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Venture capital and business resources, anyone here start a new business?
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olePigeon
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Join Date: Dec 1999
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Jul 27, 2006, 02:27 PM
 
So I got great feedback on a business idea and I'm starting to write up a business and financial plan. Gonna do market research and see what different areas may hold for customers. I started to poke around at business and startup loans... well, that was a slap in the face. Even though I've been employed for the past 8 years, I couldn't find a single business loan that didn't require either, a) an existing business, and in business (with a profit) for at least 1 year, or, b) already have a pile of cash in some form or another (equity on a house, etc.)

So, a business loan is completely out of the question as this would be a startup and I rent, not own. Only thing I could put for colateral would be my old pickup. $500 ain't enough.

So, here's my idea unless any of you know of some other options.

Start a company on the internet selling items related to what I would like my retail presence to have. Then a year later... get a loan.

Essentially, it'll be a toy store. I started to look into venture capital for retail stores, but most of them only deal with people opening a franchise.
"…I contend that we are both atheists. I just believe in one fewer god than
you do. When you understand why you dismiss all the other possible gods,
you will understand why I dismiss yours." - Stephen F. Roberts
     
Mastrap
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Join Date: Sep 2001
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Jul 27, 2006, 02:32 PM
 
Forget about finance. When I started Publish and be damned I tried the finance route. Either people wanted collateral or they wanted 90% and control of the company.

Start slow. Use your own money, then use whatever income comes in to make improvements. Keep the day job and work on your company in your spare time. Keep control of the damn thing and be beholden to as few people as possible. Grow organically. We turned a corner about two months ago, after two years of hard slog.

That's only my own opinion, others might disagree and have their own advice.
     
dillerX
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Jul 27, 2006, 03:09 PM
 
^ best advice ever.
I tried to sig-spam the forums.
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StandardVC
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Join Date: Apr 2007
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Apr 23, 2007, 07:05 PM
 
There's an excellent article in the May 2007 edition of Entrepreneur magazine regarding the use of Venture Capital databases to find investors for your company. BuzzLogic credits the Growthink Research database for helping it find investors for its $9.6 million Series A funding round which closed earlier this year.

http://www.entrepreneur.com/magazine...ay/ 17709.html
     
   
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