How to get funding? If you’re an ambitious woman entrepreneur, you already know that the road to success isn’t always easy, but it is absolutely achievable. You’re driven, and you’re ready to scale your business, but perhaps there’s just one thing standing in your way: funding.
You want to create a thriving business, support your family, and live a life of purpose—all while maintaining your power, passion, and presence. How do you secure the funding to propel your business to the next level without sacrificing your vision?
Today, we’re diving into five powerful ways to secure funding, whether you’re launching your first business or scaling your empire. These strategies, shared by seasoned real estate developer and business coach Liina Vettik, will help you attract the money you need while staying aligned with your goals and values.
1. Make Sales—Turn Your Passion into Profit
The fastest way to get money flowing into your business is through sales. It sounds simple, but it’s incredibly effective. Go out and make offers to your prospects—help them see the value in your product or service, and empower them to buy from you.
If you’ve been in business for a while, revisit any unpaid invoices or loans from customers or clients. Send out polite but firm reminders to collect what’s owed. Often, the resources you need are already within your business, and all it takes is some strategic follow-up to unlock them.
This strategy can feel like an instant win because it helps you generate income while continuing to build momentum in your business.
2. Tap into Your Network—Friends, Family, and Fools
You’ve likely heard of the “triple Fs” before: Friends, Family, and Fools. It’s a classic funding strategy, especially in the early stages of business. Lean on the people who believe in you—whether that’s your family, close friends, or those who trust your vision enough to invest, even when the risk is high.
Don’t be afraid to ask for support from those who know you best. They see your potential and want to help you succeed. Use your own savings too if needed, but know when to look beyond your immediate circle for financial help.
The truth is, your closest network can be a great source of capital—just be sure to manage expectations and communicate clearly to avoid any strain on personal relationships.
3. Secure a Loan—A Simple, Straightforward Option
Loans often get a bad rap, but they can be a powerful tool for growing your business. Contrary to what some may believe, you don’t have to wait until your business is generating massive revenue to qualify for a loan. Many banks and financial institutions offer loans to entrepreneurs at all stages of business development.
If you’re not ready to take a business loan directly, you could consider taking a personal loan and using it to fund your business. It’s important to weigh the pros and cons of this approach, but it’s an option that can provide the cash flow you need to push through a tough time or invest in growth opportunities.
Companies like Stripe, PayPal, and other fintech solutions are also offering flexible loan options for startups and growing businesses. Don’t count yourself out—explore your options and see what’s available.
4. Leverage Local Government Grants—Funding You Don’t Have to Pay Back
Did you know that your local government or district might offer grants or subsidies to support entrepreneurs like you? Many governments are committed to boosting small businesses and innovation, so take advantage of these resources.
Do your research. Reach out to local business development agencies, women’s entrepreneurship groups, and government programs. There could be money available to you that doesn’t need to be repaid—yes, free money! All it takes is some digging and applying, but the rewards can be significant.
5. Attract Smart Money—Find Investors Who Believe in Your Vision
If you’re ready to scale big, finding the right investor could be your ticket to success. But here’s the thing: investors aren’t just about the money. They’re human beings with values, beliefs, and interests. They want a return on their investment, yes, but they also want to invest in something that resonates with them personally.
Think of it as a sales process—you’re not just selling your business to them; you’re selling them on the value they’ll get from being involved. Investors want to contribute more than just cash. They bring expertise, connections, and mentorship, helping you grow your business in ways that go beyond money.
When seeking investors, do your homework. Understand what they value and why they might be a good fit for your business. Position yourself as a powerful partner in their investment portfolio, and show them why your business is a winning choice for both impact and profitability.
The Final Word: Funding Is Part of the Journey
Remember, securing funding is part of your entrepreneurial journey—not a sign that you’re struggling. Whether you’re leveraging your own sales, tapping into your network, taking out a loan, applying for grants, or attracting investors, each step brings you closer to your goals.
Don’t be afraid to ask for what you need. In the end, it’s not just about the money—it’s about bringing your dreams to life. Stay empowered, stay ambitious, and know that you truly can have it all.