Need advice for new website funding

vincecvincec Posts: 1subscriber
edited April 2009 in Startup Funding
I have a new website idea and have started creating concept designs and
everything. It`s a completely new idea and a lot of people like the
idea. It could be something that could be huge in the near future if I
get enough support. Though the thing is I don`t have any money at all
to get this thing going. I have created partnerships with a couple
people to program the backend.
I`m also speaking to the domain owner about it. He asked me if I had
investors backing up the project and that kind of hit me. Is there
anyone here who could assist me on finding investors without having to
pay anything.. I really don`t have any money at all right now. Even if
there is anyone who is willing to help out out with the site. I
appreciate it. All partners get a % of future compensation.
What would you guys recommend? I was thinking maybe starting out small.
Just use the programmers I have now to get everything working then
upgrade the site when more people start signing up. I`m new to this
whole investor type stuff.

Comments

  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Vincec,
    As I`ve said several time before on this forum, I am opposed to paying to services with equity, so I won`t belabor that point.
    It`s tough to start and build a business with no money. There are many things that are critical to the long term health and success that can`t be accomplished without some capital - so my advice is determine how you are going to acquire some funds before you begin the business.
    There are a number ways to bring capital into a business, even a startup. The "optimum" strategy for you will depend on the specifics of your personal and business situation.
    If you`d like to discuss your specific situation in confidence - send me a PM or contact me directly.
     
  • avinklineavinkline Posts: 0subscriber
    Vinec,
    I`m curious about the need to purchase a currently-registered domain for the new company.
    Do you feel the domain name you are wanting to purchase is absolutely important to the new company?
  • avinklineavinkline Posts: 0subscriber
    I agree with bvmike. Especially when it`s web based, bootstrapping is the way to go at least until you have something to show investors. I`ve found it difficult to explain the full vision of a web product to investors & users until you actually have something to show them.
    If you need a small amount of capital to get you to the prototype stage, I`d recommend something like The Lending Club http://www.lendingclub.com
  • ChrisBenjaminChrisBenjamin Posts: 13subscriber
    Bootstrap it, you`ll spend a lot of time looking for capital that you most won`t likely get.  Very few people are doing idea stage companies now.  You`ll hear the word traction often as a requirement for funding, and its true. 
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