When I started out to execute my business idea, it was with so much zeal and passion. I wanted to cause change in the society, develop the economy and influence the market in an innovative way. I still hold this mission dearly. I and my Co-founder started looking for funds to push the business idea forward. I made calls to family members to tell them of my new focus. They wished me well and promised their support when capable. I was filled with the confidence that telling people about what I was doing brought me.
Time would go on and although the drive was high as ever, the funds were not forthcoming. The economy was bad and is still bad (You can check out the naira-dollar exchange rate to buttress). Responsibilities were piling up and family was straining financially, so support from family was understandably not forthcoming. I contacted more potential investors, at some point I traveled to Abuja (capital city) and met with everyone I could meet there concerning the business. Some gave their advise, but money was still a hard resource to come by.
It’s frustrating when you harbor so much passion and enthusiasm about an idea without the necessary resources to see it through. Capital is every entrepreneur’s challenge. Even after initiation of a business idea, you still need capital to keep it afloat. Sourcing for that much needed capital can be very frustrating. Even passion needs to be continuously fed with something, and lack of capital can stunt the growth of your idea.
Are you facing the challenge of raising capital for your business idea? Comment below your feelings.