So you have this brilliant, beyond brilliant, idea for a mobile app. Now what?

In order to make your brilliant, beyond brilliant idea come to life, you are going to need some financial support. Now it’s about how you are going to find the funds to start your business. Here are 5 ways to fund a startup:

5. Bank Loan/Credit Card

Usually this is not a realistic approach to fund a startup. To get a bank loan or use a credit card, you are going to need to have spectacular credit history or existing assets that you are willing to put at risk. These days, everyone has a great idea for a mobile app that they want to create and flock to the bank for loans. Your best bet will be to do your research and prepare yourself to prove to the bank why they should give you a loan. You will be lucky if you are one of the chosen ones.

4. Online Crowdfunding Campaign

This has been the newest, most popular trend the past couple years. 90% of the world’s online population has access to crowdfunding in over 160 countries. With websites like Tilt and Kickstarter, you have the ability to set up an online crowdfunding campaign. People can volunteer to contribute to your campaign, having the option of donating as much or as little as they want to help you raise funds.

3. Venture Capital Investors

Venture capital investors are professional investors that have a lot of experience in investing in startups. Usually, venture capital investors are attracted to big opportunities with a business model and strong team. Around 1% of startups are funded by venture capitalists. They look to invest millions into big scale startups, so if you’re a small startup looking for a smaller amount of money, your best bet is to go with something else.

2. Friends and Family

Friends and family should be asked before you asking professional investors and banks. Professional investors particularly look at your history with how you have been able to fund your company. They like to see that you have credibility and if friends and family are willing to support you, they will take you more seriously. Most startups use friends and family as their primary source of money when kickstarting their company.

1. Yourself

I suggest starting with this option. Over 80% of startups these days are self funded. With self funding, you have all the control, less risk, and no need to give up any equity. When funding your own company, it is imperative that you are thinking both short-term and long-term. Saving money requires time and effort, and will pay off if you are willing to work for it.

When deciding to pursue your idea, just remember that risks are going to be made. There are many ways to fund a startup. If one doesn’t work, try another. Risks are okay.