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Thread: Experienced advice please/thank's.

  1. #1 Experienced advice please/thank's. 
    Your Mama! GiantEvil's Avatar
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    I've got an idea that I'm ready to propose and attract investors.
    I've found this site; http://www.gobignetwork.com/.
    Is this a good idea, or could this site be a scam?
    Is there a member of this board who has experience with business proposals and attracting investors?
    Would you like to help me for a cut?


    I was some of the mud that got to sit up and look around.
    Lucky me. Lucky mud.
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  3. #2  
    Veracity Vigilante inow's Avatar
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    I only know about these issues peripherally. We have a whole team of people who does venture investing, and I'm not connected with them. Usually, my proposals are internal, not to strangers, so that gives me an advantage because I can tailor the presentation to their interests, the goals they have for the quarter or year, and the work they've done in the past. I can tell a story, and make it more personal.

    However, there are a few key parts which I figure will be consistent.

    First, you need to show the current state. What are the problems and challenges with the current state, and why do they care about this. This also helps you set the context for the problem you're trying to solve. It helps you provide context for the opportunity you're presenting.

    Then, identify the benefits of the idea. What is the return they can expect if they invest? How did you calculate this? How realistic is it? Do your homework. If they invest $1M, can they expect to get $10M back? If so, how long will it take?

    Describe the risks, and potential ways this idea could fail, and then articulate how you've planned around them, and what you'll do to mitigate those risks. Explain that you've thought through all of the pieces that could lead to failure, that you've accounted for them in your approach, and (here's probably the biggest part) make certain they understand that any risk in their investment has been minimized.

    You cannot guarantee success, but you can show that you've made your chances for success very good. Also, most investors would probably want to know how their money will be used, so have a high-level breakdown whenever possible. X dollars in materials, Y dollars in staff (break down types, too, if possible... this much for plumber, that much for gardener, this other much for admin), Z dollars for printing or rent costs. Maybe show how you'll be reinvesting revenues, and how you'll continue to grow the idea as it finds traction.

    These are just a few ideas off the top of my head. It depends on the audience, and what you're doing, but basically... What's the current state, what's the opportunity, how does your idea address it, what are the front end costs and how will money be spent (monthly, quarterly, whatever), what are the risks, how will you mitigate those risks, and what is the likelihood there will be a return on the investment, and how did you calculate that.

    No need for any royalties to me. This advise is free. Just remember, you get what you pay for.


    Also, I'm personally skeptical of online sites for stuff like this, but the above may be fantastic. I really don't know, I just have this idea in my head that this sort of thing happens via social networks and professional connections. You might consider spending some time looking around online for informal reviews about the site and experiences from real people who have used it. I'd personally be worried that they just take your idea and screw you over with some legal small print somewhere.

    Regardless, good luck.


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  4. #3  
    Your Mama! GiantEvil's Avatar
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    My first shot at Googling a report on the site listed above netted me 8 posts about it being a scam.
    Your rundown looks like a good template to me.
    Thanks inow.
    I was some of the mud that got to sit up and look around.
    Lucky me. Lucky mud.
    -Kurt Vonnegut Jr.-
    Cat's Cradle.
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