How To Fund Your Passion Project

These days, it’s rare to find people who are fulfilled financially from one job alone. The world’s economy is suffering and the working class feels it the most. This year has come with lessons that we learned the hard way, lessons that taught us the importance of saving money, and consuming less. It also gave us time to evaluate our lives and our priorities, time to think about career shifts, passion projects, or ideas we have always wanted to do but were too busy, lazy, or distracted to pursue. 

Funding a passion project is not an easy job, especially if you have suffered financially this year. However, now is the perfect time for you to think about ways to acquire capital and get started with that app you thought of our work on that gallery you’ve always wanted to have. Even though there are plenty of options to help you borrow or earn more money, choosing the best option for you is vital for the success of this project. Here are a few ways to fund your dream project. 

Find a Financial Lender 

There are many types of loans that can help small and medium-sized startups and businesses survive and maintain profitability without necessarily having a large bulk of money saved up. Taking the time to research and understand what is best for your type of business is essential. If your project involves exporting and importing goods or products, then you might find trade finance options to be best suited for your business. Trade finance is when a lender gives money to an exporter so they can ship products to the importer. The importer will only have to pay back the lender when the exported goods are sold. There are rules, regulations, and time limits for this option to work in the best interest of the lender, exporter, and importer, so take the time to understand more about it before you make up your mind.


If you have a full-time job and are trying to plan out your passion project at the same time, you might find it extremely useful to take a couple of hours every day for a side gig. The extra cash will be of great help to the financial needs, obligations, and sudden support that your project may need. Make sure you take advantage of your old talents and skills to make more money than you usually do. Save some up for work emergencies or if you need someone else’s support with your project. 

Get Sponsors

It depends on the type of project you’re planning out, but many projects can be funded by sponsors. Sponsors will not only help you with cash, but their presence will become one of the most essential tools to market and advertise your project. Their names and logos will increase your brand awareness and get you better exposure. Pursuing sponsors will need you to collect data and expand your network as well as prepare pitches and presentations. Remember, the only thing any sponsor will care about is the value-added to their company and the money they can do in return for being part of your project, either directly or indirectly. If you pitch the right people and understand how to qualify leads, you will be able to get more financial support than you planned for in no time. 

Create a Cost-Control Plan 

Having a cost-control plan means you will cut your costs low to try and save up some money as well as liquifying any unused assets you may own to finance your project. You will be surprised how much cash you will be able to spare if you eat more at home, shop less often, and make smarter choices on a daily basis. When trying to fund a passion project, every cent counts, so, make sure you sell that TV you bought but never used or that old phone that you have had in the drawer since, forever. Make sure your lifestyle is more efficient than ever before. 

Funding a passion project can be overwhelming and confusing, as it needs a lot of planning and compromise. But keep in mind that if you research, gather intelligence, and collect enough data, you will be able to choose the best, easiest, and safest way to fund your project. When you finally start to make revenue from your project, you will feel so fulfilled and proud. Just make sure you evaluate where you are in the market amongst competitors so you can come up with ways to develop that project and make it more profitable.