If you are seeking a loan to start a new movement or business, then you have come to the right place. Below are some tips that you can use to attract financial aid from outside investors, friends and family and even banks.
1. Put together a documented plan. Identify the challenges you will face, along with the goals you have set for your movement / business. You will also want to include other competitors that are in the space and how much money you will need to really scale the operation.
2. Get your hands dirty. Investors want to see that you are passionate about your movement / business and nothing shows this more, then by knocking on doors and trying different things (even if they fail). Let's take the example of the
People for Rain movement that was started last year. The goal with this movement is to get people to share their favorite rainy day experiences and they set out to accomplish this by focusing on public relations efforts, attending weather conventions and by blogging regularly. Over time, they hope to see their devoted rain user base increase significantly.
3. This brings us to our third point of showing traction. The more traction you show, the more likely people will be to loan your business / movement money. Investors want to see that there is a need for your business / movement and that people will actually buy from your or get involved.
4. Build a scalable business / movement. If you are building something that can grow exponentially, then this will have people wanting to knock down your door to give you money.
5. Be upfront and transparent about what you would plan to use the loan for. In the case of "People for Rain", they wanted a loan to hire more writers to help spread the word about their rain movement. The more honest you are with people, the more likely you are to set yourself up for success.
