02/03/2018
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Whether you are starting a business, striving to keep your business afloat, or taking your business to the next level, finding a source of funding is a common challenge faced by entrepreneurs. At "How I Raised Capital for My Business" last Wednesday, we heard two different stories from two different streams of startup exploits.
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Michelle Brown, Founder at Melbourne by Bike, told us about a radical approach in building her business without sourcing funds from any third-party. Not the typical funding approach in the mainstream startup ecosystem. Rather, she started building from whatever small amount she has, worked twice as hard to connect with the right people and on a trial-and-error stage until she got everything right and all aligned into their proper places. From what she has built, she was able to keep her business afloat and she is determined to do the same thing all over again to bring her business to the next level.
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On the other hand, Alan Crabbe, Founder at Pozible, provided his expertise on one of the mainstream approaches to capital raising, crowdfunding, He explained that crowdfunding is now redefining how fledgling companies get off the ground. Websites like Pozible provides a means for entrepreneurs to quickly spread the word throughout their existing social networks, with the potential for it to be shared with people they’ve never met who may be interested in supporting the project or business. In other words, crowdfunding for small businesses takes individuals’ social networks and activates them for a capital raise.
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