Entrepreneurs, business founders, and startups come up with exciting ideas quite often. But the biggest challenge these start-ups and business founders face while executing their ideas is the lack of capital and troubles while raising funds. Businesses can either focus on improving their products and services or on putting all their efforts into fundraising activities.
In this dual dilemma, businesses are at a huge risk of either making it or breaking it with their ideas. Along with this, there are numerous other aspects of fundraising businesses that are unclear. Whether to raise money through equity, loans, or venture capitalists is a big question for them. In such situations, hiring infrastructure advisory firms in the UAE is the best thing businesses can do for themselves. For example, Royal Machineries (disguised name) had come up with a unique solution for bench vice. They needed funding of 1 million US dollars to manufacture and market their product aggressively. They met nearly 12 venture capitalists and several banks before hiring us. We helped them identify where they were lacking and how to optimize their profile. They listened to us and implemented the solution given by the Green Urbane’s team, and bingo, within one and a half months they raised nearly 1 million dollars at a very affordable rate.
Taking this case, our team at Green Urbane decided to compile this blog to help fellow businesses know things before they raise funds.
1. Think Differently And Outside Of Traditional Sources
Angel investors and venture capitalists are traditional sources of raising funds. However, today, the sources from which a business can raise funds are not limited to only a few options. With the advent of technology today, there are more options available than ever. If, as a start-up founder or business owner, you find yourself stuck battling between a few sources, your best bet is to hire an infrastructure advisory consultant in Dubai.
Your infrastructure advisory firm not only introduces you to modern channels for raising funds but will also optimize your business profiles to make sure that you successfully raise funds. When you hire advisory firms like Green Urbane, we help you reshape your business narrative and optimize it. You don’t need to be pigeonholed or stuck somewhere between two ends. We can help you raise funds from equity or investors and can also help you raise money from five or six smaller sources rather than one big source.
2. Knowing How Much You Need Is Necessary
Many start-ups, especially women-led start-ups, end up raising money for a much lesser amount than they require. While you raise funds, it is a must that you chalk out a plan for your business and make some projections. Like a vehicle is guided by a compass, you must navigate your business with a reliable compass too. For businesses, planning and analyzing business backed by data is important. That way, you can scale up your business faster than assimilated and achieve better results. When you hire project finance and infrastructure advisory UAE, you get ideas on how to project your business and plan it from a fundraising point of view.
3. Be Ready To Invest Your Time
The biggest investment, as a business, you will make while raising funds is your time. Most businesses are told that they could end up spending 70% of their time on activities related to fundraising, but businesses don’t take this seriously until they end up spending so much time. When you hire project finance and infrastructure advisory in Dubai, you can focus on managing your business and investing your time in adding clients while your advisory firm does the fundraising job. In business, time saved is equal to money earned. There have been many cases where founders have run out of money while looking for investment when they could have utilized the same time to earn money. So you could hire an advisory firm to do the raising for you, or you could also hire an experienced business manager who can watch over your business while you raise money.
4. Don’t Neglect Your Business
Like we said earlier, most founders focus too much on raising money. They get engrossed so much in it that they end up neglecting their business. When you compare deciding priorities between raising money and managing a business, as a founder, your obvious choice should always be managing the business. No matter how raising money looks tough, it can always be taken care of by professionals like fundraising consulting firms in Dubai. But as a founder, you know every little aspect of your business, and it becomes difficult for someone to step into your shoes and manage the way you are managing. So, rather than hiring a manager, you should hire a fundraising consulting firm that ensures two things: first, your business activities run smoothly as they always have, and second, your chances of fundraising increase exponentially.
5. Ask For Help From Everyone Around You
The trends of the past decade have conditioned businesses to think that if they don’t raise from an angel investor or a venture capitalist their company won’t be considered as esteemed and reputed. Gone are the days of such old-school thinking. Today’s market scenarios have changed completely and taken a 360 turn. Today if your business can provide a sustainable and effective solution it will be accepted by the public no matter where you raise your funds from. Don’t hesitate in asking for help from your friends and relatives, you never know when one of your friends is trying to invest his family wealth in a good opportunity. Many advisory firms even big-ticket PPP infrastructure financing in UAE use help from their peers and immediate friends or family for raising funds.
Green Urbane is a leading fundraising advisor based in Dubai, UAE. Over ten years, our team has successfully enabled many of our clients in turning their passions and dreams into reality by helping them raise funds.