12 {{ upvoteCount | shortNum }}
12 {{ upvoteCount | shortNum }}

How To Raise Funds For IM Projects?

by Joe Ray
10 replies
Does anyone have experience in raising funds for IM projects? Can anyone share with me what is the best way to write a Business Plan for a start-up online business and where to find potential funding.
#funds #projects #raise
  • Profile picture of the author Jason Freeman
    If it is low level stuff then just start out bootstrapping it. You can do services to make some quick money or create a website and flip it.

    You might also consider doing a campaign on gofundme.com or one of those sites and tell your story of how you want to start a business online.

    If this is a major project you should consider talking to angel investors and venture capitalists. There are many good sources of information for this, but one of the best people I have heard explain it was Tim Ferris.
    Signature


    {{ DiscussionBoard.errors[9150947].message }}
  • Profile picture of the author vickybabe
    I would suggest writing up a solid business plan and then sticking to it, otherwise you are going to need a whole lot of capital

    If you know how much your business will need, it makes life a lot easier

    Bottom line: Make a plan and don't spend money here, there and everywhere
    Signature
    {{ DiscussionBoard.errors[9150981].message }}
  • Profile picture of the author brutecky
    I got started by doing freelance work, the income from which I saved so I could start my IM business.
    Signature
    Join over 7500 marketers on my Facebook group and also get tons of free tutorials and software to help you with your business.
    {{ DiscussionBoard.errors[9151019].message }}
  • Profile picture of the author shakamon
    Problem is there is an endless sea of IM startup ideas looking for funding. You can try partnerup google community.
    {{ DiscussionBoard.errors[9151030].message }}
  • Profile picture of the author Joe Ray
    Thanks for all the answers.

    I just want to add some additional details to my original question:

    I have been in business (offline) for over 20 years but in the last 5 years 80% of my company's income is earned online either directly or indirectly from IM.

    I am familiar with the fund raising process for offline business. What I would like to learn is how to put together a Business Plan for the purpose of raising money for an online business.

    Online business is very different from offline, this is why I am looking for some guidance so I can raise money to start up new online project I am developing.
    Signature

    {{ DiscussionBoard.errors[9151038].message }}
  • Profile picture of the author shakamon
    Are there any busines plan software templates targeted/geared toward online start ups? I would be interested in that as well.
    {{ DiscussionBoard.errors[9151060].message }}
  • Profile picture of the author Trevor Becker
    If it is low funding range , look in JV sections of webmasters forum and if it's on high range look for it in angel investment network . . this should work.
    {{ DiscussionBoard.errors[9151247].message }}
    • Profile picture of the author Joe Ray
      Originally Posted by Trevor Becker View Post

      If it is low funding range , look in JV sections of webmasters forum and if it's on high range look for it in angel investment network . . this should work.
      Thanks very much! However, both the potential JV partners and the Angel Investors will ask for a Business Plan.

      This is why I want to learn how to create a business plan for an online business.
      Signature

      {{ DiscussionBoard.errors[9151510].message }}
  • Profile picture of the author bones46
    You can get free help in researching and developing a business plan from the SBA, SBDC or SCORE offices in your area. If one is not in your area, your can work with SCORE online. They might also be able to help you secure local funding.
    As to raising funds now - try crowdfunding - it is all the rage.
    Signature

    {{ DiscussionBoard.errors[9354040].message }}
    • Profile picture of the author kathyroller
      Agree with everyone...a business plan first. Why NOT try crowdfunding...totally is the rage! (full disclosure here)...I work with a crowdfunding platform, MoveYourMountain.org. There's no up front fee to start a campaign and start networking within your social media reach to try and secure funds (quickly). Have a plan, set an attainable goal amount, and start networking. potato salad...need I say more?
      {{ DiscussionBoard.errors[9361922].message }}

Trending Topics