Major question

Discussion in 'Growing and Managing a Business' started by chewbacca25, Dec 16, 2010.

  1. chewbacca25

    chewbacca25
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    ok. my friend and i have this idea for a startup business. problem is: we have absolutely zero knowledge on how to do anything entreprenuer like. we know what we want to do, just not how to go about doing it if it is something that can be done...is it possible to find someone with knowledge and money to help us in exchange for equity? we dont necessarily have to "run" the business (because we have no idea how), as long as we at least still partially own it. do angel investors do this type of thing? basically all we have is an idea with no practical knowledge on how to make it work, or even if it will. we are in the process of a business plan, problem is after that we are kind of lost. thanks for any help :confused:
     
  2. Alexishost

    Alexishost
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    Would you tell us more what your business is about , so we can give more accurate answer? chewbacca25?

     
  3. chewbacca25

    chewbacca25
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    more info

    :cool: Hello, and thank you for the opportunity to lend a hand. I believe my main question lies in the area of "knowledge." My friend and I have an idea for a price comparison website, such as expedia, but geared towards a different target market.
    Basically, our thinking is this: there are "clients" (business owners) that require the services of certain established companies. By "clients" I mean small to large businesses that these companies do not currently provide service to (although mostly smaller, growing companies that have yet to procure services). These companies are in constant competition with each other to retain these client accounts. We believe that through marketing traffic to our website, we could lure these potential clients (and even existing ones) to our site before making a decision on which of these various companies to choose. The side by side visual comparison we want to establish that is allocated to fit one's specific needs before making a decision is not currently being provided (that I could find) when making a choice on which of these companies to utilize.
    Our site would eliminate the need for the client to research pricing options on their own, as well as providing them with other, lesser known service options. In doing this, we believe that the competitive nature of this market will actually be driven higher (such as discounts, rate specials, etc.) to please the client/consumer and to capture these accounts as well. This, in turn, also keeps them coming back to our site to determine which company is better suited for their ever-changing/current needs. Our thinking is that when clients sign with these companies after being directed through our site, that we would get a small percentage on these accounts as this is potential volume that these companies might or might not have gotten otherwise. Is this how something of that nature would work? Or is there another way? Is this even possible the way we are seeing it?
    The problem is that neither one of us has any clue whatsoever about anything on how to make this happen or if the target companies would even be interested in having our site direct clients to them, as the larger ones are already well established and have their own global marketing strategy. There are, however, a large number of smaller companies that provide the same service in a more localized capacity that we believe are so obscured by the larger companies in this service area that we would be able to draw potential clients to them as well.
    How are these companies even approached for things of this nature? Is our "target market" essentially the companies we are directing clients to, not the clients themselves? I ask this because it is not the clients that we would conceivably make money from, but the companies providing the services themselves that we are directing clients to? This is an unclear area as we do not know how such an idea would work.
    I have spent countless hours researching business plans, angel investors, web design, programmers, your sites' training modules, etc. Our main problem lies in the fact that we do not know how to determine if our idea is viable. In essence, all we have is an idea, but honestly have no conceivable knowledge on how to make it happen. We just do not have any experience pertaining to anything of this magnitude, and truthfully the whole thing is highly intimidating. What are the options (if any) as far as finding someone that knows what they are doing and how to do it (not necessarily for us but with), yet still retain some sort of "ownership?" In other words, how can we get this started without really having to "call the shots" so to speak? Is it even something that CAN be done the way we are thinking, or even legal? We know WHAT we want to do, but not HOW!?!?!?! For instance, say we have a business plan drawn up to present to an angel investment group. Can we/do we use any capital received to hire a CEO or someone of that nature with some kind of knowledge to "take over?"
    Funding is the other main issue, as we have maybe a few thousand dollars at best, and in my mind a well structured, professional business plan to get funding is our main priority, the cost of which will essentially utilize the money we now have. I could possibly put one together myself but would not want to take the chance of missing something critical or misrepresenting any research. My other main concern is that even with investor funding, we would still not know what steps to further take to make this website possible (or for that matter, if it IS possible the way we are envisioning).
     
  4. Mountain Man

    Mountain Man
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    I can see that you are very excited about your idea and that is great. Many people have ideas but no motivation. I do see a few difficulties. First I don't understand who exactly these "clients" will be. What will they be looking to buy? Will you get revenue from those who host on your site? Unless you have a clear money maker, most angel investor want to see that you are taking a financial risk as well as them. Why would they risk their money if you wont? You did say that you have no business knowledge, so the question I would ask is this. Do you have a money making business idea? or do you have a neat idea for a website. The two are very different.
    By the way many manufactures do offer this service. when I search for a product from a manufacture, if I click the "where to buy button" I am given a list of suppliers and often their price.
    I wish you all the best.
     
  5. chewbacca25

    chewbacca25
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    based on the particular area we are trying to get involved in i would say it is a highly profitable idea if the big companies go for it just based on the amount of global success they already entertain. answers to your post mountain man are as follows: there are "clients" (business owners) that require the services of certain established companies. By "clients" I mean small to large businesses that these companies do not currently provide service to (although mostly smaller, growing companies that have yet to procure services). Our thinking is that when clients sign with these companies after being directed through our site, that we would get a small percentage on these accounts as this is potential volume that these companies might or might not have gotten otherwise. thanks for your feedback btw :D
     
  6. Alexishost

    Alexishost
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    Easy way:
    Basicly , you can go to take the easy route.
    1. find ideas what your domain name will be....
    Take your time to do reasearch with this tool and see the competition.
    Then you can register the domain WITH YOUR KEYWORD

    2. Host your site.
    You can find good web host for your business that meet your creteria.

    3. Hire Programmer.
    You may post your requirement in this site.

    More question?
    Feel free to ask.
     

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