After you have taken the courage to put your brainchild to work, you will definitely need some funds to put your idea on the table. Every entrepreneur, whether successful or mediocre, has this nightmare. Our dreams become ghosts that keep us from sleeping. This burning desire to make something out of nothing keeps us thinking and thinking over time.
Many employees, too, have this shadow chasing after them but most are handicapped by startup seed. To put yourself forward as an entrepreneur is a very big deal. With it comes the vacuum you need some funds to fill for a start. Before what you have nursed in your mind all the way becomes visible to us all, you will need funds to bring your idea to life.
When you are just starting out, you’re not at the point yet where a traditional lender or investor would be interested in investing in you.
So, that leaves you with selling assets of value, borrowing against your house, dipping your hands into your emergency vault and asking loved ones for loans.
There is a lot of risk involved, including the risk of bankruptcy with your personal finances and fractured relationships with friends and family.
This is the hard part behind starting a business — putting so much at risk. But doing so is the rite of passage to both success and failure. It’s what sets entrepreneurs apart from people who collect paychecks. You’ve got too many decisions to make in a short period of time, with inadequate information available to you at times. You become so many things to so many people at the same time. Even your close relatives will be wondering if they have ever seen you in such form before.
At this point, you definitely know you will get paid. But how you will receive your payments may not be very clear to you. You will have to decide what platform will be the best for you to receive and make payments. Before you are a range of options from traditional acceptance of cash or bank deposit to online payment solutions such as e-wallet, local or international payment gateways, and custom apps and so on.
Do as much as you could to make me your idea, yours. Many will turn you down because they don’t believe in your ability or can’t see how your business model will bring a return on their investment.
Do not be discouraged. It is your vision, so they are allowed not to see from your perspective. Seek out trade unions you could identify with.
When you find some who shares your worries, the pain becomes less. Attend networking events with the attitude to add value to those who you will meet.
Once you get over the initial problem, it is possible to seek out funding sources available to more advanced startups and early stage SMEs.
VoguePay is a user-friendly online payment platform that allows you to set up an account for free and receive, transfer funds with or without a website.