Hands down the most common challenge start up entrepreneurs fast is getting enough money in the door to keep operations running. While there are many “TPE ways” of getting by with very little cash, sometimes a quick raise of cash is the solution. Here are 26 ways that members of the TPE community have raised money. FAST!
1. Pre Sale Your Service
How To Raise Money Fast: We had to get a quick infusion of capital and we went to one of our biggest and best clients told them the situation, offered them a great discount to pre pay the remainder of the yr. It worked and helped us through a challenging business need. It strengthened our relationship as well. They got to help us and they got a nice discount as well. Take a chance and reach out.
How To Raise Money Fast: Take a look through your personal belongings, and you’ll probably identify at least a few valuable items with which you are willing to part. Post them up on eBay at a reasonable price, and once they’re sold: You’ve raised cash AND as a bonus, you’ve also de-cluttered your space!
How To Raise Money Fast: Sometimes the clients with outstanding invoices could be persuaded to send a payment with a pay-it-now discount.You might forfeit 10 percent of your invoice, but you’ll have 90% right now. If appropriate, you could raise funds in a humorous way. One font designer, Chank, packaged 50 fonts, naming them “Chank’s Dental Pack” to help pay for his upcoming, expensive dental work. People bought exciting fonts and had a good laugh.
How To Raise Money Fast: First, if it’s an emergency, I visit my personal Marv-T-M. I ask my hubby Marvin for a loan. He works for Uncle Sam and has a steady income regardless. The payments are very reasonable & the interest rate is 0%. Next, I hit my own savings–having planned for this ahead!(hint!) Then I connect with my A/R accounts to push some needed cash into the pipeline (hopefully) Lastly, I send some of my ebay store items (totally separate business) in as listings ON SALE & generate cash that way.Plan ahead
How To Raise Money Fast: If you need a quick cash infusion into your business it is because you are hurting at the moment and simply need cash to survive. This only works if your model is sustainable and growing.
Offer your existing customers a discount on future purchases. Send out an email (you do collect email addresses don’t you?) letting them know they can save 10-25% by pre-ordering their next order. Change the percentage depending on your margins/comfort level. You get cash & future business to leverage t
How To Raise Money Fast: A great way to liquidate extra inventory on hand without shouting it out to the world (so everyone knows you need money!) is to hold special sales for your subscriber base. We divided our list into 4 groups (we had a big list) and sent them each an email saying “You have been selected at random to receive 40%, 50% etc off any product.” You give them a coupon code valid for 3 days and your loyal followers will flock to purchase multiple items. Happy sales!
How To Raise Money Fast: Yes I think this is the quickest some way to get quick cash in, as getting a loan or a government grant is not that easy.Nowadays some business cards are available which have several plans specifically for business owners.The only issue is you should be sure of where to spend and what to spend.But I am sure for getting money at the time of emergency nothing is better than a business credit card.
How To Raise Money Fast: If you have a whole life insurance policy, it can be a hidden source of cash. You can take out dividends and/or the accumulated value without having to repay it. Please check with your life insurance agent first because you don’t want to jeopardize your coverage.
How To Raise Money Fast: Most businesses operate indoors. A challenge when your aim is to generate fast cash. Take it outside to increase exposure and sales upwards of 500%. For example. If you operate an eatery/restaurant, blow up some balloons and take the grill outside. Give away samples, coupons and other reasons to buy to the public. Own a bike shop? Put on a free clinic on tire repair. Whatever the entity … take it outside!
How To Raise Money Fast: Be willing to give up some equity. Tap into your network – make calls to rich uncles, friends, old college roomies, whatever. At the end of the day, people love the idea of ownership, and no money means no business. Would you rather have 100% of nothing at all or 50% of something huge? Total control of one’s own business is insignificant when there is nothing to control!
How To Raise Money Fast: Work with a private lender (not a bank — they tend to take too long and they’re likely to turn you down) who can do accounts receivables financing. They buy your invoices for less than the full amount — but at least you’d have that money to spend right away rather than chase them down and get paid days later. And plus, you owe nothing as it’s money that’s yours.
How To Raise Money Fast: Any great investor is inspired by both the leader and the challenge at hand. Your job is to be upbeat; inspired, stating your request in a compelling way: “I want to build this part of our corporate product out to this segment market. It has been proven to do well for us. This is the time to move quickly and establish brand recognition, saturating this target market. They will either buy now or think of us in the future.”
Don’t fundraise from need. Fundraise from strength and specifici
How To Raise Money Fast: If you want to raise cash very quickly, you want to go with who you already know: Family and friends! Sure, there is always the capacity to strain relationships by doing so, but if you are honest, upfront, have iron-tight agreements in terms of payback, percentages, etc., it can work great and is usually the fastest way to get a quick cash infusion. The other thing you should so is to immediately establish a strong relationship with a good bank that you have a track record with. Do this now!
How To Raise Money Fast: No business should be operating without a line of credit which gives you a safety net of cash when you need it. The best time to set this up is BEFORE you need it so that it is in place when you do. So think ahead and when you have cash in the bank, RUN to set up your credit line!
How To Raise Money Fast: Call your existing customers/clients and offer them the opportunity to earn a discount on their AR or a premium on future products/services by making a pre-payment. (It’s helpful to frame this in positive terms; that you’re investing in something that will let you better serve them in the future.) Examples: Offer a one time 8% discount on AR accounts if paid in full, within 10 days. Or, offer a 10% bonus on future product or service purchases by buying a “gift card” or making an advance paym
How To Raise Money Fast: Depending on the type of business, to get cash quickly, offer a short-term special opportunity, like a sale or a last-minute teleclass or special event. Make it compelling enough that it’s a no-brainer for anyone considering your type of product or who is interested in the topic of your call or event. Keep the time-frame short to create a sense of urgency, and make it simple for them to say yes (e.g. easy to buy, great price, added bonus, recording of the teleclass, etc.)
How To Raise Money Fast: Create a hot topic training that you know your clients want. Instead of spending a ton of time on developing the training focus on creating marketing buzz around the new program. Use FB and twitter to gain momentum. Writing great content about the subject matter on your blog is key. Keep focusing on marketing until your program is full. Once the launch is done and the participants signed up, go back and develop the training. This way you are focusing on what matters NOW – bringing in money!
How To Raise Money Fast: Add something special (or extra) to your current product or service for a limited time that adds value to the purchase for the customer. Customers will want the added bonus for the same price of your current product or service. For example, on the Diva Toolbox we offer 1 full year of advertising for the price of three months. Everyone loves a bargain!
How To Raise Money Fast:
* Offer to speak for one of your Contacts Events for a small fee, or FREE if you can have a table to sell your book and/or CD’s in the back of the room
* Write an E Book that can be sold and downloaded on your expertise to share with others.
* If your company has products put together a special offering for a limited time and blast it out to your email database.
How To Raise Money Fast: Every time you get a check, put 10% of it into a special account. This is your rainy-day money. The next time you need a quick infusion of cash, turn to your stash and you will find it’s raining–not pennies from heaven–but $20 or $100 bills from heaven.
How To Raise Money Fast: The best way to make cash FAST is to dramatically discount your services. Alert your past customers,and use quick and effective guerrilla marketing techniques to get new ones. This will draw attention to your business and take away from your competitors. Although you will not be making as much money as you would like to make for your services, when you need cash fast, any cash is good. Furthermore,the incoming business will generate future profits/customers that will keep your business moving.
How To Raise Money Fast: Ok…. don’t panic!!! If selling some unused or unwanted items from Ebay takes too long, I guess you can shift some assets around. You may have to get a cash advance from a credit card or a small home equity loan. Most everybody has done this. It is an expense to the business and can be prorated on the books for the year.
How To Raise Money Fast: Negotiating a line of credit for your business provides cash when you need it. Small firms and start-ups may be able to do this against personal accounts. This takes advanced planning but can be well worth it.
How To Raise Money Fast: If it is a cash flow issue and you have invoices that may not yet be due, there are businesses out there that will loan you the money due on the invoice (minus their fee.) It is much like getting a short-term loan except that the collateral is the invoice.
How To Raise Money Fast: If you SYN it is not a bad thing. The fastest way to raise money is to SYN as in Search Your Network. Present your plan and needs to friends, family, and assocaites to see what they can offer and bring to your table.
BONUS - So here is one technique that really works fast. Go to an organization or group that already raises money regularly (think church, temple, or non-profit here). Explain what you are doing with your business, what your need it and most importantly how you will reciprocate (perhaps giving 10% of proceeds back for life). You will be amazed at how quickly these organizations can raise money quickly when it is around a specific cause that will ultimately return to the organization.
Great info. Thanks Mike! And thanks for using my tip!
26 Ways to Raise Money Fast | Innovate Arkansas Says:
August 18th, 2009
[...] to raise money fast and your guardian VC isn’t responding? Check out some of these suggestions courtesy of the Toilet Paper [...]
Chris Gloss “The Possibilitarian” Says:
August 18th, 2009
One of the fastest and most creative ways to generate cash in a slow economy is to create and affiliate program. We know in a tight economy two things will exist 1) People will have a need for additional income 2) People will recommend a good product or service.
Use social networking sites, email marketing and call your friends. Family. Offer them a percentage (10% -40% or whatever you can handle) of the sale of your products or service. They will lead you to a market that has been closed off to you or out of your reach.
J. Scott Alexander Says:
August 18th, 2009
Thank you for the great information. Always remember, you will not recieve if you do not ask. Ask for the business, ask and if you need cash, ask until someone says yes. As an entrepreneur we don’t give up and we see opportunity that others can not see.
Regards,
jscottalexander.com
Gene Cash Says:
August 20th, 2009
Good thought from Wendy Kenney how to Raise Money Fast.
We don’t think about life insurance in such vision.
Craig Wolfe is absolutely right about raise cash very quickly, you want to go with who you already know. I know it from my own example.
Shari Wilson Says:
August 27th, 2009
SYN. Search Your Network. We often forget to look at who we know and places we frequent. Why do we always forget that? Our friends, family and associates are the easiest places to reach out. Get in a habit of talking SHOP with those people. You would be amazed how many resources you actually do have at your fingertips. Thanks, Derrick!
Frank Schlaht Says:
January 23rd, 2010
Since you have put a heap of work into itWow what a post!
August 18th, 2009
Great info. Thanks Mike! And thanks for using my tip!
August 18th, 2009
[...] to raise money fast and your guardian VC isn’t responding? Check out some of these suggestions courtesy of the Toilet Paper [...]
August 18th, 2009
One of the fastest and most creative ways to generate cash in a slow economy is to create and affiliate program. We know in a tight economy two things will exist 1) People will have a need for additional income 2) People will recommend a good product or service.
Use social networking sites, email marketing and call your friends. Family. Offer them a percentage (10% -40% or whatever you can handle) of the sale of your products or service. They will lead you to a market that has been closed off to you or out of your reach.
August 18th, 2009
Thank you for the great information. Always remember, you will not recieve if you do not ask. Ask for the business, ask and if you need cash, ask until someone says yes. As an entrepreneur we don’t give up and we see opportunity that others can not see.
Regards,
jscottalexander.com
August 20th, 2009
Good thought from Wendy Kenney how to Raise Money Fast.
We don’t think about life insurance in such vision.
Craig Wolfe is absolutely right about raise cash very quickly, you want to go with who you already know. I know it from my own example.
August 27th, 2009
SYN. Search Your Network. We often forget to look at who we know and places we frequent. Why do we always forget that? Our friends, family and associates are the easiest places to reach out. Get in a habit of talking SHOP with those people. You would be amazed how many resources you actually do have at your fingertips. Thanks, Derrick!
January 23rd, 2010
Since you have put a heap of work into itWow what a post!