[NEGREIROS]

Hey everyone...



I have a brilliant idea of a new website.
I have been reading everything about steps necessary to succeed in this business. To be honest, I'm very excited about this. The closest people i have been talking about, went crazy. All of them, seen to be amazed in how that idea was never created.
Upfront i can tell you that I'm trying to be very sceptical at the same time optimistic.
I run a successful business on a daily basis, but this new idea is consuming my thoughts and my ambitious dream...

My question:

If you had a idea with a potential of becoming a national fever in a short period of time. To worth millions on the first year (depending in how fast you wanted to grow); Would you go with venture capitalists or angel investors?

[jasaunders]

Before you have a complete business plan and the business up and running, is way way way way way way way way too soon to get VC or angel funding. Everyone has ideas in their head, unfortunately ideas are worthless. What VC's or angels are looking for is a solid business, with good management, that is likely to succeed. If they had a penny for everytime someone tried to pitch them a good idea, they would be a million times richer than they already are.

What you need to do is start with other forms of financing. You have to get as far as you can and prove the business can be successful. You need to have done your research. You need to have sales projections, a balance sheet, competitive analysis, market research, economics information, breakeven analysis, operational information...

Here are some other financing methods to think about to get you going:
15 Ways to Fund Your Business « Ramblings of an Entrepreneur

[akula]

Originally Posted by NEGREIROS

If you had a idea with a potential of becoming a national fever in a short period of time. To worth millions on the first year (depending in how fast you wanted to grow); Would you go with venture capitalists or angel investors?

awww such a naive question, it's almost cute )
think you need to do a bit more reading, if u know what i mean

[consueent]

Also, before you get too excited, you may want to hire a lawyer to do a trademark/patent search. Just because you can't find the idea already being done anywhere, doesn't mean it is a new idea. Someone else may have already thought of it, has patented it, and is working of getting the business going. Maybe your idea doesn't need a patent, but if it does, I'd really seek professional help.

[NEGREIROS]

heehehehhehehehehe


I know guys that i still have a long way to go...
I'm not in a hurry. Like I said, I run a business on a daily basis that gives me a pretty good life stile...
I was afraid that my question would sound silly... It did!

Once again, after all steps necessary, who should I go first????

[jasaunders]

There is no way to answer that, because all the initial steps aren't done. You don't know how much you will need, how much equity you will have and how much you want to give away, there are so many unknown variables, there is no way to give an intelligible answer.