If you want to take your side gig to the next level and make it a business, securing funding is going to be an important step! Your business, no matter what it is, can definitely be successful. Like you’ve heard, “It takes money to make money”. As a college student, getting the money to make it happen might feel like a daunting task. Don’t give up on your idea just yet, let us walk you through some places and ways you can get the funding you need to start your business in college!Crowdfunding
Once you’ve got a good vision for your business, present it in a professional and convincing way to bring in those public donations. Leverage your social media to make sure your crowdfunding campaign reaches far and wide. With honest and confident messaging you can definitely get people on board monetarily. Check out Kickstarter, GoFundMe, Indiegogo and Crowdfunder to get started!
Friends and Family
Reach out to friends and family to ask for their time to talk about funding your business idea. Remember any money is valuable and these are people who have your back! Be transparent with them regarding the help you need in terms of loans versus donations. Pro-tip: Send out hand written thank you notes to show your gratitude as they support your business!
With a little bit of budgeting magic, you’ll learn to put aside a small amount of money every month to add the pot that finances your small business. It might mean a few less white claws a weekend, but who knows, if your idea takes off you might be able to get some more than you could before!
Look out for seed funding competitions both inside and outside your school’s resources. Don’t be discouraged if you don’t win the first one you apply to, ask the judges for feedback. Increase your chances of getting funding by entering more!
Though money may feel tight as a college student, you shouldn’t have to give up your stellar startup idea. Try out the ways above to get funding and remember that you can get up to $2000 of KoraCash in as little as two days if you need a jumpstart!