One of the first challenges for any entrepreneur is securing initial funding. This can be achieved through several means:
1. Personal Savings: Many entrepreneurs start by investing their own savings into their ventures. 2. Family and Friends: Another common source of initial funding is borrowing from family and friends. 3. Angel Investors: These are affluent individuals who provide capital for startups in exchange for ownership equity or convertible debt. 4. Crowdfunding: Platforms like Kickstarter and Indiegogo allow entrepreneurs to raise small amounts of money from a large number of people.