9 thoughts on “Question for business startups”

  1. If you need for someone or some bank to invest in your idea – you need a business plan. You need this more than even needing a good product. A good business plan can get a VC to invest in a heaping steaming pile of shit if it is written right. I would go to a barnes and nobel, pick up some books on starting your business and get an idea of either how to write a business plan or find somebody to write a business plan for you.

    An alternative is to come up with a business name, incorporate it, and then try to get a small business loan from some place under that businesses name.

  2. Also, once you have the investment, you need to decide what to do with it. I am sure you know this, but the next step is to get the word out about your product.

  3. Thanks gg. It’s less of a product, and more of a… how can I say this… a place. Definately not virtual or technology centered, but some activity would be there. I’ve had this idea burning my skull now since I was a kid.

  4. It shouldn’t matter. An investor will not shell out money to you unless they get a return on it – obviously the reason they are called investors 😉

    And investor will invest their resources for a return on investment. That ROI could be money, a community service, etc. Not only should your business plan be well thought out, but it should also be focused on whoever it is you plan on hitting up to invest. Again, depending on what they want in an ROI, you write the business plan to give them what they want.

    Like I said, I could go on all day about it, but I am no expert on the subject – so your best bet is to read up and get a consultant on it.

    Again, no matter what the business is, you need to make the investor get a warm and fuzzy.

  5. I agree with gg and I say that with the weight of an MBA on my back and several business plans for never launched businesses in the vault somewhere.

    Two years ago you could have put together a 8-10 slide powerpoint presentation but these days you will need a lot more to get investment money:

    – the idea
    – the market for the idea
    – the financials of the idea (revenue and cost projections for 3-5 years)
    – why you are the right person

    Each of these should be 2-3 pages of narrative long, not powerpoint.

  6. Thanks guys. So I guess the next step is writing up the business plan and getting it reviewed – that is if I decide to give this a whirl.

  7. Greetz KM

    Good comments on business plans. There are programs that will write them for you. But in the end you need to have a vision of what you will do once you take that plunge. I have conversations all the time with people who have. They say its scary at first but then when your working you for yourself, you feel great about what your doing.

    As a sum of all the comments I have ever heard, the biggest is:
    “The comfort of being in control”

    Products come and go, time changes, but the future of IT lives in the “Service” realm.
    People can buy computers and software all day long, roll it out, but who is there to show everyone how to use this technology?

    The little guy has reach in this market. Companies don’t want to spend enormous amounts of energy on seeking out good solutions, they find a local person or company to solve their problems.

    Look at the statistics on computer users throughout the world, and you’ll see the enormity of the situation. I talk with companies all the time they say they are starving for good IT help, even if its just Joe The Tech guy, on the phone.

    The point is this, if you believe in what you do, and this is the real gut check, then just do it.
    As Rick Flair put it, “To be the MAN, you’ve got to beat the MAN!.

    You will never get rich working for someone else. You will never be happy unless your doing what your heart wants.

    As a wise person once said, “What good is all the money, if I don’t have time to spend it?”

  9. u will never be success if u start a business with lower startup > If u get a profit it`s only a little benefit from your business .If i start a business like selling food or something, i will make a big agencies

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