Raising money for your business becomes isn’t easy. The aim of starting your business is to make a profit. How do you make money for your start-up? How does one raise money for a business?
Why not borrow money? Borrowing money seems the best effective way to raise capital for your start-up. But, the moment you realise that you’re an entrepreneurial person, make it a point of testing your business idea. Raise capital, monetise your hobby.
For you to raise money for your business, you are going to be creative and diligent. And patient at the same time.
Learn to raise business capital using the following creative strategies:
- Don’t depend on a loaning agency/ facility.
- Test your business-wiseness. Meaning, raising money for your business using different ideas.
- Learn how to market your business idea before you begin. When you know how to market, you’re going to make it a part of your business.
- Keep abreast with social media. Social media including using video marketing, Facebook Lives and Instagram Lives/Stories.
- Include a call-to-action in every promotional piece you create.
- Learn the art of copywriting. Without good sales copy, you’re not selling a single product.
- Identify your niche market.
- Know about your strengths, weaknesses, opportunities and competition (threats).
- Identify your why. Why do you want to start your business? What purpose will your business serve?
- Know about your uniqueness.
- What will be your product’s unique selling point?
- Develop a business mindset. A business mindset is knowing what to give for free, how to advertise to capture your audience.
- Creating sales funnels examples like landing pages where customers will engage your material.
- Have a marketing budget. Learn how to use traditional advertising media like newspaper, magazines and billboards. And learn how to use Facebook ads/Instagram ads to reach your target audience.
- Always learn and get determined to be a life-long learner. When you keep yourself in the loop, you know how to reach your audience and develop marketing strategies that appeal to their buds.
The following business ideas will help you raise $1000 for your start-up in Kenya:
Before you raise money for your business, know what your target market is. I cannot emphasise on that. And let external ideas like loans be at the very back of your mind.
Remember, raising money for your business is an on-going business venture. So, a side-hustle or a hobby is easier to turn into an extra source of your income for advertising/marketing.
When you learn to put yourself before your audience it becomes easier and simpler to market/promote your products/services.
Consider the following business ideas when raising money for your start-up/business:
- Sell Stuff Online. You can sell anything from old furniture like bookshelves, wardrobes, couches, benches. Ensure they’re in pristine condition so they fetch you more money. Or you can remodel them. Showing before a before and after pics on Pinterest can help create a business for you.
Do you have an empty or vacant house or space? Turn it into a home-sharing business through Airbnb or VRBO or HomeAway. Would you love to turn your Airbnb into a Six-figure income? Well, get yourself the Airbnb guide for Kenyans. Make sure to leave a review.
Inside the guide, you’ll learn: How to Master Airbnb in 3 Hours for the Beginner Airbnb User and the topics include:
Taking great amazing photos with your smartphone camera
Checking in your guests like a five-star hotel.
How to market your Airbnb through social media so you increase your revenue.
Great customer service because you need to be a great customer service provider.
among other great Airbnb topics like learning how to price competitively so that you beat your competition. If you learn how to market your Airbnb and get at least 10 bookings a month, you have the money you need for your next business.
3. Clean Houses
Individuals are moving in and out all the time. Individuals need clean houses but cleaning companies in Kenya don’t come in handy. If you clean 10 houses for $100 dollars, you have raised the capital for your business in a month.
4. Drive Uber/Taxify
Are you a car owner who doesn’t know how to turn your car into an Uber business and scale the business? Some drivers only see the earning potential for a day or to cover some expenses.
Yet you can turn your Uber/Taxify business into a Taxi business, offering transfer services to the Airport or school transportation/company transportation.
With Uber, you can earn as much as $100 a night depending on how hard you work. Always be on the App and work late nights to early mornings. Rest during office hours.
5. Do Delivery Work
Busy parents/ work at home parents are looking for easier ways to have their groceries delivered to them. You come in as a delivery driver and you can combine a delivery service with Uber/Taxify service.
You make as much as $50 depending on how you market your services or your availability. And because delivery isn’t an explored niche, ensure that you create an App to get your service out there.
6. Sit / Walk Pets
Home-owners need a break from their animals. Why not create a dog daycare where they drop their furry animals for a fee? Offer not only dog/cat services but all pets including horses and guinea pigs.
For very exotic animals, offer a premium due to their maintenance costs and care. Always ask the owners for money upfront. Charge a monthly charge. Include the cost of the animal feed in case the owner doesn’t come back as designated. Have great paperwork in place always.
Can fetch as much as $1000 per month or per animal depending. Charge your worth.
Complete tasks online for a five-dollar bill, keeping in mind the cost of taxes so it’s four dollars. May seem meagre but it adds up when you know how to create product tiers and upsells. Market your services with videos.
8. Etsy Shop
9. Find a Bartending Job
10. Start Affiliate Marketing on Pinterest
11. Rent/Co-Share Space
12. Spend Wisely
13. Tour Guide
14. Membership Sites
15. Graphic Design
16. Write Greeting Cards
17. Construction Work
18. Monetise Your Hobby
19. Sell Digital Products
20. Write e-Books/PDF
21. Teach a Class Online
22. Sell Clothes
24. Sell Old Electronics
25. Organise Homes
26. Interior Decor
27. Fulfilled by Amazon Business
29. Organise a Fundraiser
30. Sell Food