View Single Post
  #7  
Old September 24, 2021, 10:41 AM
GordonJ's Avatar
GordonJ GordonJ is offline
Administrator
 
Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 3,030
Default Before they get the money...no matter the amount...

Just thinking aloud...

A members only website. Small monthly fee. The TOS include Non compete, NDA, and an agreement to take the 101 Entrepreneurial quiz. Sort of an assessment of biz/marketing knowledge.

So, all requests for funding, come from those who have signed off on the whole idea first of all. NOT just net surfers who wander by looking for a handout.

Then, a VIEW FROM THE ROOFTOP, how does the project proceed, what does the Map LOOK like, and what route have you (the seeker of funding) chosen and what obstacles are in the way.

On the Shark Tank, the "contestants" are vetted for entertainment value and a mix of good ideas and real idiots are presented to the viewers, every show has someone we shake our heads at, this is of course, TV at its worse.

With investors, angel, group or VC, they get as much information as they can, and then decide, although at the upper levels, it is amazing to see their choices and we see GREED as a big factor too.

But BOOTSTRAPPERS, who are hungry, may often only need guidance, and their energy channeled into productive activity, someone to be there (like AAA was for the car traveler of yesteryear) when they encounter a detour.

The investor group should have the expertise to send a tow truck (to beat a metaphor) to assist. This insures the investment and gives the Entrepreneur support.

Why would I give any money to someone who doesn't know what a profit/loss statement looks like, or does not have a marketing budget and strategy, vetted and looked at, why would they think they should be funded?

So, steps would be to FIRST get only those members who have agreed to the TOS, passed the entry exam and have a decent VIEW from above and a MAP to get them there.

All that comes from the set-up. Sure, available funding may be the attraction, but the screening process may give the most qualified prospects who can turn a bootstrap startup into an ongoing cash cow.

Again, just thinking aloud here.


Gordon



Quote:
Originally Posted by Dien Rice View Post
Hi Gordon,

I'm sometimes amazed how many small business people know very little about marketing...

I think it's because I've been drinking the "marketing kool-aid" for a couple of decades now... so its importance is so obvious to me...

Anyway, you may have something there!

There's a lot of marketing knowhow missing from many folks... And they don't even realize that it's what they need...

Great insights...

That could change the equation...!

Best wishes!

Dien
Reply With Quote