You have the perfect website idea...Where do you get the money to fund it?

[twells22]

Ok, I have an idea for a site and I know that it would make money, maybe not 100s of millions but I can guarantee millions. I know people have thought it a million times before but I know I have something here.

Problem? Well of course it's going to take money. How much, I don't know yet. I would assume to get the site built and initial advertsing would cost $50,000 to $100,000. But there would be more costs so I'm not sure how much I would need.

I'm assuming I would need to come up with some kind of presentation with extensive information on my idea, but who do I take this information to? I know investors but where do I find these type of people?

Any information on this subject would be helpful. I haven't slept in a little over two days thinking about this and my idea. :sad2:

 

[tekz999]

Try me.

 

[DomainingCom]

There is people here with money.
If the project is good I am sure I am not the only one interested to finance it and get some shares.
Ask people ready to finance to sign and fax you an NDA and after explain them your project.

 

[Theo]

1. Get a business plan developed
2. See your bank manager & get financing

 

[twells22]

There is people here with money.
If the project is good I am sure I am not the only one interested to finance it and get some shares.
Ask people ready to finance to sign and fax you an NDA and after explain them your project.

I will be at my lawyer's office tomorrow to get a NDA. Thanks for the info. and I'll keep you in mind when I get it done.

 

[Poker]

Just use your own $. If you really believe in the idea and have what it takes to make it work than it does'nt matter how $ you have, you will make it work. You can create a business worth millions on the net with very little (hosting + domain name) and therefore very little risk. Why indenture yourself to someone else when you can maintain full control and very little risk by just getting off your ass and working your ass off.

 

[twells22]

Just use your own $. If you really believe in the idea and have what it takes to make it work than it does'nt matter how $ you have, you will make it work. You can create a business worth millions on the net with very little (hosting + domain name) and therefore very little risk. Why indenture yourself to someone else when you can maintain full control and very little risk by just getting off your ass and working your ass off.

Well how am I suppose to build a complex website with no money? I have no idea how to build the type of site I need. It would be worth the money to pay for that than use all of my time to learn all of that stuff.

 

[Tia Wood]

Starting by building a mock up, even if it's just of screenshots so you have at least something to show potential investors. They'll also want to see a business plan, not just an idea with promised returns.

 

[hugegrowth]

Look up Silicon Valley angel investors. Business 2.0 magazine did a piece on a lot of these types of investors last year, and even gave contact information for some of them. Not sure which issue it was. These are people that have made big money from their own companies, selling them off, and now have the time, money and contacts to help people with good ideas. They will ofcourse want a % of the venture, though. Most of them won't sign a NDA though, so I don't know if it's worth doing that. I'd suggest trying to get the idea part built, so less chance of your idea being stolen. Good luck.

 

[Duckinla]

Investors want more than an idea. Lot's of people have ideas. Do you have a track record? Do you have a history of success? Do you have other domain projects that are running? Investors are putting money into you to a higher degree than they are putting money into an idea.

 

[SeanIM]

Investors rarely will sign an NDA, although if you can find one that will it's a great idea. Also as mentioned in this thread already, having a 1) business plan, and 2) track record of some quantifiable success will greatly increase your chances of attracting an investor.

If you want a nice report & list of angel investors check this out:
http://www.fundingpostreport.com

It has a pretty nice list of investors.

 

[NAK]

my #1 rule in business.

Do NOT form partnerships! you will regret it beleiive me!.

borrow money from whatever source you can, if bank wont lend, borrow from family members, girlfriend, wife or mistress, if you dont have mistress, get one!, if all else fails sell assets, you will be better off in long run.

 

[Raider]

if you dont have mistress, get one!

:veryangry: Tell me your kidding Nak!.

I like megnerd's advice best. I dont know how complex your web site is but perhaps you can development most of it yourself, and hire a programmer for what you cant do. You can also take web development classes to help you along the way......If you dont want the hassle, perhaps you can find a programmer to invest in your idea.

Good luck!

 

[petrosc]

the main problem is not the coding and designing of the website but advertising. If you don't have huge advertising budget at your disposal then you may crash and your idea may be stolen.

If your idea is really one of a kind and is truly something that might bring millions, it is surely something that is going to be copied by others sooner or later. All great ideas give birth to copy cats. Now if one of the entrepreneurs that copies your idea has more advertising funds available than you, he will gain popularity at a quicker rate than you and will surpass you. Then you can forget about your great idea, somebody else will be profiting from it.

What you need, is to gain high popularity as quick as possible, so that you will not give the chance to copy cats to catch up. In order to do that, you need huge advertising funds at your disposal from day one. If you don't find a large budget before you start, don't start at all, unless you want to risk. If you do want to risk, well, I guess you have nothing to lose.

 

[ctc]

the main problem is not the coding and designing of the website but advertising. If you don't have huge advertising budget at your disposal then you may crash and your idea may be stolen.

If your idea is really one of a kind and is truly something that might bring millions, it is surely something that is going to be copied by others sooner or later. All great ideas give birth to copy cats. Now if one of the entrepreneurs that copies your idea has more advertising funds available than you, he will gain popularity at a quicker rate than you and will surpass you. Then you can forget about your great idea, somebody else will be profiting from it.

What you need, is to gain high popularity as quick as possible, so that you will not give the chance to copy cats to catch up. In order to do that, you need huge advertising funds at your disposal from day one. If you don't find a large budget before you start, don't start at all, unless you want to risk. If you do want to risk, well, I guess you have nothing to lose.

Great advise Petro

 

[petrosc]

Efxaristw file, I have a project in mind as well and I have gave this a lot of thought

 

[DomainingCom]

Just read your speech Petrosc, well written.
This is why I laughed a lot when someone else recommended to start alone.

A lot of people think that having an idea is sufficient.
They ignore that 99% of the sites that are succesfull spent and are spending a lot in marketing.

In French we say:
(a) "Le savoir faire"
(b) "Le faire savoir"

You can only make a lot of money with (a) AND (b)

P.S: Don't know the translation.

 

[Mr.Domains]

In French we say:
(a) "Le savoir faire"
(b) "Le faire savoir"

You can only make a lot of money with (a) AND (b)

P.S: Don't know the translation.

I think a rough translation would be something like:
(a) "The know-how"
(b) "How to be known"