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Confused about how to crowd-fund your business and not sure where to start? This talk from Arpita Ganesh, Founder & CEO of Buttercups Bras answers all your queries.
When Arpita Ganesh found that there was a real need for well fitting bras among women in India, she decided to launch a line of bras to address the issue. However, that rationale alone did not seem to be strong enough to raise the funds she needed.
What she did eventually to get funds is the story behind the success of her crowd-funding campaign.
Would you shut down your business if investors say that the idea has no future? Well, Arpita Ganesh, a persistent entrepreneur thought otherwise and went on to prove the value her business adds to society. After all, which woman doesn’t want to wear a well fitted bra!
Arpita’s business started with a line of bras, pre-ordered by customers and hence something that other investors bought in to.
Her story validates that if you have passion and clarity in what you want to offer your customers, nothing will hold you back. This holds good even when you fail to raise funds from angel investors. That is when she started her own crowd-funding campaign and approached people to fund her.
If a few hundred strangers believed in her vision and funded the business without a physical product in place, then it meant that the envisioned product in fact demands for its existence. This was enough to convince angel investors to come forward and fund her idea.
In this video from our last Breaking Barriers event in Bangalore, Arpita shares her journey, on how she failed at raising funds initially and how she went about the crowd-funding. Her experience will surely help fellow entrepreneurs on things like what is involved in crowd-funding about the nitty-gritties involved – the actual process and the kind of costs involved, to name a few.
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