Things You'll Need:
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Step 1
Determine how much you need to get the idea to market. Create a budget and think of everything that you will need to spend money on. Such things as manufacturing, legal costs and marketing should be included in your budget. Estimate on the high side and plan on contingencies.
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Step 2
Make a business plan outlining how you plan to sell your idea to consumers. You will need to present this plan to banks or other investors to get financing.
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Step 3
Practice your speech. Know your business plan well and be prepared to present it at any time. Anticipate questions you may be asked from potential investors
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Step 4
Start with family and friends for funding. Your family and friends know you well and want to support you. Share your enthusiasm for your business idea with them. If they do want to invest make a formal business agreement.
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Step 5
Try traditional banks for financing. For new businesses that may be difficult but try smaller banks that cater to local small businesses. Also consider using your home equity to finance your business idea.
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Step 6
Seek partners for funding. A partner with cash may be what you need to get your idea going. However, be careful who you choose as a partner. Make sure that you can work together. See if your partner has other skills besides money that they can contribute to the business.
