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Marketing School - Digital Marketing and Online Marketing Tips

Alternative Ways to Fund Your Business | Ep. #1195

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 8 November 2019

⏱️ 8 minutes

🧾️ Download transcript

Summary

In episode #1195, we share several alternative (yet effective!) ways of funding your business. We give you all the details on crowdfunding, revenue-based financing, and the more traditional routes involving bank loans. Tune in to hear what you need to do to attract investors!  TIME-STAMPED SHOW NOTES: [00:25] Today’s topic: Alternative Ways to Fund Your Business.  [00:37] Why people should consider funding and the problem with bootstrapping. [01:02] The need for funding even if you are Elon Musk or Jeff Bezos. [01:47] Thoughts on crowdfunding and the various platforms you can use.  [02:22] A list of the main crowdfunding platforms and how much you can raise per year.  [03:03] The importance of having traction before attempting to raise money.  [03:27] How you can raise money through revenue-based financing.  [04:15] The models that companies like Lighter Capital use.  [05:05] Getting a traditional bank or SBA loan in the US and their interest rates.  [05:22] What the credit card company Brex is offering in terms of credit.   [06:01] The importance of having a formula that is already working.  [06:24] That’s it for today! [07:02] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information. Links Mentioned in Today’s Episode: Jeff Bezos on Twitter Elon Musk on Twitter PayPal Tesla Kickstarter Indiegogo  CrowdEngine  StartEngine Republic  Wefunder MicroVentures Lighter Capital  SaaStr Clearbanc Brex  Activision  Disney  Leave Some Feedback:   What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review.   Connect with Us:  Neilpatel.com Quick Sprout  Growth Everywhere Single Grain Twitter @neilpatel  Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach.

0:11.5

Let's start leveling up your marketing knowledge with

0:14.0

your instructors Neil Patel and Eric Sue.

0:19.2

All right guys before we start we got a special message from our sponsor.

0:24.0

If you want to rank higher on Google,

0:25.9

you got to look at your paid speed time.

0:28.5

The faster your website loads, the better off you are.

0:31.3

With Google's core vital update,

0:33.0

that makes it super, super important

0:34.8

to optimize your site for low time.

0:37.6

And one easy way to do it is use the host

0:40.0

that Eric and I use, Dreamhost.

0:42.0

So just go to Dream Host or Google it.

0:44.8

Find it, check it out, and it's a great way

0:47.0

to improve your low time.

0:50.5

Welcome to another episode of Marketing School. I'm Eric Sue and I'm Neil Patel.

0:56.0

And today we're going to talk about alternative ways to fund your business. But first, Neil, aside

1:00.9

from people bootstrapping, why should people even consider funding their

1:04.8

business in the first place? Well funding just helps you grow faster right

1:09.7

there's nothing wrong with bootstrapping I prefer bootstra myself. I know you've done a lot of bootstrapping but here's the thing with bootstrapping sometimes some businesses just need money and you can't bootstrapping you want to compete with you know Facebook or Facebook or something really big or do something crazy like build rockets?

1:27.5

You're going to need funding unless you're like a Jeff Bases and you're already a billionaire.

1:31.1

Yep, totally and even if you are a billionaire billionaire. Yep, totally.

...

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