What are the options when you have a great startup idea but no capital?
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Tons of startups started this way, let me tell you what you can do in the beginning:
Do as much work as possible yourself – if you can develop the initial product or base for the product try to do it yourself. When you have idea it’s usually unique and only you imagine how it should be. Doing it yourself may help you in the future when you will try to attract the people into the team or raise the money for your startup.
Build the team – find the people that believe in your idea and are willing to do work for free or for the stake in your company. Tons of startups start with several people and they divide companies stocks in the team. This not only helps to build the company with minimal investment but also increase the chance of success. Investors think that if the company has co-founders that increase chance of success.
Raise the capital – the majority of startups raise money for there venture. There are tons of angel investors, venture capital funds and other investment opportunities around. Usually Angels and venture funds invest in already developed startups that have an initial product but in the beginning, you can raise capital from your inner circle. Friends, family, fool’s that’s are your investors in the beginning (:. Of course, there is a chance that you can raise millions by only having PowerPoint presentation from venture capital but that doesn’t happen that often (but it happens sometimes).
To sum up: many successful startups were started without any capital in the beginning. Try to use recourses you already have and do the things that you can do without money. Build a team that will increase your chance of success. And after you have the team and the initial product try to raise the capital (there are tons of ways how to do that).