Forums: Discussions for entrepreneurs and small business.

Hello Everyone…

 

I am looking for suggestions for building up capital, private funding, sponsorship or anything that may help further my dream…

 

First let me give you a few details about my project… Last year I decided to build a concept sports car and let’s just say that pretty much everyone I knew thought I had officially hit my midlife crisis stage. Now I am not denying it… but I am one of those people that when an idea hits I tend to go full force until completion.

 

Anyway… I spent several months learning CAD and doing tons of research in the field of designing concept cars. I recognized many issues with various projects that have attempted to do the same and failed. Noticing these issues I decided to approach the idea in a different way in order to increase my chances for success. I have been working on the first prototype for at least eight months now and the response to this project has been extremely overwhelming. My car has been in several magazines in many counties and there are tons of articles on the internet now, I can’t even keep up.

 

Up until this point I have been spending my own money to build this car… but with all the different opportunities presenting them selves I want to look at getting additional funding that would allow me to work full time on the project and support a new facility for manufacturing and prototyping. I have a small team now and we are looking at producing and electric version as well as a special Hydrogen Hybrid. I have people asking me all the time when and where they can purchase one and if that can give a down payment to hold there spot. As of now I have not accepted any cash from anyone… But I am beginning to think maybe I should as this could serve as the initial investment without having to hand over a percentage of my company. I hope this makes sense…

 

Tom dePont of dePont Register has contacted me as they want to be the first to reveal it at the end of the year. This is huge news, same as Robb Report which I have an article coming out in soon.

 

I guess my main questions are…

 

-         What would be the best course of action?

-         Should I look at taking money upfront for a product that still has 9 months to go?

-         Would Angel Investors or VCs be interested in a project like this?

-         I am seeking $250K to $500K to get started and grow. I have already dumped 150K into everything…

-         What should be my first order of focus?

-         I am working on an Executive Summery and Business plan. (Yes I am doing it backwards.)

 

With all the attention and press I feel like I am missing opportunities by the minute because I cannot focus on it full time as I have to work. I was expected to make it to SEMA next month but will be able to do to my job… Ugh!.

 

Any guidance and help would be appreciated…

 

Thank you,

 

Neal Bailey

www.BaileyBlade.com

Hi,

Interesting project, Neal! I think you have some great options. We started working with an entrepreneur in March that is trying to launch his business with pre-paid customers. It is a completely different type of product but a very similar start-up approach. Additionally, his last name happens to be Bailey as well. Strange!

At any rate, I`d love to talk with you about the project and may be able to answer some of your questions above and provide some guidance.

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Need Capital For Your Business...Start Here!
http://www.startupsmart.net
Joe F. Clark
Senior Principal
Start-Up Smart, LLC. - the clever way to accelerate your business
jclark@startupsmart.net

Neal,

Sounds like you have made some great progress since you previous post in March.

There are also a number of options and possibilities that have opened up for you.

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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

Well, first of all, congratulations on turning your dream into a reality. In this day and age, especially with current economic and financial jitters, working on a concept car is certainly a bold move. I am also a bit concerned that you embarked on this challenge without having done a business plan that would define the nuts and bolts of your business.

Anyways, have you heard of Tesla Motors? They build a 100% electric roadster that performs similar to a gasoline powered performance car. The venture was backed by the two Google founders, Sergey Brin and Larry Page, and rumor has it that they came up with more than $250 million to advance the car from concept to final product. As far as I know, the Tesla Roadster retails for about $85,000-$90,000 and is available in the U.S. and Europe.

I guess the point that I’m trying to make here is that your gut feeling to also develop a hydrogen/electric version of your car is pot on. These days, using alternative fuel technologies doesn’t mean you have to compromise in performance.

I would be interested in learning more about your project. Our firm has been quite active in the field of helping innovators develop green technologies and alternative fuel technologies.

So, if you are interested in discussing your project in greater detail, please feel free to PM me.



Mark



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Jackson Steiner
http://www.JacksonSteiner.com

Advanced Document Design for entrepreneurs, intermediaries, and the financial services industry.
http://www.Publications.FastVentures.com

I already have patents in the works and working on a LLC and getting legal consulting for the project. My only real problem is that I am running out of money fast, and need more and would like to find the best way to get funds without handing over a huge percentage of my company to VCs or Angels investors.

That`s pretty damned cool. The car looks an awful lot like a dodge viper though?