ESYB2 065 - Fundraising Introduction
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[00:00:00] With this video, I want to introduce the upcoming section of the course, which is going to be all about your fundraising options, because I know almost all entrepreneurs struggle financially and almost all entrepreneurs at some point or another, try to raise money somehow because you just need financial help.

It's very stressful without it. So in the upcoming videos, I'm going to give you many different options for raising money. You don't actually have to use any. It's not a requirement, but if you need money, you can explore the options you have, and use a combination of a few strategies that can add up to the amount of money that you need.

Because a lot of entrepreneurs get fixated, like, I want a business loan, I want a grant, and they never get that, and they stay stuck on it, and then, because they stay stuck on it, they don't move their business forward. That's terrible, right? You've got to move your business forward. So the most important thing is that you understand the options that you have, the pros and cons associated with them.

[00:01:00] And as you have more options, you're not going to get as stuck in one of them and you're going to know what to do. So after this section, the ideal situation is that you understand what the ramifications are for not raising money, how much money you need to raise if you raise your money. And if you decide to raise money after you select the fundraising options you want and after you set them in motion, you can move forward with everything else in your business.

And if you feel like maybe it's not going to be possible to raise money, like let's say you need to raise a million dollars for whatever idea you have, because some ideas require. Very little like 500 or 1, 000. Some ideas require a million or more. It's across the board. In some cases, it's just too hard.

So what you might actually do is adjust your business strategy so that you don't need as much money to get started, so that you can move forward because a lot of times the inability to raise money makes your business kind of a pipe dream. Something you talk [00:02:00] about, something you dream about, something you don't do.

And what we want to do here is either find a way to raise the money or adjust your strategy so that you can start in a leaner way, but indeed start. So with that, let's move on and explore all the ways you can raise money.

