How to secure business funding?
People of Hive who have built a business or an organization in the real world, how did you go around getting your first bit of funding to get started or how did you get it off the ground in the beginning?
- What business or organization did you start?
- How did you get your first bit of funding?
- How much funding did you get? (If you are willing to share)
- What kind of marketing did/do you do?
- Is there something you worry about when it comes to your business?
- How much time did you spent on building your business?
- What did you wish you knew before starting your business?
I am asking because I have to a place in my life where I feel like, if I don't do anything or start a business / NGO, I will stuck being a slave for the man instead of being a slave for humanity(hehe)
I am slowly trying to figure out how to start a NGO and I currently looking into people who have already started a NGO who might be able to give me some insights.
I am also working a short pitch to get people excited about my NGO and increase the likelyhood of me getting some fundning.
Now I need funding to be able to go fulltime and focus 100% on this NGO, not much but enough to be able to pay for my bills while also paying for marketing to get started.
So ye, thats why I am curious about these things. Also if you can, feel free to add whatever info you have! :D
Will bekeeping an eye on this. Starting a business is really scary man.
I've considered it many times but I always feel so scared. If I was ever going to start a business, I'll just raise the capital from my own activities. I might be old before then but better late than never lol
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Thanks! Appreciate the reblog aswell buddy!
If I had the money I would start. But we are talking about starting a NGO/Charity just like Unicef. That requires more money than I have now and will have in the near future x)
I am formulating a business plan and will go deeper into the amounts needed, but if I got 150k usd, I would be able to go fulltime for almost 2 years + have enough in funding for marketing!
Thats why I am curious!
I also have setup one meeting with someone from my union, to see what they can help with ^^
Good luck with your plan. I hope it works out
Thanks buddy. Its very early days! Still drafting the business plan ^^
I've been reading about this. Though VC's are slowly becoming less popular, they are still a big deal for getting initial funding for projects. If you project won't be a for-profit you could look to partner with a non-profit/NGO in the same field and seek to make your own branch off that. DAO's are a relatively new form of funding, you could pitch your idea where you have a significant stake and see if the community wants to get behind you. Most successful businesses I know started with a loan of somekind from family, friends or unfortunately a bank... There are a bunch of options, so it can be overwhelming (I know it is for me) but I know that it will be worth it one day
Its a NGO, a VC or a private investor would properly be the best options. Kinda what it to branch out like Unicef and get some of their market share even though I am in renewable energy.
DAO's maybe. The problem is the tax on crypto here and I don't know if they will let it go if its for a NGO x)
(Tax is 57% on personal crypto gains)
I don't know your tax situation with confidence, but you should absolutely look at the crypto side of donations because I have read that individuals/companies can save up to 30% on their taxes by simply donating to non-profits taking crypto, I have to assume from that the taxes aren't being taken on by the non-profits in that situation but are rather being forgiven in some way. Once again, not an expert, but you never know. If you are hitting a VC up, just go in with confidence and work on a nice pitch deck, a few of my friends that work in that field say that the pitch deck is the most important part because a lot of the research and initial work is being done by interns/new employees and the best way to catch an unseasoned eye is to make your work pop out on the pitchdeck. I hope you find the funding you are looking for, let us know what the project is as it progresses so we can check it out!
I have no idea about the tax on NGO aswell. Its just confusing here because the Politicians have no fking clue what they are talking about xD
We pay 24% in Dividends from Stocks, but 57% in Crypto? Like whaat?.
Crypto donations is already in my plan in "Phase 2", so I will 100% be doing that, just gotta figure how^^.
Thanks! I have a meeting with a person from my Union next friday. So hopefully she/he can shred some light on all of this or even reach out to some people ^^
Thanks :D
No buddy!! I need answers!!! Haha xD
Yay! 🤗
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I have worked and volunteered in different NGOs and non-profits over the years and have some experience in fund raising for NGOs. About getting funding, it really depends on what kind of issues your NGO will be doing. Are you going to focus on environmental issues, poverty alleviation, or political empowerment? These things will matter when it comes to securing your funding. Where will be your target beneficiaries or focus areas? Who will benefit from the NGOs activities? Are you planning on fund-raising in a developed country then provide help/assistance/services in a third world nation? Or will services also be in the same location? I guess it's all about finding out what you want to do in the beginning, then finding out who are the donors who provide funding in this area of concern. Hope this helps. :)
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Yes. Environmental issues/Renewable installations.
What does this mean?
The World xD
Are you planning on fund-raising in a developed country then provide help/assistance/services in a third world nation? Or will services also be in the same location?
Well, I will start in my own Locations and expand over time :)
Example: I was thinking of maybe micro-loans for married women located in densely populated urban populations.
I guess you already have some of the things figured out. For starters, I suggest that you write down a short concept paper of what your NGO will be. Maybe similar to an elevator pitch but with more details included and focusing more on the big picture, vision-misssion stuff. Good luck! :)
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Ehm? xD
The target would be to Greenify the world, if that makes sense.
I am working on a "business plan" or Concept paper ^^
Thanks! :D