From the course: Getting to Yes: Advice for Female Founders on How to Get Funded
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What do you need to raise money?
From the course: Getting to Yes: Advice for Female Founders on How to Get Funded
What do you need to raise money?
- You have a great idea for your business, you think there's customers out there. The next question you're thinking is, do I need to raise money and what kind of capital should I be raising? If you have enough capital to get started on your own, it's something we call boot-strapping, I highly encourage you to do that. Outside capital is extremely expensive. There are also different types of capital. You could choose what we call non-diluted funding. That means that nobody takes anything from your business. This could be in the form of a grant, especially if you're doing something in the social good category, there are a lot of grants available to fund you, there could be grants available from a school that you went to. That's the best kind of funding you can get. Then next there's debt funding. This is like a loan from the bank that you pay back. Interest rates for that can be sometimes less expensive than what we ask for when we invest what is called equity funding. We take a piece…
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