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How To Raise Capital For Your Startup

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How To Raise Capital For Your Startup,Startup Stories,How to Raise Startup Capital,Tips on Raising Capital for Your Startup,Small Business Funding,Types of Startup Funding,Startup Capital,How to Raise Funds for Business,Startup Capital Funding

Most of us often think a revolutionary idea is all you need to set up a business.  Yes, a great idea is definitely the heart of your business, but funds are its backbone.  Most startups fail within months after their inception due to lack of proper funds. Raising capital to build your business is a huge challenge, especially if you are a first timer.  We are here to help you with just that. Keep reading to find out some ways in which you can fund your business.

 

How to raise capital for your startup

 

1) Self funding

This is the most obvious way to fund your business.  If you are a first time entrepreneur, you may have a tough time trying to find potential investors.  Therefore, you can consider funding your business from your own savings or ask your friends and family to contribute.  This process of funding your own business is called bootstrapping. Bootstrapping should always be considered as the first option for funding your business.  However, this is suitable only if the initial requirement is small.

 

2) Crowdfunding

Crowdfunding is a millennial way to fund your startup.  How does crowdfunding work? An aspiring entrepreneur puts up a complete description of his/her business, like the business plan, the vision, what he aims to achieve and how much funding he needs, on a crowdfunding platform.  Users of this platform will read about the business and pledge an amount of their choice, if they like the idea. Here, anyone can contribute to your business. Apart from providing financial help, a crowdfunding platform can also help in marketing your products or services.  Kickstarter, Patreon, GoFundMe, RocketHub and CircleUp are some of the most popular crowdfunding platforms in the world.  In India, Faircent, Ketto and Wishberry are some of the most famous ones. 

 

3) Venture capitalists

Venture capitalists (VCs) are professionals who invest in startups and companies which have huge potential.  VCs usually invest in a business against equity, which is the difference between the value of assets and the value of liabilities.  They exit the business when there is an acquisition or an IPO (Initial Public Offering.) Venture capitalists are not easy to impress, especially if you are new to entrepreneurship.  They even come with their fair share of disadvantages. Though a VC invests in your business, they often expect a recovery within 3 to 5 years. This is suitable for businesses which have crossed the startup stage and are already bringing in revenue.  Some popular venture capitalists in India are Blume Ventures and Nexus Venture Partners.  Index Ventures and Accel Ventures are venture capitalists which made their mark across the globe. 

 

4) Angel investors

Angel investors are people who have a huge amount of cash and a keen interest to invest in a potential business.  Sometimes, a group of investors come together to scrutinize and invest in a potential business. Apart from finance, angel investors can also provide advice as mentors.  They are even willing to take higher risks for better returns. Angel investors are the people responsible for the establishment of several big names in the world, including Google and Alibaba.  One drawback of angel investors is, they give far less capital compared to venture capitalists.

 

5) Participate in competitions

In recent times, several competitions are being held, where the winner gets capital for his/her business.  All you have to do is present your business idea or module to a jury and if you win, you get the required capital to start your business.  This, however, is not easy as the competition is going to be very high and your idea has to really stand out from the rest to be able to attract investors. 

 

6) Get help from business incubators and accelerators

Business incubators and accelerators have become immensely popular recently and they are found in almost every major city across the globe.  Business incubators produce several successful entrepreneurs every year. They usually have a program for 4-12 months, during which, they nurture, train, evaluate and fund your business idea.  Accelerators, on the other hand, help an already established business grow or take a huge leap. StartupVillage, T-Hub, TechnoPark TBI and GSF Accelerator are some examples of business incubators and accelerators. 

 

7) Bank loans 

A bank is probably the most convenient place to get funds for your business.  Almost every bank in India provides business loans against some sort of security.  Bank loans for businesses are of two types—working capital loans and funding. Working capital loans are designed to traverse one full cycle of revenue generation.  Funding, on the other hand, is the process of sharing your business plan and your business valuation to get the required funds. 

An added advantage with bank loans is, you will not have the pressure of an investor depending on your business.

 

8) Government schemes

Governments these days are keen on encouraging entrepreneurs.  There are several plans and schemes which are made available by the Government to fund your business.  In India, the Pradhan Mantri Mudra Yojana and the Startup India Scheme are some initiatives. The Startup India Scheme, which was started in 2016, is known to have created thousands of entrepreneurs in India. 

 

These are some of the several ways in which you can fund your business.  Before approaching any investor, it is suggested you do full fledged research about each of these options and also get an idea about various market scenarios.  After that, choose a plan which is suitable for you and your business type. If you have a professional network, which we recommend you do, discuss the various options with them and then take a decision. 

Do you know of any other ways to fund a startup?  Comment below and let us know.

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How To

WhatsApp’s Secret Code for Locked Chats: How to Use It for Extra Privacy!

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WhatsApp's Secret Code for Locked Chats: How to Use It for Extra Privacy

WhatsApp has introduced an innovative security feature known as Chat Lock, which enhances user privacy by allowing individuals to secure their personal chats from unwanted access. A key component of this update is the Secret Code option, enabling users to access locked chats through a unique code, thereby making private conversations even more discreet.

What is the Secret Code for Locked Chats?

The Secret Code feature allows users to set a custom code for their locked chats, effectively hiding them and making them accessible only through a specific search command. Instead of simply navigating to the Locked Chats folder within the app, users can assign a custom name or code that conceals these chats entirely from the main chat screen.

Once the Secret Code is established, users can easily search for it within the app to access their hidden chats. If someone attempts to enter an incorrect code, the locked chats will remain invisible, adding an extra layer of security.

Steps to Set Up a Secret Code for Locked Chats on WhatsApp

If you want to enhance the security of your chats with a Secret Code, follow this step-by-step guide:

  • Lock Your Chats:
      • Select the chat you wish to lock.
      • Tap the three dots in the top-right corner and choose Lock Chat.
  • Access the Locked Chats Folder:
      • After locking some chats, open WhatsApp and navigate to the Locked Chats folder.
  • Set the Secret Code:
      • Tap the three dots in the top-right corner of the Locked Chats screen and select Chat Lock Settings.
      • Choose the Secret Code option.
      • Enter a memorable code of your choice (this can include words or emojis).
      • Tap Next, re-enter your code to confirm, and then tap Done to save your code.
  • Hide Locked Chats:
    • To make locked chats less visible, go back to the Chat Lock Settings page and toggle on Hide Locked Chats.

Important Considerations

  • Code Access: After setting up your Secret Code, you will need to enter it each time you want to access your hidden chats.
  • Privacy Caution: If someone knows your Secret Code, they can unlock your chats.
  • Code Retrieval: If you forget your Secret Code, there is no recovery option unless you have a backup of your chats.

Benefits of Using the Secret Code Feature

The introduction of the Secret Code significantly enhances privacy for WhatsApp users. It allows individuals to keep sensitive conversations hidden from prying eyes, making it particularly useful for those who share their devices or are concerned about unauthorized access. This feature is ideal for various scenarios, such as discussing personal matters or planning surprises without fear of being discovered.

Conclusion

With its new Secret Code feature for locked chats, WhatsApp has taken a significant step toward enhancing user privacy and security. By allowing users to hide their sensitive conversations behind a customizable code, WhatsApp provides an effective solution for those looking to keep their communications confidential. As digital privacy becomes increasingly important, features like these empower users to take control over their personal information and interactions within the app.

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How to Make ChatGPT Your Default Search Engine and Say Goodbye to Google!

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How to Make ChatGPT Your Default Search Engine and Say Goodbye to Google!

If you’re ready to break free from Google’s two-decade reign in the search engine market, there’s an exciting new alternative: ChatGPT. OpenAI has introduced a web search feature in ChatGPT, positioning it as a robust competitor alongside established players like Bing and Microsoft’s AI-enhanced search tools. Here’s how you can set ChatGPT as your default search engine and explore its capabilities.

Setting ChatGPT as Your Default Search Engine

You can easily set ChatGPT as the default search engine on any Chromium-based browser that supports Chrome Web Store extensions. This includes popular browsers like Google Chrome, Microsoft Edge, Brave, and Opera. To enable ChatGPT Search as your primary search engine, follow these steps:

  • Install the ChatGPT Search Extension:
      • Go to the Chrome Web Store in your browser and search for the ChatGPT Search extension. Alternatively, you can use a direct link to the extension.
      • Click on “Add to Chrome” or “Add to [Your Browser]” to install the extension.
      • Ensure the extension is activated by checking under the “Extensions” tab in your browser settings.
  • Pin the Extension:
    • To prevent the extension from being automatically disabled by your browser, consider adding it to your favorites tray for easy access.

Limitations and Availability

Currently, the ChatGPT Search feature is available only for OpenAI’s Plus and Team subscribers, with plans to extend access to Enterprise and Education accounts soon. Free users will gain access eventually, although OpenAI has not specified a date. Users who joined the waitlist for the prototype, SearchGPT, should have access to ChatGPT’s search capabilities without needing a subscription.

This new AI-powered search feature enhances natural language understanding, allowing users to interact with ChatGPT as their default search engine and experience a fresh, conversational approach to web browsing.

Benefits of Using ChatGPT as Your Search Engine

By setting ChatGPT as your default search engine, you can enjoy several advantages:

  • Conversational Queries: You can ask questions in a more natural way, and ChatGPT can respond with information sourced from the web.
  • Contextual Understanding: The AI takes into account the full context of your queries, providing more relevant answers based on previous interactions.
  • Up-to-Date Information: ChatGPT integrates real-time data from various sources, including news articles and statistics, enhancing the relevance of its responses.
  • No Ads: Unlike traditional search engines that often display ads alongside results, ChatGPT offers an ad-free experience.

Expanded Device Compatibility and Access

The upgraded ChatGPT Search will also be accessible on other devices through compatible browsers. Users can expect consistent functionality across their devices by logging into their OpenAI accounts.

Conclusion

Making ChatGPT your default search engine is a straightforward process that opens up a new world of possibilities for how you interact with information online. With its conversational capabilities and advanced AI features, ChatGPT promises to deliver a more engaging and efficient search experience than traditional engines like Google. As you explore this innovative tool, you’ll not only enhance your browsing experience but also contribute to the growing shift towards AI-driven solutions in everyday tasks.

If you’re ready for a change, follow the steps above and say goodbye to Google—ChatGPT is here to redefine how you search!

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How to Create a Two-Sided Dynamic Profile Picture on Instagram: Show Off Your Photo and Animated Avatar!

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Looking to add more personality to your Instagram profile picture? Now, you can create a dynamic profile that seamlessly displays both your static profile photo and a custom animated avatar—perfect for sharing a bit more of your personality.

Instagram’s dynamic profile picture feature, launched in January 2023, combines your standard profile photo with a customizable animated avatar. This allows followers to flip between your static image and your animated self-portrait with a simple swipe. If you’re not familiar with avatars on Instagram, they were first introduced in early 2022 for Stories and messages and are now available for profile pictures.

Customizing Your Avatar

Instagram’s animated avatars are customizable, similar to Apple’s Memoji and Samsung’s AR Emoji, with no fixed gender settings. You can personalize various features to match your style. Avatars are public by default, but privacy settings allow you to control who can see them.

Step-by-Step Guide to Setting Up Your Dynamic Profile Picture

Step 1: Start Creating Your Avatar

  1. Ensure you have the latest version of Instagram on your Android or iOS device.
  2. Go to your profile page and tap “Edit Profile.”
  3. If you haven’t created an avatar before, you may see a prompt inviting you to “Create Your Avatar.” Select it, or tap “Edit picture or avatar” to get started.

Step 2: Customize Your Avatar

  1. Begin by selecting a skin tone, then dive into customizations such as hairstyle, face shape, and outfit.
  2. The options are extensive, allowing adjustments from facial features to makeup, accessories, and body type.
  3. Use a two-finger pinch to zoom in or rotate the avatar with a swipe for better detail viewing.
  4. For more personalization options, select “More Personalization” for finer adjustments like brows, lashes, and facial hair.
  5. Instagram includes a virtual store for additional personal touches; once satisfied, tap “Save” to finish your avatar.

Note: If your Instagram is synced with Facebook, it will offer the option to “Sync” avatars across both platforms.

Step 3: Add the Avatar to Your Profile Picture

  1. Head back to the “Edit Profile” page.
  2. Instagram may prompt you to “Enhance your profile picture with your avatar.” If not, select your avatar and enable the “Add to profile picture” option.
  3. This action combines your profile photo and avatar into a double-sided profile picture that followers can swipe to see both versions.

Step 4: Personalize Background and Pose (Optional)

  1. To add final touches, adjust the avatar’s background color and choose from various poses for a more personal look.
  2. Swipe to show the avatar on the “Edit Profile” screen, tap to adjust, and select your preferred background and pose options.

If you ever want to remove the avatar, use the ellipsis (•••) menu in the profile editor to hide it.

Conclusion

Creating a dynamic profile picture on Instagram allows you to showcase both your static image and animated avatar, adding depth and personality to your online presence. This feature not only enhances user engagement but also provides an innovative way for individuals to express themselves creatively.

As this feature becomes more widely adopted, it will be interesting to see how users leverage it for personal branding and community interaction on the platform. By following these steps, you can easily set up your own dynamic profile picture and make your Instagram account stand out!

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