The thing about having a big idea, is that often to make it happen, you have to have money. And unless you’re already independently wealthy, it’s logically improbable just to have enough extra cash floating around that you can throw it at a new project, and still maintain your current lifestyle.
Thus, many next big ideas won’t ever get started. However, there is hope! If you break your idea into sizable chunks and figure out how to get the cash flow going using these five potential avenues, at least you’ll give your concept a fighting chance to be born into the world.
Try Out the Crowdfunding Path
Crowdfunding has been around for a few years now, and many thousands of people have been able to start projects that would not have been able to otherwise. By setting up a crowdfunding account that people can search for, you can present your idea in a compelling way, and if there’s enough interest, you’ll get at least the initial cash flow that you need in order to get your idea moving.
Hit Up Friends and Relatives
You’d be surprised how often some of your best and biggest supporters at the beginning of your next big idea are going to be your friends and family. And especially if you’re only looking for small contributions, particularly if you’re not sure if you’re going to be able to pay them back right away, then that’s the way to go. It’s still good to give them a general business proposal, at least so you know that you’re organized, but don’t be afraid of the financial support they give you voluntarily.
Big Money Is Available from Angel Investors
For really huge or really detailed big ideas, you want to look into angel investors. The chances of these people being interested in you is specifically slim, but if you do get their attention, then you’re probably hooked up all the way through completion of your idea.
Small Business Loans Are Available for Bigger Ideas
If you’re looking to start a business that goes along with your big idea, then the best way to make cash to support your concept is by getting a small business loan. There will be some protection in there against things like debt and bankruptcy officially, so this is a responsible direction to go for big ideas that have a more practical stint to them.
Sell Things You Don’t Need
The last way to get cash for your startup idea is to just sell all of the things that you have that you don’t need. Old or unnecessary equipment, clothes, gear, furniture – anything that you want to clean out of your life, use the money from your fire sale to start in a new and profitable direction!