In episode #1195, we share several alternative (yet effective!) ways of funding your business. We give you all the details on crowdfunding, revenue-based financing, and the more traditional routes involving bank loans. Tune in to hear what you need to do to attract investors!
TIME-STAMPED SHOW NOTES:
- [00:25] Today’s topic: Alternative Ways to Fund Your Business.
- [00:37] Why people should consider funding and the problem with bootstrapping.
- [01:02] The need for funding even if you are Elon Musk or Jeff Bezos.
- [01:47] Thoughts on crowdfunding and the various platforms you can use.
- [02:22] A list of the main crowdfunding platforms and how much you can raise per year.
- [03:03] The importance of having traction before attempting to raise money.
- [03:27] How you can raise money through revenue-based financing.
- [04:15] The models that companies like Lighter Capital use.
- [05:05] Getting a traditional bank or SBA loan in the US and their interest rates.
- [05:22] What the credit card company Brex is offering in terms of credit.
- [06:01] The importance of having a formula that is already working.
- [06:24] That’s it for today!
- [07:02] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information.
Links Mentioned in Today’s Episode:
- Jeff Bezos on Twitter
- Elon Musk on Twitter
- Lighter Capital
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