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Re: Million Dollar Advice
[Re: fastlane69]
#207626
05/21/08 08:52
05/21/08 08:52
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Joined: Aug 2006
Posts: 652 Netherlands
bstudio
User
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User
Joined: Aug 2006
Posts: 652
Netherlands
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So, you want advice on how to pursue investors into investing in your project?
BASIC programmers never die, they GOSUB and don't RETURN.
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Re: Million Dollar Advice
[Re: fastlane69]
#207634
05/21/08 09:52
05/21/08 09:52
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Joined: Mar 2006
Posts: 3,538 WA, Australia
JibbSmart
Expert
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Expert
Joined: Mar 2006
Posts: 3,538
WA, Australia
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be careful what you wish for.
one who chases two rabbits at the same time will lose both.
a bird in the hand is worth infinity x however many are in the bush. except pigeons and seagulls.
don't go out with the same girl twice, especially if you're the one who broke up with her in the first place.
look both ways before crossing the street.
the right side of the road is not the right side of the ride (unless you live in the US, which you do).
choose your subjects early so you don't have to live with a terrible timetable all semester.
never put your phone in your pocket to do something while a loved one is on the other end -- you WILL forget.
a7 is teh 1337 ub3r rule.
sell lots of copies of futur-e-scape.
that's all the advice i can think of. while i'm in a thought-searching mood, i'm wondering: was i the only one who originally thought "runescape" was "run-escape" and not "rune-scape"? DON'T ANSWER UNLESS YOU'RE GOING TO STICK TO THE FORUM TOPIC FIRST!!
oh yeah, one more piece of advice: DON'T USE CAPS-LOCK!
julz
Formerly known as JulzMighty. I made KarBOOM!
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Re: Million Dollar Advice
[Re: fastlane69]
#207675
05/21/08 16:32
05/21/08 16:32
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Joined: Mar 2002
Posts: 1,835 Minneapolis, Minnesota, USA
Nardulus
Serious User
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Serious User
Joined: Mar 2002
Posts: 1,835
Minneapolis, Minnesota, USA
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Hi Fastlane,
1) Simplify your pitch down to the core tech / biz they will be investing in.
2) Show very clearly use of funds.
3) Show even more clearly the payback schedule.
4) Make sure that you have a product that is complete and ready for market at the end of the investment cycle. Or be clear this is phase one funding and phase two will be needed. The multiphase investment is harder to sell to investors.
5) Show distribution agreements, portal agreements, revenue partnerships.
6) Harvest value of IP and exit stratgey for the investors, need to be clearly spelled out.
7) Smile alot, be honest, control enthusiasm.
8) Put yourself in their shoes, and evaluate the oppurtunity and risk, and finally what is a reasonable reward.
Good Luck, been through this many times.
Ken
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Re: Million Dollar Advice
[Re: JibbSmart]
#207696
05/21/08 18:06
05/21/08 18:06
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Joined: Mar 2003
Posts: 5,377 USofA
fastlane69
OP
Senior Expert
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OP
Senior Expert
Joined: Mar 2003
Posts: 5,377
USofA
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was i the only one who originally thought "runescape" was "run-escape" and not "rune-scape" LOL The day people start googling run-e-scape, I'll be a happy man! LOL
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Re: Million Dollar Advice
[Re: fastlane69]
#207720
05/21/08 21:08
05/21/08 21:08
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Joined: Mar 2002
Posts: 1,835 Minneapolis, Minnesota, USA
Nardulus
Serious User
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Serious User
Joined: Mar 2002
Posts: 1,835
Minneapolis, Minnesota, USA
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Is number five what would be labeled "strategic partnerships" or some such?
Yea, basically, strategic partnerships is a little bit wishy washy for me. IMHO its more a legal contract term than a PPM or biz plan term. I would use words that power up that section with terms like "Distribution Contracts", "Sale Mechanisms", and such. Most investors will not invest in production of a good and not have a sales plan and or agreements in place. Banks lend money for Accounts Recievable or sales contracts. Since you do not have that yet, your investors need to get as close to this requirement as possible, the farther you are away from this assurance the more its going to cost you in equity. How many companys have been able to build great products, but failed at finding a way to get the product to market and create a revenue stream. Ken
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Re: Million Dollar Advice
[Re: Nardulus]
#207837
05/22/08 15:18
05/22/08 15:18
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Joined: Aug 2002
Posts: 681 Massachusetts, USA
Ichiro
User
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User
Joined: Aug 2002
Posts: 681
Massachusetts, USA
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Any advice, pretty please?I'm here because the 3D engine was $900, so my advice would be: ask someone other than us? ; ) (Ken excluded, of course!) I'd approach this the same as for anything else: find someone for whom this is old hat, pitch the idea to them, and listen to their feedback on what you need to do to smack your pitch into shape. If your network doesn't include such people, go on and find 'em! One good place to start might be SCORE ("Service Corps of Retired Executives").
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