Funding

[hazele]

So I've got a great idea with virtually no competition and a nearly completed business plan. I'm unsure about where I should shop my plan around first, I know there are a few websites that are great but I could really use the advice of you experience capital finders. I'm seeking about 50k and if you need more info on the business in order to help me find the best places to shop the plan just let me know. Thank you for your time.

[jasaunders]

Friends, family and banks.

[iClockwork]

Never borrow from banks if you can. Choose your banks wisely too, especially if you're in the UK -- never bank with Barclays. A close friend almost lost 40% of his £50 mil a year gift business because the bank never properly recorded anything, and 'over calculated' some quarterly spendings by £4 million. He lost his house and car at the time and the case wasn't even looked into.

[stringking]

Well from what i have seen there is no family or friends when it comes to money. And if you do not have money to go the extra mile your lost , to me anyone in business today or in the past is asking for money for a service or product so is this good advise to say dont ask ? All i see is people making money off people trying to get a business going but most fail . What ever happen to trust that one on one business relationships today its all about the fast dollar . I know why it takes money to make a good product ,but i dont understand why i need to pay twice that amount to sell it . Iam a inventor own my small company and also work my day job to keep it going never asked anyone for a dime dont have any loans its all mine . But if a company or investor came to me now, i would let them have it all as that american dream is a dream its really a gamble some win some dream on forever. just my inovative thinking on the issue hope i did not offend anyone .Best to ya take care

[Crysco]

Funding is different for eveyone. I guess it all depends on the business and what your plan is.

Sometimes you just have to do it yourself, some people take on second or even third jobs.

If you don't have friends or family that can help, find some. It is always good to network and find people who believe in what you are doing. Don't be afraid to ask the top dogs in the industry they might even want to team up with you. Be careful to protect your ideas though, which is difficult to do. You may find that people don't believe that your idea will work, but they might send you to someone who does.

Anyway I hope I have given some insight. I did the best I could with the information at hand. Good Luck

[usakos]

i'll be afraid if there's currently no competition, because may be the market is not good enough, but then i may be wrong.

[hazele]

the market for this is great, it's just no other business is catering to this exclusively.

[Guru]

Hazele..it's a cold wheather out there...if you can sell your product or service on papers like a salesman selling a car on a brochure to a prospect then that might be a way to raise your capital...it works very well!!!!!!

[marcstep411]

Raising money is a full time job and its tough, even tougher in today's environment. Banks don't count unless you have collateral -- if you do great since they don't dilute your ownership. Beyond that it is a progression, from credit cards, to family and friends (or individual angels), to angel groups (Angel Investors | Angelsoft), and onto to VCs if you still need cash. Each step must be driven by business milestones (prototype, alpha web site, customers, etc). Finally, there is always competition one way or another. If you need further info visit our non-commercial web site below.