“Eureka!” exclaimed a guy on a bus, facing his friend. “I just got a brilliant startup business idea,” he shared with his companion. After the exclamation and detailed explanation, a graveyard silence and mournful look took over their faces; the beautiful idea just gave up the ghost. This was a discussion between two friends in transit about an idea that could have significantly improved their livelihood, but it died on the bus. Why, you ask? The short-lived idea met its demise due to a lack of startup capital. A startup without adequate capital is akin to having no idea at all. Just as the saying goes, “Money answers all things,” the same holds for your startup idea. The alarming rate at which startup businesses perish prematurely, especially within their first year, calls for an investigation. Discovering the antidote for this cancer that has been responsible for these sudden deaths is highly imperative. Your idea may be an e-commerce business, a SaaS business, or a tech innovation. Are you eager to learn the best ways to secure the necessary funds to fuel your startup business? Join us as we unveil strategies to tap into funds you never knew you had. 8 Ways to Generate Revenue for Your Startup Business We understand that you’re on the edge of your seat, eyes glued to your computers, eagerly awaiting information on how and where to get the money to fund your startup business ideas. Not to worry, let’s get started! #1. Develop a Convincing Business Plan Failure to plan is a giant stride towards failing. Your startup business plan is your documented vision, serving as the manual that guides your mission to avoid being a grounded entrepreneur. A well-structured startup business plan is the key to all the other strategies we’ll discuss later. The major industries you see today are the products of well-structured business plans. Writing a startup business plan may require hiring an expert, or you can take your time to put one together yourself. A well-structured and detailed startup business plan can win anybody’s heart and get you the funding you need to bring your startup business to life. Also, note that banks rarely provide loans to startups without achievable plans. It emphasizes the importance of having a structured, detailed, and achievable startup business plan to conquer the startup funding challenge. #2. Save Up! The greatest mishap you can encounter when starting your business can be self-inflicted. Remember, you’re the first beneficiary of your preparedness, in case you didn’t save. One key thing you must do is save up. You are the only one who understands the value of your dreams; let this spur you to save. Saving up showcases your determination and can influence people around you to help. Funding your startup business provides a positive drive, instilling a sense of belonging and a refusal to quit in the face of trials. Successful business owners often sacrifice sleep to safeguard their hard-earned investments. The influence of self-savings could be the fund your startup business needs to break its limits, so save up to preserve that dream business of yours. Ensure that you save more money as you earn. One of the major ways to earn more money is to try some online earning platforms. Another major way is online stock investment, so as you begin to get your returns, you can invest them in your startup. #3. Crowdfunding Wondering how some startups secure a ridiculously high amount of money before or just after starting? Most of them raise funds from people who believe in their dreams through crowdfunding. Essentially, crowdfunding involves pitching to people with money to spare. Many individuals donate small amounts, creating a pool from which you can draw. In most cases, there’s no need to report back to them. To secure crowdfunding, ensure you have a workable startup business plan. Another secret is to align your startup business with one of the Sustainable Development Goals, making your crowdfunding pitch more appealing. The only challenge you might face is competing proposals with similar ideas, emphasizing the need for a well-structured and convincing proposal. #4. Business Incubators and Accelerators Accessing funds for your startup has never been easier than through business accelerators and incubators. Business accelerators help fast-track your business, while incubators nurture it. You gain access to free mentoring from investors, and networking becomes more accessible. The only challenge here may be your dedication. If you can commit unwaveringly to your startup business, you can be confident that it will thrive. #5. Presale Advertisements This fundraising model is familiar, as some big brands like Apple and Samsung have adopted it. They advertise their new product, and people make orders before the official launch. This method helps establish trust with prospective clients, allowing you to display what you intend to offer. If you are convincing enough, be ready to secure the funds needed for your startup business. #6. Contests and Competitions Every day, numerous business pitch competitions arise. All you need to do is present and discuss your startup business plan. Meeting the judges’ demands can lead to winning funds. Competitions such as the Tony Elumelu Foundation Competition and various 2024 tech hackathons require your startup business to address a societal need, indicating a market for your product. A well-structured business plan can secure funds through this avenue. #7. Angel Investors From the name and the mode of operation, you cannot help but believe in the existence of angels. Angel investors fund your start-up business in exchange for equity or convertible debts. The convertible debts are to be paid back with a percentage increase after an agreed number of years. It will surprise you that many companies, like Yahoo and Google, started with the investments of angels. A particular attribute that convinces angel investors is signs and pointers to growth in your business. It implies that your business plan has to have detailed expansion and exit plans. #8. Government #8. Don’t Ever Start Your Business With Loans!!! You might
How To Pay For Udemy Courses In Nigeria
E-learning has greatly improved the education system globally. It is flexible, accessible, less expensive, and convenient for all students, tech enthusiasts, and business owners, for those seeking how to make money as a freelancer and individuals generally. There are so many e-learning platforms like Udemy, Coursera, LinkedIn Learning, Skillshare, Edx, Khan Academy, and so many others. Udemy has proven to be one of the largest e-learning and teaching platforms that offers over 213,000 courses, by over 60,000 instructors to over 62 million students. You can find various kinds of courses from different niches. Ranging from technology, business, finance & accounting, marketing, entrepreneurship, arts, music, design, health & fitness, to personal development. You can find almost every niche on Udemy, to help sharpen your skills and boost your career. As a new learner on Udemy, there are some key things you may need to do to make your learning experience easy and smooth. We are going to break them down: Create a Udemy Account Once you get to the website, create an account with your e-mail to enable you to have access to all the courses. Select a Course Search for various course options that align with your interests and career goals, then choose a course by going through These will give you an insight into the best course to go for that aligns with your interests and goals. Check for Discounts and Coupons Udemy often runs promotions that can help you save on course fees, the following tips and strategies can help make your learning easier and also affordable. You may need to make a one-time payment to the Admin to have access to numerous in-demand courses without limitations. Udemy Free Courses Free courses Paid Courses Offers online video content Offers online video content No room for asking questions. You can ask questions and get a response. You can’t send a direct message to the instructor. You can send a direct message to the instructor. No certificate of completion at the end of the Course. You’ll get a Certificate of completion at the end of the course To get the best out of Udemy courses and your learning journey, you will have to enroll in paid courses. General Payment Methods on Udemy Udemy supports a variety of payment methods which depend on your device, location, and what country you registered your Udemy account. Methods of Payments On Udemy Using Virtual Cards If you have been experiencing challenges on how to pay for Udemy courses in Nigeria. Now, here is the thing, there have been Udemy payment issues in Nigeria as a result of the restrictions placed by the Central Bank of Nigeria on naira cards, which has made international transactions very difficult. This situation has left many Nigerian learners to search for alternative methods and solutions on how to pay for Udemy courses online. Use the following step-by-step guides on how to pay for Udemy courses in Nigeria with various virtual cards What are Virtual Cards? A virtual Card is a digital form of payment card for making payments against purchases made through mobile apps or online without the need to carry physical cards or cash. Virtual cards work exactly like your physical bank cards. The difference is that they live in your digital wallet on your phone, instead of your physical wallet. The following Virtual cards can be used to make Udemy Payments online from Nigeria: Pay4me Please note that to get the best out of it, your course purchase has to exceed the amount the course costs. Evertry Payday Payday is a Fintech startup that provides a means for Africans within and outside the continent to send and receive money. Cardify Bitnob Bitnob is a financial technology money transfer app that helps users send and receive money within African countries and internationally. Conclusion Please also note that there could be so many other reasons why you are unable to make payments for your Udemy courses which may not be as a result of Naira restrictions. You can follow these methods to troubleshoot your payment failures: With the use of virtual dollar cards, you can make payments online without difficulty and be able to access all the valuable resources you need to achieve your learning goals on Udemy.
