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Posted by Jim C Roberts on April 29, 2006, 9:18 pm
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Greetings all,
First, let me thank you for your time, I'll try to be brief, but I'm not
promising anything. :)
I have what I think is a semi-original idea for a side line business for
myself that has the potentional to become a full time job. Unfortunately I
have more ideas than cash at the present time. How does one go about
attaining the neccesary revenues to start a business from scratch? Ideally
I would like to find someone who has some discretionary funds that they
would be willing to invest in my venture. Realizing that while there is no
guarantee given, we could come to an agreement on a set percentage that they
would have returned to them, upon which time our commitment to each other
would be over.
Am I dreaming? Is this too simple an idea?
One person I have spoken to says that people are going to want to be
buying a percentage of the business, but I do not want/need any partners, in
my way of thinking I will be supplying 2/3 of the neccesary factors, the
ideas and skills. The final third, the funds, should be self providing
after the initial start up.
Again, am I seeing this in too simple of a way?
Guess that's it, gang. Feel free to shoot my ideas full of holes, but I
would prefer some constructive criticism on this matter. Either way, any
and all input is greatly appreciated.
Regards,
Jim C Roberts
P.S. Steve in Las Vegas or Lane in the PNW, you guys still hanging out
here? Some reaccuring puter problems have kept me away for awhile, hope you
are both doing well. JR
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Posted by John Miller on April 29, 2006, 9:48 pm
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Most venture capitalists will insist/demand that they own and control your
business. You'll get what's left.
No personal experience, but have attended a few seminars on the subject.
--
J Miller
> Greetings all,
>
> First, let me thank you for your time, I'll try to be brief, but I'm not
> promising anything. :)
>
> I have what I think is a semi-original idea for a side line business for
> myself that has the potentional to become a full time job. Unfortunately
> I
> have more ideas than cash at the present time. How does one go about
> attaining the neccesary revenues to start a business from scratch?
> Ideally
> I would like to find someone who has some discretionary funds that they
> would be willing to invest in my venture. Realizing that while there is no
> guarantee given, we could come to an agreement on a set percentage that
> they
> would have returned to them, upon which time our commitment to each other
> would be over.
> Am I dreaming? Is this too simple an idea?
> One person I have spoken to says that people are going to want to be
> buying a percentage of the business, but I do not want/need any partners,
> in
> my way of thinking I will be supplying 2/3 of the neccesary factors, the
> ideas and skills. The final third, the funds, should be self providing
> after the initial start up.
> Again, am I seeing this in too simple of a way?
>
> Guess that's it, gang. Feel free to shoot my ideas full of holes, but I
> would prefer some constructive criticism on this matter. Either way, any
> and all input is greatly appreciated.
>
> Regards,
> Jim C Roberts
>
>
> P.S. Steve in Las Vegas or Lane in the PNW, you guys still hanging out
> here? Some reaccuring puter problems have kept me away for awhile, hope
> you
> are both doing well. JR
>
>
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Posted by Leo Lichtman on April 29, 2006, 9:55 pm
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"Jim C Roberts" wrote: (clip) we could come to an agreement on a set
percentage that they would have returned to them, (clip)
^^^^^^^^^^^^^^^^
A set percentage of what? If you mean a set percentage of the money the
other party invests, then you are just talking about a loan. If you mean a
set percentage of the business revenue, you are asking the lender to take a
greater risk, so the percentage would have to be higher. Also, you would
have to make a very convincing case that you are going to succeed--the
lender stands to lose his whole investment.
If you have a really good plan, you ought to be able to go to the bank and
borrow some money.
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Posted by Andy Asberry on April 29, 2006, 11:12 pm
Please log in for more thread options On Sat, 29 Apr 2006 21:18:37 -0400, "Jim C Roberts"
>Greetings all,
>
> First, let me thank you for your time, I'll try to be brief, but I'm not
>promising anything. :)
>
> I have what I think is a semi-original idea for a side line business for
>myself that has the potentional to become a full time job. Unfortunately I
>have more ideas than cash at the present time. How does one go about
>attaining the neccesary revenues to start a business from scratch? Ideally
>I would like to find someone who has some discretionary funds that they
>would be willing to invest in my venture. Realizing that while there is no
>guarantee given, we could come to an agreement on a set percentage that they
>would have returned to them, upon which time our commitment to each other
>would be over.
> Am I dreaming? Is this too simple an idea?
> One person I have spoken to says that people are going to want to be
>buying a percentage of the business, but I do not want/need any partners, in
>my way of thinking I will be supplying 2/3 of the neccesary factors, the
>ideas and skills. The final third, the funds, should be self providing
>after the initial start up.
> Again, am I seeing this in too simple of a way?
>
> Guess that's it, gang. Feel free to shoot my ideas full of holes, but I
>would prefer some constructive criticism on this matter. Either way, any
>and all input is greatly appreciated.
>
> Regards,
> Jim C Roberts
>
>
> P.S. Steve in Las Vegas or Lane in the PNW, you guys still hanging out
>here? Some reaccuring puter problems have kept me away for awhile, hope you
>are both doing well. JR
>
We start a business with your ideas and skills and my money.
The business goes bust.
You still have your ideas and skills and I have...nothing.
Save the money, convert possessions to money, borrow the money but
NEVER from relatives. Or a friend you value. Get a second FULL time
job. You'll be working double time at your own business. May as well
get used to it.
Everyone wants to own their own business but few want to invest the
time, effort and sacrifice. Good luck to you.
--Andy Asberry recommends NewsGuy--
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Posted by Tim Wescott on April 30, 2006, 1:59 pm
Please log in for more thread options Jim C Roberts wrote:
> Greetings all,
>
> First, let me thank you for your time, I'll try to be brief, but I'm not
> promising anything. :)
>
> I have what I think is a semi-original idea for a side line business for
> myself that has the potentional to become a full time job. Unfortunately I
> have more ideas than cash at the present time. How does one go about
> attaining the neccesary revenues to start a business from scratch? Ideally
> I would like to find someone who has some discretionary funds that they
> would be willing to invest in my venture. Realizing that while there is no
> guarantee given, we could come to an agreement on a set percentage that they
> would have returned to them, upon which time our commitment to each other
> would be over.
> Am I dreaming? Is this too simple an idea?
> One person I have spoken to says that people are going to want to be
> buying a percentage of the business, but I do not want/need any partners, in
> my way of thinking I will be supplying 2/3 of the neccesary factors, the
> ideas and skills. The final third, the funds, should be self providing
> after the initial start up.
> Again, am I seeing this in too simple of a way?
>
> Guess that's it, gang. Feel free to shoot my ideas full of holes, but I
> would prefer some constructive criticism on this matter. Either way, any
> and all input is greatly appreciated.
>
> Regards,
> Jim C Roberts
From _their_ perspective they will be loaning you the money, and
assuming most of the risk if the business goes bust -- so they'll want
to have most of the business at the end.
You say you don't want or need partners -- but then you say you need the
money. That sounds like needing partners to me.
I would suggest you do one of two things: One, try to go it your own
with a home equity loan and living on rice & beans for a while while the
business starts. Two, see if you can find someone with business
expertise _and_ money -- just making the worlds best widget isn't going
to help you manufacture it economically, or get it onto dealer's shelves.
--
Tim Wescott
Wescott Design Services
http://www.wescottdesign.com
Posting from Google? See http://cfaj.freeshell.org/google/
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>
> First, let me thank you for your time, I'll try to be brief, but I'm not
> promising anything. :)
>
> I have what I think is a semi-original idea for a side line business for
> myself that has the potentional to become a full time job. Unfortunately
> I
> have more ideas than cash at the present time. How does one go about
> attaining the neccesary revenues to start a business from scratch?
> Ideally
> I would like to find someone who has some discretionary funds that they
> would be willing to invest in my venture. Realizing that while there is no
> guarantee given, we could come to an agreement on a set percentage that
> they
> would have returned to them, upon which time our commitment to each other
> would be over.
> Am I dreaming? Is this too simple an idea?
> One person I have spoken to says that people are going to want to be
> buying a percentage of the business, but I do not want/need any partners,
> in
> my way of thinking I will be supplying 2/3 of the neccesary factors, the
> ideas and skills. The final third, the funds, should be self providing
> after the initial start up.
> Again, am I seeing this in too simple of a way?
>
> Guess that's it, gang. Feel free to shoot my ideas full of holes, but I
> would prefer some constructive criticism on this matter. Either way, any
> and all input is greatly appreciated.
>
> Regards,
> Jim C Roberts
>
>
> P.S. Steve in Las Vegas or Lane in the PNW, you guys still hanging out
> here? Some reaccuring puter problems have kept me away for awhile, hope
> you
> are both doing well. JR
>
>