Forums: Discussions for entrepreneurs and small business.

Hi,

I am in the process of researching and seeking some seed capital for my startup and have registered with several online funding sites (i.e. Go4funding, Raisecapital, Findthatmoney, etc.) and pitched my startup and funding requirements.
I am aware that one must be weary of scammers and protecting your ideas, but I wanted to know if anyone has received any funding from any of these types of sites or have been contacted by investors through these sites? What were your experiences? How were you approached by investors?

Would you know of any sites on the internet that write about people`s experiences with these sites??

I was recently contacted by a possible investor from the UK. His interest has been very straightforward unlike some of the other responses to my posts. I decided to respond to his email, and he now requests a business proposal to include, but not limited to, a summary of my company`s products/services, proposed transaction structure, including the amount sought, use of funds, and capital structure. He is looking for an equity position of a 3 to 6 year exit period Once he has the info, he writes that we would have a basis of discussing the terms of investment.

What do you think?
I want to proceed, but am hesitant as you can imagine.
I don`t want to send my entire business plan, but how much of it should I give away in the initial contacts to satisfy this possible investor`s request??

Can you guys weigh in??
Thanks

-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

Hi Robert,
Thanks for your response.
I sent you a PM.
Thanks

Depending upon how detailed your business plan is, you could share an abridged version of it.  This isn`t to say that you should hold back information that he is requesting.  As Robert says, it does sound pretty normal.  But if you have a really detailed plan, you may want to just provide the core info.

Thanks for your response, mentor. Do you know why I should be particularly weary of UK investors? Because they are overseas and it`s hard to verify the validity of their interest. He did disclose his address, although not his company. Although it has been a great platform to pitch one`s company, most of the responses have been from scammers. However, I am hitting all bases.
Thanks again,
J.

What happened to the mentor post from Go4funding, hmm....