One of the most important — and difficult — steps in starting a business is finding the money to turn your idea into a reality. How you fund your business can have long-lasting effects on its growth and profitability.
If you’re like many new entrepreneurs, you probably think venture capital is your best option. After all, raising capital means seeking “partners that go beyond the money and who have access, connections and resources that can exponentially increase value for your company,” explains tech entrepreneur and angel investor Ingrid Vanderveldt.
For some, bootstrapping, or self-financing, may be a better first step — a way to prove “that the market wants to buy your product” before seeking formal investors. And that, Vanderveldt says, “increases value, reducing the amount of equity you need to give out to bring that new money in.”
Have questions about whether your startup should bootstrap or raise venture capital? Get the answers you need on November 17 from Vanderveldt, venture capitalist Faysal Sohail and bootstrapper Dale Nirvani Pfeifer.
Ready to test your business ideas? Take part in Global Entrepreneurship Week November 16–22.