One of the greatest hurdles to scale while attempting to become financially free is your capacity to raise capital. Every entrepreneur understand the importance of capital to their business success especially where there is a tendency for competition, you need capital to capture opportunities, maximize profit and sustain growth. It is capital that turns vision into reality, a possibility into reality.
Let’s now go ahead to unveil how best to raise capital regardless of your current position and circumstances.
- Asset Sales
Your assets simply put are thing that have appreciated over time and can be turned into cash at any given time. Your asset determines your financial status and net worth. Selling some of your asset is the quickest way to commit yourself and others towards your mission.
- Talent Marketing
Your talent are divine abilities within you, and your unique selling point of in-estimable value. Capturing opportunities that matches your talent automatically places you at a superior advantage.
More millionaires are cutting across all sectors using their talent to break even. While some are doing that in ICT others are making it happen in entertainment and sport. As a person you must locate your talent and begin to make capital out of it.
- Salary Increases/Bonuses/Allowances
Change they say is the only thing that is permanent, however, it bothers me how people are not taking advantage of the changes coming to them as employees through salaries, bonuses etc as a means of raising capital for their project and investment. A sense of insensitivity is always followed by an act of irresponsibility. Every financial increase at work is your capital in disguise, stop wasting it.
Inheritances are one of the oldest ways of transferring wealth/riches/capital from one generation to the other. Simply put, they are God’s help coming to us through the efforts of others. While some people only reap where they sow others reap without sowing. Your inheritances are your financial boost with which you’re able to compete and perhaps dominate in your given venture.
Fortunately for many, occasions like birthday ceremony, burial ceremony and other ceremonies are always accompanied with gifts which can easily be sold or monetized. Your capacity to use occasions as a capital gain could help in financing your business.
- Group Contributions
This has been an old way local people use in helping to finance their projects or take care of financial responsibilities through joint effort coming as a result of trust and familiarity.
Group contribution sustains financial discipline and maintains focus towards a set objective. Though, it could be said to be risky as a result of breach of trust or death. Yet it remains the easiest option of raising capital without getting indebted.
- Corporative Society
Forming and joining a corporative society is a good idea towards raising capital. As corporative member you will be surrounded with like minds from where resources could be put together in achieving common goal. Similarly, as a corporative society you shall enjoy recognition from both private and public sector.
Time and again people have benefited from insurance. The compensations received through insurance policies can be easily converted into capital. That is why it is needful to undertake insurance policies with a mind of generating capital either in the long or short run.
Sometimes raising capital may require you applying for office loan like car loan, refurbishment or any other loan made possible within your organization. Such loans may come with little interest but in most cases are not likely. This kind of facility is good in that they don’t come with collateral demands or guarantor.
- Other People’s Money(OPM)
Using other people’s money simply summarises how professionals operate in the business world. Usually they seek out for return after sales approach as to be able to retain, divert and reinvest client money before the contractual deadline date. It is buy times approach to raise capital from clients.