There was a time when managing a startup company gave you limited choices when it came to acquiring funding. For example, you could either get a loan from a financial institution, build the fund by yourself, or get help from your connections. There was not a lot of room for creativity when it came to securing funding.
Nowadays, the business landscape has changed drastically. While getting the funding for a startup venture is still a considerable challenge, there is no denying that there are far more opportunities to get funding now than there ever has been before.
The benefits of a connected world
Since the dawn of the Internet, mankind has consistently moved closer together through the use of forums and – more recently – the social media phenomenon. It is thanks to social media that businesses have an opportunity to build a marketing campaign without having to invest a significant amount in marketing. When it comes to increasing brand exposure, social media has been a great help in giving startups plenty of opportunities to be seen and heard.
That said, exposure is not the only advantage businesses get from technology. There is also the trend of crowdfunding, made popular by sites such as Kickstarter. Many companies have made a tremendous amount by reaching out to the rest of the world and asking for support in return for advantages that typical consumers might not receive. While it might not always work, depending on the circumstances, the results could be incredible.
Millions upon millions have been raised through crowdfunding campaigns, which is amazing as most companies did not have to pay a single thing to start the campaign. Even if it is only the promise of something rather than a guarantee, many would still take the risk.
Companies geared toward tipping the odds in your favor
While crowdfunding is undoubtedly a popular means of acquiring funding for a business, there are other services out there that are tailor-made to help startups get the help they need. Business such as Become.co provides companies with a means to acquire funding without having to suffer through trial and error to get the job done.
After all, there are plenty of businesses out there that have ended up failing due to being wrongfully denied funding. What services such as Become does is provide businesses with insight regarding the best ways to fund their company. Whether it happens to be a startup or a veteran company, services geared toward acquiring funding can be an invaluable asset, and will likely only continue to improve as time goes on.
With regard to how technology has changed the way companies acquire funding, the difference between then and now is like night and day. There are more opportunities than ever before to acquire funding – with some solutions not requiring any investment at all to accomplish. As technology continues to flourish, more creative ways of acquiring funding will undoubtedly surface.