If you believe you can get started in stages with
this project, I would recommend this. Because you have no collateral,
you may redo your business plan based on a structural expansion
starting from something small and barter out your growth for an
exchange for skills you have to complete this project.
Unfortunatly, the 140,000 is the startup I need for the first stage.
I can`t break it down anymore than that. A majority of that is to fund
the designing of the databases that are neccesary to build this
website. Without the databases, the site is useless and inoperable.
RobertJ is correct...you need to put
together a solid "advisory board" at a minimum. Additionally, you will
have to, without question, pass the wallet test. What I mean by that is
if you are going for investment then any saavy investor will want to
see that customers are actually taking money out of their wallets and
putting it into yours. Until then...you have no proof of concept and
acquiring capital will be very tough.
What will this advisory board need to consist of. How do I build such a team.
I am considering on applying to online angel investor networks by
submitting my business plan. I am a little skeptical of sending my
business plan as there is nothing like my idea currently offered on the
web. In an effort to protect myself from the idea being taken by
investors without me, I was thinking about using my credit card to make
purchases such as buying the premium domain name, and registering the
business in my state. Is this necessary?
sk24iam7/27/2008 7:47 PM