Discussion in 'Investments' started by Joe, Dec 9, 2015.
What are some good sites to find angel investors and business entrepreneur mentors?
Hi! I would recommend these sites:
1. Angels Den
I hope this sites can help you with your funding needs. And good luck with whatever your business idea is. I hope it works for you.
Thanks brianna! This site is a 1/5 chance that someone will reply to a post. I'll look into it!.
A business entrepreneur mentor, interesting concept. As far as I know, there is no such thing. If you are looking for a business mentor, well, this is the type of thing that is earned and not bestowed upon someone because they ask for it. Mentors seek out specific individuals that have promise and a history of successfully anchoring themselves in an industry with specific skill sets that can be built upon.
As for Angel's, well, the third and fourth quarter of 2015 showed a 30% reduction in late stage startup revenues generated by Angel's which means they aren't looking for any new faces right now. As for early stage investors, it's business as usual when it comes to finding availability, however, they have adopted a cautionary posture and aren't considering very many opportunities with annual revenue projections under $100MM at the moment.
Are you ready for an Angel Investor? If all you are selling is an idea, you'll have no chance whatsoever. If you have a product ready for, or in the process of, being patented, then you may have a chance as long as you have a business plan and market research completed.
This is crap, our average responses are far higher than that, engagement is almost 100%. The only portions of this community that do not receive responses for most all posts is the General Lounge and the Buy/Sell/Trade forums. All other forums here have high levels of engagement. I just did a count of the most recent posts going back to the first of the month and all but three posts outside of the Buy/Sell/Trade and General Discussions lounge were answered.
If you don't like the answers you get, or the lack thereof, maybe it's the questions you ask or the way you ask them. Claiming that members here can only expect one in five new threads to get a response is inflammatory, inaccurate, and very inappropriate.
If you expect to raise money, then start a thread about your business plan, your product, your market research, and your target market and ask for feedback and recommendations. You may attract a few folks in this community that know how to get you too the next stage of your business development that way.
Slamming the forum with a passive aggressive remark about responses will only alienate them.
You are blowing it out of porportion, it was a simple comment I said in a manner not bashing the site, I'm fairly new and enjoy it. As far as my business the website is next and then a prototype. From there I would want angel investors as of now i would seek funding towards hiring someone to make a perfect prototype of my product and a 3D model to be used on my website. I don't know how to calculate an annual projection. Just the basics of how many I'd have to sell to make 1M in one year(which isn't many). I will learn as I go through my college classes. I'm starting a go fund me and Kickstarter as soon as the website is up and running.
It would be of greater importance to jump on getting a prototype representation complete, then a physical prototype, then a site. Or do all three at the same time.
When it comes to preparing an idea, one can work with several projects at the same time. Learn to be a multi tasker. Entrepreneurs don't waste time. We all have several businesses and we cannot work in a fashion that requires us to do one thing at a time. Time is of the essence and you need to capitalize on it as often as is humanly possible.
You cannot possibly know how many to sell at what price if you do not know the demographics, the target markets, the manufacturing cost, the distribution costs, and the marketing costs.
You are putting the cart before the horse. You have a lot of work to do before you are ready to raise any money.
You need to research all of the components necessary to make this happen. Honestly, would you give someone money if they walked up to you and said "I have an idea and I want you to invest in it. I don't have any money, I don't have any research, I don't have a business plan, I don't have projections, or manufacturing and distributions costs, all I have is an idea and I want you to invest?"! There is no way you would give this person a dime!
You are here in this community because you want to be an entrepreneur. Great! It is time for you to learn what that means. It means you are willing to do what others are unwilling to do. You must make sacrifices like working on your project instead of going out to party with your college mates. It means that you are willing to become a master of research and investigation. It means you will give up anything necessary to make your project a reality. Anything short of this and you are not prepared for the entrepreneurial life.
Listen up, you are young, in college, and have the dream of an entrepreneurial life. This is not a path for everyone. For most it is just a dream. However, for a few others, it is the only path. It has been that way for me. Lots of struggle, lots of ups and downs, lots of disappointments, and loads of late nights and long weekends. Now, that said, the rewards are huge compared to the average business person. People like us don't spend hours and hours watching TV. Instead, we bury ourselves in studying competitors, improving our skill sets, networking with others of the same spirit until we have our new project started and in process. Then we may take a day or two and revitalize ourselves. After Which, we jump right back in to reach the next goal of the project, all while tending to our other projects.
What I am saying here is simple, if you want the big rewards, then you have to go big with your intent, your commitment, your dedication, and your effort! No exceptions! This is our life!
Get your idea on paper.
Everyone you discuss details with must sign a nondisclosure. NO EXCEPTIONS!
Connect with like minded entrepreneurs and find someone with an engineering background to help with a prototype. We may have a few here on the Fix!
Create a few focus groups to get feedback from your target demographic.
These are your first stages. If you need help making each of these initial stages happen, then start a thread in this community and we will help you complete any or all of them. Once you have completed these three, then I will outline your next steps for you including getting the necessary research done to build your business plan and your projections.
Your first few times going through this process will include a heavy learning curve. Do not let it intimidate you. This will all get real very quick and might be a little scary, but believe me when I tell you after a few times this becomes an exhilaration that fuels you and you will become a fearless entrepreneur!
I was going to talk about how I've made calls and try to justify why I don't have a prototype but there's no reason. I haven't been putting effort like I need to be and now I will. I'll post updated from here on out. Whole sale the average lock cost between $3-$6 with parts it may go to 15 or less depending on materials used(ideally I'd want to get the cost to about 10 per lock but I need to do that without sacrificing quality. thanks for your comments, and I'll keep you updated
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