A recent project I've been working on has passed my tests to the point where I am comfortable going forward with it. But I'm looking to go big so I'm looking secure around 500k-1mil which would give me the required capital for hiring employees and covering overhead for one year at which point I expect to be running a profit. I could get a loan for the 500k range but I would prefer having a mentor with a stake in the biz helping me.
I've done some google searches for research and have come up with some good stuff, but I'm always looking for more advice.
I've got a pretty solid biz plan written up, it just needs some editing and formatting before I make it official. Conservative estimates put the possible profit around 150mil annually (thats for 100% market share) with the ability to expand to other industries which would increase that. Overhead would only require a small office building, small group of employees (starting with 3, scaling up to around 10-15 max), no inventory. Competition is light and not well established. I have high confidence that it will become viral in the targeted market. Overall I think it is something that is interesting enough for me at least get a meeting with investors.
So does anyone have any experience pitching to VC/Angels or have experience investing in startups?
How should I go about even getting the meet? Should I go in person and drop off the biz plan with a secretary and just hope it makes it way up through the channels?
Where should I network to get access to these guys? I don't really roll in the circles of cats who can drop a million on an idea.
What terms can I expect? I'm already willing to give up a share of the company in exchange for the funding, a well connected parner, and a mentor...but how much of a chunk do these guys typically go for?
These guys get approached all the time, its like a blonde 10 sitting in a bar in Jersey, how do I position myself above the noise?
I've done some google searches for research and have come up with some good stuff, but I'm always looking for more advice.
I've got a pretty solid biz plan written up, it just needs some editing and formatting before I make it official. Conservative estimates put the possible profit around 150mil annually (thats for 100% market share) with the ability to expand to other industries which would increase that. Overhead would only require a small office building, small group of employees (starting with 3, scaling up to around 10-15 max), no inventory. Competition is light and not well established. I have high confidence that it will become viral in the targeted market. Overall I think it is something that is interesting enough for me at least get a meeting with investors.
So does anyone have any experience pitching to VC/Angels or have experience investing in startups?
How should I go about even getting the meet? Should I go in person and drop off the biz plan with a secretary and just hope it makes it way up through the channels?
Where should I network to get access to these guys? I don't really roll in the circles of cats who can drop a million on an idea.
What terms can I expect? I'm already willing to give up a share of the company in exchange for the funding, a well connected parner, and a mentor...but how much of a chunk do these guys typically go for?
These guys get approached all the time, its like a blonde 10 sitting in a bar in Jersey, how do I position myself above the noise?
God'll prolly have me on some real strict shit
No sleeping all day, no getting my dick licked
The Original Emotional Alpha