Insufficient funds.

[parkerscott]

You realize there are people who only investor in people like you right?

I've always got actual angel investors (not friends or family) pretty easily.... I would never consider taking a loan :/

Research investors local to you in that industry and contact them relentlessly.

Yeah I have looked at angelist.co I believe it is. Most of the investment is in tech. They are usually looking for a minimum viable product and a track record as well. Im still looking for investors, and cold calling them, and signing up for incubators etc but no bites yet. Im possibly attacking from the wrong angle though.

 

[JDM]

Yeah I have looked at angelist.co I believe it is. Most of the investment is in tech. They are usually looking for a minimum viable product and a track record as well. Im still looking for investors, and cold calling them, and signing up for incubators etc but no bites yet. Im possibly attacking from the wrong angle though.

It's hard to comment without knowing the idea you're pursuing, however reaching out and cold calling investors is never the wrong angle. Although they might not be willing to invest until your idea gains more traction, these are great contacts to have.

Is there a way that you can progress your idea and do a proof of concept without spending the $15k?

 

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[Gale4rc]

Yeah I have looked at angelist.co I believe it is. Most of the investment is in tech. They are usually looking for a minimum viable product and a track record as well. Im still looking for investors, and cold calling them, and signing up for incubators etc but no bites yet. Im possibly attacking from the wrong angle though.

I'm a unsuccessful fool with no educational background with funding on 2 separate products right now and 2 separate (small) teams..... Had 0 MVP on both.

My main developer on one of them, I literally stalked online - found his Skype - got him to quit working at his current job and start working on my startup for equity full-time.

What's your excuse again?

Not trying to hate... Just show that it's possible.

 

[parkerscott]

I'm a unsuccessful fool with no educational background with funding on 2 separate products right now and 2 separate (small) teams..... Had 0 MVP on both.

My main developer on one of them, I literally stalked online - found his Skype - got him to quit working at his current job and start working on my startup for equity full-time.

What's your excuse again?

Not trying to hate... Just show that it's possible.

I cant get them to pick up the phone lol, thats my excuse and its a terrible one. I guess I should start stalking them, or send them a huge teddy bear to get their attention.

 

[LightHouse]

Im not looking for the answers to just be given to me because im lazy. Im seeking answers because there are so many of them. This isnt my first rodeo and i dont need my hand held. I have contributed to this forum, and I have held peoples hands. I just dont understand why nobody gets on anybody elses case when they ask questions, but when I ask an innocent question I get chastised? And yes i know that a loan at 6% is better than 22%

Come on, don't play victim, i tear everyone up, and in turn i get torn up all the time. The thing is, it sounds mean here on the forum, but if we were chatting over a beer it would sink in a bit. You just have to go get it.

How much have you made today that puts you closer to that 15k?

 

[parkerscott]

Parker, the only reason I was/am on your case on this thread is because of statements like these, "market is worth hundreds of billions a year, theres very little competition. I also meet a need that hasnt been met. Its easy to scale, and doesnt take much of my time."

People that make statements like these are a huge red flag to me. It shows way too much emotion and not enough research. If you watch Shark Tank, you notice that they hate it when people say stuff like "this is a 3 billion dollar market", because it doesn't really mean much. You can say that clothing is hundreds of billions of dollars a year, but you aren't making all the clothes in the world. Maybe you just make socks, what's its market like? Maybe it's just athletic socks, what's its market worth? That's why saying "hundreds of billions a year" to me just sounds wrong and inexperienced.

I don't know what the market is of much of the stuff I get into. But what I do know is that most markets are large enough that if you capture any percentage in it, you will be making at least six figures. I concentrate on them because the markets are small and easier to compete. I only need 5-6 six figure companies to make me happy.

I know exactly what you are saying. I know it seems far fetched, but thats because it is. The few people that I have shared this with have even asked me how its even possible lol. I hope to share what it is soon, after I get some things in motion.

 

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[parkerscott]

Have you run the idea past an experienced business owner or one of the senior forum members? What do they think?

Not yet. Good suggestion though. I kind of know runnum.

 

[parkerscott]

I was in the same boat as you Parker, but I needed 25k to make it happen. Chances of an investor backing you without a successful path is next to zero, you could get your friend to be a technical co-founder but you still need to pay him wages while he builds it.

Do you want to give up 50% equity for a saving of maybe 10k?

Crowdfunding software on an idea without a great background will nearly be impossible, but if you built the MVP and gained some traction with it then the options are totally different.

Oh and take your time on a project like this unless speed to market is crucial, go slowly and research like a crazy mofo because you will have a better product in 2 months time than you can think of right now. You can pick up a lot of ideas and features by researching and looking at other web apps.

Thanks for your input, and yes I have noticed that. Most of the guys getting crowdfunding for their software are Harvard students or google employees. Im going at a much slower pace for this project. I learned more today than I knew yesterday, and I keep running into new marketing avenues.

 

[biophase]

@biophase why the pro account out of curiosity? I downgraded my account until I'm selling more than 40 items a month. I'm sure I'm missing some other reason though, or you already know you'll sell more than 40 a month.

I don't believe that you can get the Buy box without a pro account. So that's why I always go pro right away.

 

[parkerscott]

View attachment 7951

When was this? I need a new phone to be able to use this app, and I think this option was pulled off the table a few weeks ago.

 

[parkerscott]

It appeared in my FB feed yesterday

Oh lol I was looking on twitter. Thats the reason I couldnt find it I ran a google search too, and I think he has done it once before. Thank you for bringing it to my attention as well. It wouldnt hurt to try other than getting a new phone (free upgrade)

edit: He has a few pages. I found the one you saw but it wasnt a verified page.

 

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[parkerscott]

View attachment 7951

Before anyone does this, im pretty sure its a scam.

Marks cyberdust id is blogmaverick according to his verified twitter.

 

[parkerscott]

Maybe you're right. Good job on verifying it. Interesting fact that the FB page that was used to post this info is followed by more people that verified one has fans.

Yeah, something didnt seem right so I did a little investigating. If my theory is correct, that is pretty scummy of that person to do.

 

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[parkerscott]

my friend pitched Mark 4 days ago... he exchanged a few lines with him and Mark said he had a similar biz already. It was through that app I believe.

Do you know if it was blogmaverick mark or if it was askmark mark? Your friend could have had his idea snatched up by some scumbag.

 

[Rawr]

Doesn't matter...it's all in the execution and my friend is smart enough to never give away the secret sauce

 

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[parkerscott]

Doesn't matter...it's all in the execution and my friend is smart enough to never give away the secret sauce

True, true

 

[RealOG]

If you can't raise $15k, how am I to trust that you're analysis of $100's of millions/billions is anywhere in the vicinity of realistic?

 

[parkerscott]

If you can't raise $15k, how am I to trust that you're analysis of $100's of millions/billions is anywhere in the vicinity of realistic?

I never said i couldnt raise 15k, I asked what the best way would be. Theres a big difference. I havent spoken to any investors either. I did a random poll, and 60% of the people said they would use what im planning on making so the conversion seems decent. Also the market is controlled by one company, and they dont offer anything close to what I offer.

 

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[jon.a]

How can i get a business off the ground? Internet business i mean.. i am 18 and i really want to get a business started before i finish from the university and chase my entrepreneurial dreams fully.... any advice would be greatly appreciated for a nigerian like me. I just have no idea of any online business i can do.. i feel that theres so much competition in many niches and e-commerce sites too... i have passion for soccer though but competition all the same. I saw a quote from Rockefeller and he was like, "competition is sin" and it has really been in my mindset. Is that quote worth adhering to? Is it even possible to run something profitable with $100 or less?

Are you spamming us?

 

[parkerscott]

Well back to the drawing board. It appears that I will have to find another legal loophole to make it work. :/