Building software comes at a cost and until recently, access to capital for projects has been historically cheap and easy to attain. Low interest rates and novel technology had made the palatability of taking out capital and the ease with which it was acquired as efficient as it has ever been.
But markets are cyclical and as with all things they change.
Recently, interest rates have risen dramatically and with that the access to capital from banks, VC’s, Angel Investors, etc has become more difficult.
If you can bootstrap your efforts this is likely a good time to go that route, however in many cases that just isn’t feasible. Think about what you have at your disposal and leverage your business plan to determine a rough return on investment. If you’re looking to investors, determine what you’re willing to part with in terms of equity and also the expectations you have on your investors’ involvement.
As mentioned earlier, as you seek capital, a well articulated plan will be critical to reducing the risk on your financial backers and securing the best possible deal for your funding.