Is it better to wait until you've secured funding to start your venture or bootstrapping it with limited resources now?

[Moseschidera]

I wouldn't advise waiting for funding unless you are absolutely sure that you will be able to secure it within a very short period of time. The reality is that raising funds can take months if not years sometimes and there is never a guarantee that you will be successful. A lot of promising startups lose their window of opportunity while waiting endlessly for funding because competitors moved faster without waiting. You déjà have an innovative idea, so I say don't let it go to waste by sitting idle waiting to get funded. It's usually better to start small with your own resources or from family and friends, prove your concept works and that there is genuine customer interest in your solution. This will make it much easier to raise professional funding subsequently once you are able to show some sales traction. The best ideas don't wait, they get to the market as fast as possible before others can copy them.

 

[King Belieal]

Anyhow you want to see it, there is a level of monetary resources that is ideal to start a business even at the basic level. You have to work to raise that minimum capital through bootstrapping.

 

[eLdavis]

I think it depends on each individual though, like myself i stated my business with limited funds and from there i started building things step by step.

 

[Stardom22]

ln my own opinion l would go for the waiting until l fully fund my business idea before starting it over. It's better to start with a bhang than starting the business with a limited amount of capital.

 

[Xtynehappy]

Waiting until you get all that is required for the operation of the successful business is indeed very crucial.

 

[magnus2022]

It is far more better to wait till the funding is available. Sometimes! The major problem of most entrepreneurs is inability to access fund at when due. It happened to me and i will not take such risk again. I will not venture into a business without having the full fund.

 

[Suba]

When starting your venture, of course you have calculated the minimum capital you need to run a small-scale business, including operational costs for at least the next month, such as merchandise or raw materials, promotional costs, electricity and water. If your funds have reached the minimum capital required then you can start a business on a small scale, but if your funds have not reached the minimum capital required then your business will be lame and may go bankrupt.