Creative Ways of Raising Capital
- October 26, 2018
- Will Turner
If you perhaps had an entire year mapped out ahead of you as a vastly experienced software engineer, it would indeed be possible to build a decent online casino from scratch, but then the level of skill you’d require in that realm would have needed you to invest pretty much all your time in perfecting that specific skill. You’d have no time to learn how to cater to the other elements which come together to make up the operation of a successful online casino platform, such as negotiating terms with the regulators, taking care of the accounting, arranging the funding, etc.
Speaking of funding, this is where most people in the tech business lack quite considerably and this is why most great ideas don’t quite end up going to market. Some of them do make it to the end-user market, but they suffer a spectacular failure. While this would then naturally not be an indication of the skill level you have or don’t have as the software engineer you are, it would clearly indicate that you’re lacking in pretty much all other departments, including mastering the art of raising capital.
The software engineer example was exactly that – just an example, so too the online casino as a project they’d want to get off the ground. Both of these are just representative of the typical scenario in which an individual or even a team of entrepreneurs want to get a venture off the ground and, while they have the technical skills required to build their product or service, they don’t quite have the capital required to get it to market. They also perhaps lack the knowledge about which routes to take in order to raise the capital, which is something that in this day and age calls for a more creative approach.
You would be at the mercy of the banks if that’s where you wanted to go to raise the capital to get the venture launched, probably because the banks have so many options to work with.
A good way to raise capital is to join an accelerator program. Entrepreneurs can benefit from these programs by getting mentorship, access to networks, and capital to help them launch their businesses. Accelerator programs (such as Google Startup Accelerator) can also provide the opportunity to pitch to investors, which can be a very effective way to secure additional funding.
In some cases, you’d need to be a little more creative in the manner through which you try to raise capital.
Another most creative of these ways actually encompasses many creative little sub-actions along the way, such as how you might identify an existing online casino platform as something to use in raising your capital.
Considering a site like novibet.co.uk, if you have the right betting strategy you can develop as you patronise the platform then you will eventually walk away a big winner, but en route to that one big winning spin you can use your time on the platform to generate avenues through which your start-up capital can trickle in nicely. I would record my screen with a screen recorder for example and then upload that as a sales video on YouTube for an e-book or training course on the betting strategy used to build up to the winnings. Additionally, I would probably share some of the best resources and websites (learn more here about a betting sportsbook) for gambling and other methods for earning money.
With that specific example as well, the mere uploading of this video would in itself make for another channel through which to generate some of the capital required, as YouTube shares the ad revenue generated through the ads displayed on those videos of yours people view.