No matter how great your idea is, the ability to obtain sufficient funding to grow your business is key. Pursuing funding for a business is both an exciting and challenging process. However, there isn’t a one-size-fits-all approach, and every business has unique funding needs.
As Wolven Industries continues to grow, many have asked how we are raising capital for our business. In this article, we wish to address such questions and hopefully inspire you to develop a successful fundraising strategy.
Wolven Industries: Changing The Face Of Fundraising
While many businesses believe that the primary way to raise capital is by giving up a large amount of equity, Wolven Industries disagrees. From crowdfunding to acquiring loans of varying types and temporary percentages of profit-sharing, there are many ways of raising money besides trading equity.
To be specific, this is how Wolven Industries is raising funds:
While our initial barrier to entry was an estimated amount of $300,000, our CEO Mike Norton, bootstrapped for nearly two years as a marketing strategist. As a result of sheer hard work and dedication, he managed to lower the amount from $300,000 all the way down to $13,000!
With a fundraising goal of $13,000, Mike gathered interested investors and offered them a payback within 12 months at 20% interest, flat, fixed-rate. This does not mean 20% of the company, but 20% interest on the money they put in. This means that Mike keeps 100% of the company, as long as he pays back the investor’s money with the promised interest rate.
For Wolven Industries, this is a safe option because even if everything goes south and we don’t make a single sale that year, the company and investors are backed up with the hard-earned money from Mike’s marketing firm, OMI. Mike has demonstrated over two years his own worthiness to interested investors by paying off 96% of his own market-entry fees with his own bootstrapping from OMI firm.
He has set an entry-level fundraising goal that is very well within his means to pay back.
It’s One’s Own Network of People Who Support You
While a 20% APR is high, it has been consciously designed to show appreciation to investors who believed in us. The main focus isn’t actually raising money, but it’s building relationships for the future.
Many entrepreneur tends to go for hundreds of thousands of dollars without having any kind of established network. However, Mike’s approach is different.
Mike’s priority is to build a relationship of trust with investors that’ll give them the confidence to invest more money into his future ventures. So even if the product in focus doesn’t succeed, investors would have already worked with Mike for years, understood his psychology inside-and-out while knowing what to expect.
Mike truly believes that it’s literally one’s own network of people who support you. And while Wolven industries is private legally, it is totally transparent in ethics.
Thank You for Following Our Journey and Believing in Us!
Last but not least, we would like to thank you for your continuous support.
If any one of you would like to become a part of our private network of investors, don’t hesitate to contact us. We’d love to get to know you and build a genuine relationship with you for the future. Even if you’re not an officially certified angel, you never know what the future may hold.
You can follow Mike on Facebook, and you can learn more about our technology here.