How To Fund Your Startup | Dan Martell

Wondering where will the money come to fund your next venture? In this video, I want to share with you 8 different ways to overcome this challenge and fund your startup.

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When I started my SaaS (that stands for Software-as-a-Service) startup Flowtown my co-founder Ethan and I had a tough decision to make…

How do we fund the company?

Even though I had the capital to self fund the whole thing, as I had just sold my previous company Spheric, he was 23 and didn’t have a penny to his name.

So this is what I did…

It was Friday, and I said, if you can find a way to raise $15K, I would fund the rest.

On Monday he called and said he had the money!???

That’s when I learned how great of a person he was.

You can listen to how he did it in this week’s video, alongside the 8 other strategies you can use to raise money for your startup.

I go deep into all 8 strategies in the video…

But if you’re looking for a quick primer, here are my 2 favorites:

1) Crowdfunding: I like this one because it also has the side effect to help you validate the idea as well. If no one buys, then it might be an indication that the idea is bad, or that you packaged it wrong. I’d rather find out quickly before I invest a ton of time and money to fix things.

2) Venture capital: Even though most people think VC’s are horrible, I’ve learnt that there’s something powerful to having incredible investors. It’s a quick way to establish authority in a space, it provides a sense of confidence (if you get the right investors) that you know they’re in your corner, and you get the positive peer pressure to report your numbers to an external group of people.

You might of expected some kind of secret government program, or easy way to get banks to lend you money, but I’m a big fan of testing and validation…

And nothing works better to prove you have an idea worth pursuing than having others take their hard earned money and invest in your business.

My good friend Clay Hebert, a crowdfunding expert, once said “… the cost of failure will eventually go to $0 because of crowdfunding.” and I’m a big supporter of this.

So if you have big dreams, there’s a good chance you’ll need some money to fund them.

Be sure to study all 8 of these strategies and use them accordingly.

If you have any questions for me on how you should use them, be sure to leave a comment with your questions – that’s best way for me to help!

Dan “helping you raise money” Martell

Don’t forget to share this entrepreneurial advice with your friends, so they can learn too: https://youtu.be/8-9176AxXVo

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ABOUT DAN MARTELL
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“You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one… not two… but three tech businesses: Clarity.fm, Spheric and Flowtown.

You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force.

An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives – but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away.

Get free training videos, invites to private events, and cutting edge business strategies:
http://www.danmartell.com/newsletter

18 Comments on “How To Fund Your Startup | Dan Martell”

  1. I got help from lutherangrants .They sent me a grant of $56,000 to finance my startup .

  2. I’m working on a nonprofit business plan for after school youth guidance program…, I picked up a few tips from you although I honestly don’t want to depend on a bank loan nor my credit cards but I do like the idea of crowd funding and of course I’m investing my money into myself as I continue to work😃

  3. im having such severe issues with getting absolutely any attention from VCs or Angels whatsoever.

    kinda tooting my own horn here, but I invented the entire concept of Youtube before its name was ever coined, same with UberEats, bought into Bitcoin at $200, Ethereum @ ICO, and had a vision similar to Binance before the market even got WIND of how hot crypto was gonna be. everyone either ignored, or scoffed at me.

    and now i have a way to completely make-obsolete (for a good purpose) apps like Uber and Didi, and also completely disrupt a large part of the $1'T advertising industry.

    but none of my cold emails, or linkedin reachouts, are working, and I've tried for a YEAR.

    i even pulled my website down because im so heartbroken right now, but i've rested enough to give it another go, and am currently revamping it.

    i need help and advice, man. I've never really been a people person, but thats such a sad excuse to make this also fail to launch. 🙁

    (i'm also looking for big thinkers, with big hearts (i.e. hardworking and self-supervising) for C-Level, as the previous ones I had were creeps and were just parking their stupid asses here (and doing absolutely nothing for an entire year), hoping to get a free paycheck/ equity for nothing. i fired them, of course.)

  4. HOPEFULLY, MY BUSINESS IDEAS WOULD WORKOUT BIG, AND ONE DAY, WHEN I'LL BE TALKING ABOUT THE PEOPLE WHO SET ME ON THE PATH, I'LL TALK ABOUT YOU. YOU'RE ON A NOBLE COURSE, KEEP IT UP!

  5. As soon as I patent my product, I may not be needed to ask for start up funding, I may need your advice. Thanks for your videos.

  6. Hi DM, I have watched 5 of your videos already and I absolutely love them. You talk about what you've done yourself and that makes you unique. Thanks

    Actually I am from Cameroon, central Africa. It is really difficult to find funding but worse still, it is expensive to get the softwares expertize (platforms like UPWORK charge heavily as from 25$/hr provided you have the payment methods). How can a startup (mine is "Proxicare" smart ambulatory healthcare) find funding or affordable tech support?

    Regards

  7. Thanks for all the advice. Young entrepreneurs such as myself could not be more grateful. I do have a question, what would you suggest as the best platform (shopify, wordpress, etc.) to setup a multivendor website such as clarity or more specifically etsy? Thanks once again 🙂

  8. Need money for your startup? There are 8 ways to fund your dreams. I cover each, how I’ve used them and the best one for you. You can watch here.

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