How to Quickly Raise Startup Capital for Your New Idea

Do you have a great idea for a new business but you lack the funding needed to get it off the ground? Many people don’t go after their dreams simply because they think they don’t have the money needed or they don’t want to take out personal debt (or cannot qualify for a loan).

This is not a reason to let a dream die or to not go after what you want. There are ways to slowly stack up the money needed to launch a business idea. Is it easy? No, but those that are willing to put in the extra work will be rewarded in the end.

All it takes is drive and determination. While your friends are watching TV at night are you willing to hustle? Rather than going out on the weekend to party are you willing to grind for 12 hours a day? If yes, then keep reading.

Start a Side Hustle

There are so many side hustles that you can start with little to no money. From flipping items on eBay, Craigslist and Facebook Marketplace to starting a mobile car detailing service, you just have to think of something you have the ability to do and one that has enough demand.

“One of the easiest ways to start a side hustle is to build one around what you are into. For example, if you love sneakers, consider hustling on the side to flip them,” suggests Henk Schipper of Jaloezieen Fabriek. Buy and sell.

It’s much easier to grind nonstop in your spare time when it’s something you enjoy.

Sell Off Everything You Don’t Use

There is probably a good chunk of your startup capital sitting in your closet. From old electronics and video games to clothing and specialty items.

“Audit your closet and pull out everything that you have never worn in the past year. There is a good chance you will never wear it again, so make some room in your closet and some money at the same time,” offers Lisa Rush of call center outsourcing company Staff Outsourcing.

The best place right now to sell things is Facebook Marketplace. There are buyer for almost anything.

Do On-Demand Delivery in the Evenings

You can always put your car to use and drive for Uber, but if racking up all those miles on your car isn’t appealing consider one of the other delivery options, like GrubHub or Postmates.

If you live in a city you can do these runs on a bike or even an electric scooter. There are lots of options and you can make decent extra money if you are a hustler.

Speaking of electric scooters, one of the most popular side hustles now is recharging them in the evening.

Do a Friends & Family Round

“Friends and family are always a good first stop if you decide to raise funds,” explains the owner of Monos. “But, be certain your idea is validated before approaching them.”

It’s always going to be much easier pitching friends and family than it is complete strangers. Make sure to treat it just like any other VC funding, because the last thing you want to do is create tension and fights because a deal goes south.

Business