than you may have been initially led to believe. We will now look at five excellent strategies to consider as well as the benefits that each has to offer.
Trading Within the Forex Markets
The currency markets are highly liquid and they provide an excellent means to raise capital within a short period of time. While not without their inherent risks, some of the benefits of Forex trading include:
- Access to a global marketplace.
- The ability to trade 24 hours a day and seven days a week.
- Favourable spreads.
- Liquid positions.
- The availability of dozens of currency pairs.
Finally, you will be able to open up positions that suit your budgetary requirements.
More Than Currencies Alone
Although the Forex market is a very lucrative opportunity, there are other entrepreneurs who prefer medium-term positions such as those associated with blue-chip shares. This is worth a closer look due to the movement of certain firms. As a clear example, you would have enjoyed a year-to-date profit of 20.2 per cent if you had purchased shares in Microsoft 12 months ago. When we consider that the average start-up business will not see such returns for a minimum of five years, the advantages become clear.
Crowdfunding as a Viable Option
Why not market your unique concept to other like-minded investors? This is the general concept associated with crowdfunding. There are countless venture capitalists who are looking for the “next big thing” in regards to a product or service that may transform the marketplace in the future. If you are confident in what you have to offer, be sure to check out sites such as kickstarter.com. By securing a pipeline of outside liquidity, it will be much easier to manage your day-to-day operations while further developing your organisation.
Focus Upon Public Relations
There is no denying the importance of a powerful public relations campaign. Not only will you attract a loyal audience, but these methods demonstrate that you are confident in the business itself. Such a posture is particularly critical in terms of start-up organisations, as establishing a strong customer base from the beginning will provide you with a firm fiscal foundation.
Physical Networking and Conferences
Attending trade seminars and similar events is a final means to generate interest (and capital) towards your venture. The overhead for these gatherings tends to be quite low and while we certainly live in the digital age, a physical handshake and word of mouth are both extremely beneficial in the long run.
There is little doubt that the first few years of any entrepreneurial venture will be challenging. The suggestions mentioned above are essentially intended to take the edge off of such hurdles while providing you with viable options that could prove to be very useful during your professional journey.