How to Raise Money

How to Raise Money, How to Raise MoneyThere are different ways to finance the growth of your business. No matter if you have been running a company for 3 days, or 5 years, any kind of cash flow that would boost up your business is always welcome. Depending on the exact business plan and industry niche, various methods may work in certain situations. Here, we will present you with a couple of ways to raise money from different sources, with all the advantages and pitfalls of each method.

Friends & Family

Raising funds for a startup business from friends and family is one of the very popular approaches. It is quite frequently the easiest and most convenient way to obtain funding for a startup company since friends and family care about their beloved ones and want to see them succeed. On the other hand, there are certain pitfalls of this funding method. Statistics show that the percentage of startup businesses that fail in the first couple of years is pretty high. Hence, such a failure could lead to ruined personal relationships with your closest ones.

Crowd funding

In the last couple of years there has been a rise of popularity of websites where individuals or small business owners come with their ideas and ask general audience to fund their business with their personal funds contribution. Due to the increase of popularity of this funding method, legal changes have been initiated in order to adjust certain laws to even further improve such method of business funding. Contributors usually base their investments on a reward model, quite frequently that being a service or a product that will be offered by the start company they invest in.

Bank loans

Regardless the world economic crisis, a decent number of startup businesses continue to raise loans from banks for their innovative business ideas. Even though banks require all sorts of guarantees that your business will pay them back, this is still the most popular way of business funding.

Angel investors

After succeeding in business with their own startups, successful entrepreneurs are frequently willing to re-invest some of their hard earned capital into other startup companies. Such investors are called “Angel” investors. Besides the sheer funding, angel investors can significantly contribute to startup businesses with their business connections and advice. Therefore, this kind of funding and cooperation can be beneficial on multiple levels.

Venture capitalist investors

Venture capitalists are those investors that provide capital to companies in an early stage of their development, when they need additional funds to expand to other markets or to cover additional products or costs. Although this kind of investment carries one of the largest risks for venture capitalists, the chances of high returns appear to be worth the risk.

Business partners

Finding another partner, or more partners for your startup ideas and business is an excellent solution in cases where you just don’t have enough funds to get the ball rolling. Nevertheless, it is very important to find a person with a similar business goal and way of thinking as yours. Starting up a new business with another person and then finding out after a while that they have a completely different set of goals or ideas on how to do business can make a nightmare of your life. Hence, it is advisable to have some sort of a buyout agreement arranged at the very beginning in order to easily handle difficult situations later on should one or more partners just simply decide to leave the partnership.

Karin Jakovljevic

About the author

Karin Jakovljevic

Karin Jakovljevic is the head of marketing at Ximble, a powerful, cloud-based workforce management system, simplifying employee scheduling and time tracking for retailers, restaurants and small businesses.

Success Stories

Menchie’s

It was hard to keep Menchie’s young and mostly part-time staff informed about shift changes, until Menchie’s discovered Ximble’s easy-to-use smartphone app.

Fast Fix

Ximble’s easy-to-use scheduling tool allows Fast Fix employees to remotely access shift information, and integrates with their Point of Sale and Payroll systems.

Spry Health

When spreadsheets became too complicated, Spry Health sought simple, cost-effective timekeeping software so they could concentrate on growing their business.

Spirited Gifts

Since switching to Ximble, Spirited Gift no longer struggle with employees turning up at the wrong time, for the wrong shifts.

Re-bath of South Florida

Re-bath required timekeeping software that was simple, flexible, and that could grow with their business.

Vastrm

When they outgrew their own internal system, Vastrm chose Ximble to track their part-time and contracted employees, both in and out of the office.

Excellence Martial Arts

All that Excellence Martial Arts were looking for was basic employee timetracking, with payroll reporting. Ximble’s cost-effective software was the ideal solution.

Collab Inc

Manual timesheets were a poor fit for Collab, and with no easy to feed the data into Gusto they began looking for a viable solution to their scheduling and time tracking headaches.

Carolina Moves

Follow Carolina Moves’ journey as they transitioned from using an archaic time tracking and data entry methods to using something that could optimize their processes and integrate with Gusto.

Bearings Bike Shop

Read how inaccurate time keeping methods forced Bearing Bike Shop to approximate working hours leading to significant losses over the year, until implementing Ximble.

Mermaid Life Chameleon

Needing a simplistic solution to their scheduling and time tracking needs, Mermaid Life didn’t want a solution that would over deliver and overcharge for what they required.

Krein Knives

Outgrowing spreadsheets, Krein Knives now needed a time tracking solution that could accurately track irregular working hours and automate as much of the administrative process as possible.

Garmentory

Looking for automation and simplicity, Garmentory turned towards Ximble in hopes of resolving their time tracking woes.

Novvia

With their eyes set on rapid growth, Novvia needed to implement a scheduling solution that could effectively scale as the business grew while integrating with the existing payroll system.

Story2

Discover how Story2 resolved their time tracking and payroll problems by implementing Ximble into their arsenal of tools and integrating it with their payroll platform, Gusto.

CareCentric Pty Ltd

Spreadsheets lacked the scalability and flexibility that CareCentric Pty Ltd needed as they grew and needed something that would be responsive to their changing needs.

Bou Cou Dancewear

Struggling with varying availability of staff, scheduling for multiple store fronts and managing payroll, Bou Cou Danceware needed a solution to their scheduling and time tracking needs.

Best Pets Veterinary Hospital

Constantly fighting wasted time from data entry errors, outdated methods of scheduling and time tracking were taking their toll. Discover how Ximble helps them overcome their challenges.

Hook SEO

Read how Ximble helped Hook SEO with their time tracking and scheduling problem when they noticed too much time was being wasted on data entry.

National Strategic

After a rapid increase of employees, National Strategic’s dependence on spreadsheets for time tracking was no longer viable. Find out how Ximble solved their problems.

miR Diagnostics

Find out how miR Diagnostics implemented Ximble’s time tracking features for their employees and how it improved their payroll operations through the Gusto integration.

Followell Fotography

Effective time tracking in and out of the office and Gusto integration was important for this photography company. Find out how Ximble stepped up to meet the challenge.

CARP

Ximble provided an inexpensive and user friendly solution to CARP’s time tracking and Gusto integration needs. Find what won them over and how it bettered their operations.

iLoveKickboxing

Discover how the time tracking and extensive feature of Ximble helped improve ILKB’s operations with the Gusto integrations and ximbleChat platform without breaking the bank.

Techpoint1

A tech savvy company that integrates technology into your offices and homes. With their skill and knowledge, they turn your ideas into reality.

Wise Owl Animal Hospital

An animal hospital that combines traditional and modern medicine to provide superior animal care. They raise awareness and provide advice on excellent pet care.

Armstrong Property Management

A property management consulting that specializes in home real-estate. They offer an abundance of services to property owners.

Parsaco

A restaurant consulting company that helps you take your business to the next level. With the best advisors, they can help you expand your business.

Liquid Consulting

A consulting company that strives to become your food processing partner. Comprised of skilled technicians and employees to improve your business.

Alta Animal Hospital

Find out how Alta Animal Hospital do away with printed shift calendars and move to a 100% mobile platform.

Montefiore

Read how Ximble helps Montefiore eliminate the need for multiple spreadsheets and calendars.

Rudy’s Pub & Grill

By utilizing Ximble, Rudy’s Pub & Grill has seen a 60% decrease in missed shift from schedule confusion.

TouchSupport

Learn how TouchSupport was able to manage employees at multiple locations with ease and save 8 hours a week by using Ximble.

Try Ximble for 14 days free

No credit card required. Cancel any time.