Sep 26, 2011
You have an idea to develop a website but due to limited funds and/or experience you decide that an investor is the answer to help you accomplish your business goals. Do you really need a business partner or do you just need to stop the excuses?
Taking a leap in business is just that. It requires confidence, focus and determination. It demands a spirit that is determined to overcome all obstacles no matter what.
When you lack funds or experience, there are still options.
You need an investor because:
You Lack the Funds
Sometimes we overestimate the amount of funds it takes to venture into a business idea. You should be looking to jump start your business idea on whatever funds you have available or whatever funds you can save or borrow from friends and family then make good choices with those funds. Save money on development by using a well tested CMS such as WordPress or Joomla. Compare printing companies to see who can give you bulk discounts on printing materials. Learn how to do simple tasks such as using FTP and basic SEO. Most importantly, learn a few basic skills that will help you in the future.
Just because you throw enormous amounts of money at a business idea is not a guarantee it will succeed. Throwing money at a bad business idea or even a good business idea with poor execution will likely result in a complete loss. Investors know this and if they don’t see you risking yourself financially then you are less likely to attract the proper funding you need. If you do not believe in yourself enough to take the financial risk then why should they?
You Lack the Experience
If you lack the experience to execute your idea then you must be able to either financially support someone who does or you need to gain the experience yourself. Lack of experience equals poor management and business partners/investors want to be assured that you are qualified to handle the basics. You may also discover that your ideas won’t execute in a realistic setting. Consult with someone who has the experience or work to gain it yourself.
Your Idea is Very Unique
Few people have ideas so unique that they are innovative and mind blowing which change every day life as we know it. Chances are your idea is a renovation of something else and there are already competitors waiting on arrival the moment the light bulb goes off in your head. The key is not to completely reinvent the wheel but to improve on the weaknesses and downfalls of a competitor. This is your advantage point and business partners/investors will expect you to show how your idea fulfills a demand, improves a function or outperforms a competitor.
But….This is Guaranteed to Work
But why? If you lack the funds, lack the experience and your idea is off the Reality Chart then why would a business partner/investor want to put forward his or her money into your ducks that are flapping all over the place? An idea is simply not enough to attract what you need and it should not be enough for you either.
The best advice I was ever given is that you stop the excuses and put forth your OWN energy, your OWN money, your OWN risk into your OWN dream and keep working at it until you notice people knocking on your door without you asking.
Great….So Where to Start?
If you want your business idea to move from dream to reality the best place to begin is with simple pen and paper. Draft out a plan that outlines whatever weaknesses you have and outlines whatever steps necessary to overcome those weaknesses. By doing so, your dream has already manifested itself into the physical world except with a more clear, focused and realistic plan on how to move forward….without needing an investor.
What's your opinion? Join the Discussion! Leave a Comment
About the Author 
Like It
Tweet It
Comments
Contact Me
RSS
Hiring people for a tech project is 99% failure rate.
Best is to have a few businesses under your belt so you are used to the low scruples out there. And you know the key is to never spend money unless you have to and know that research and development are key.
Then how do you do the programming. I have seen so many people turn to a friend and soon they are fighting. You can not give up control. When you hire someone make sure they know you call the shots but welcome input.
They will still probably get mad and quit.
I worked for a company that had a great way. They lied and made promises they never intended to keep. I saw this right away and quit. They cussed me out. This went on and on for 15 years.
Soon I had the programming skills and the business wisdome to make my creations come to life.
So either get the programming skills, I used c# and sql and hired an html guy.
I researched and developed my own plans and then basically did it all myself.
The #1 skill you need is to read people and find the honest hard worker.
But most workers are used to getting screwed over and lied to. And most employers will tell you they are used to hiring useless non working employees.
One last thing that pissed me off big time was a friend who had screwed me and I was barely talking to. He actually told me make sure you pay her. Her being my employee. I was like you pay minimum wage at your shop and you dare tell me something stupid like that.
Be prepared to meet many stupid people AND, TRUST ME, AND they will promise you anything/everything and deliver jack sqaut/nothing working or worthwhile. So unless you can work WITH them where you watch over them at the same time your doomed.
When I tried to join a big group where I knew I could let loose all my great ideas they told me no. They over valued themselves and undervalued everyone else. They had no vision and couldnt get a good read on people.
Now they are bankrupt and I am doing good.
Be very careful. Look at the horrid leadership Yahoo has had.
So next time someone tells you that they dont think you have the skills for them just tell them they have no idea what they passed on.
Do I go back to these losers who actually laughed at me and laugh at them. No. I have learned the same things Rick Schwartz learned.
Learn everything you can and use minimal help and you will be successful.
Rely on others and you will be broke.
The funniest thing is so many losers kept track of me because I got phone calls out of the blue saying we are ready to partner!
Best of luck and remember you should not hesitate to say NO! and you will find you say No! 85% of the time or more.
Excellant advice however contradicting Do I go back to these losers who actually laughed at me and laugh at them. No. I have learned the same things Rick Schwartz learned. Sounds top heavy calling them losers and stating not laughing at them which infact you are, Ive had alot of the same instances and can relate the most important thing Ive learned to thank all those Really nice people that if they hadnt pissed you off you be just like them so tearing them down makes you a dominoe in the row the only real flaw any human has is thinking they have none
Party-Pooper!!! everything is possible!