An IT startup is an awesome business idea, but getting funding for it can be rather challenging. If you want your startup to succeed, as well as to keep the momentum going, you’ll need to find ways to get money for your startup. No matter whether it’s a new cool app or some unconventional service that offers cheap essays online, raising money for the company will be one of the first steps you’ll need to take.
Convincing investors can be tough. Therefore, learning more about the stages of startup funding will help you be more prepared for your meetings with potential investors. If you understand what you are required to do at each stage, convincing investors to engage and become a part of your startup will get easier no matter whether you are trying to present to them the cheapest essay writing tool or a service that makes their everyday life easier.
Here are the stages of IT startup funding.
1. Seed Capital
This is the earliest investment source for your startup. The sources you can get money from at this stage include your own savings, money which your friends and family can lend you, credit cards, and crowdfunding. Depending on the type of startup and the amount of money you need, it may either be enough at first or will only serve as a first investment wave for developing your startup.
If you have created a service similar to CheetahPapers.com and want to provide cheap essays online as well, you will need a huge team of experts who will help students with their assignments, as well as be able to offer cheap essay help all year round. Thus, the first thing you should do at this stage is present your idea and explain how you are going to make money once your business is up and running.
In this case, your goal is to prove why offering essay writing services cheap is still relevant, as well as show how many students are still looking for the cheapest essay writing agency on the internet. Keep in mind that you are supposed to offer a deadline when you are going to return the money you borrowed, as well as provide regular updates. If you want to launch a cheap essay paper writing business, a lot of work is ahead of you.
2. Angel Investor Funding
As soon as your startup starts to grow and you are going to need more money, accredited angel investors, also known as SEC, are the best option at this stage. These are people whose net worth is at least one million dollars while their annual income is no less than two hundred thousand dollars.
The main difference between angel investors and other types of investors is that these people use their own money for startup financing, and they either invest individually or pool their money with a group of other angel investors. At this stage of IT startup funding, you will need to prepare a convincing pitch
This article was written by Editorial Staff and originally published on WP Newsify.