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Small Business Resources
Hello Warren, I have created and built an online hosting company for talent relating to the film industry. My target market is the general public -- anyone interested in working in the movies. This online system, like a Facebook for movie talent, has taken 3 years to develop and build, and will launch within the next 30 days. The problem is, it has cost much more than I originally thought. Because of this, my cash flow is low, and seems worse with the new economy. I am toying with the idea of investors/partners or government grants/loans. I know this online hosting will work as there are 2 other systems in North America which are very successful and trading on the stock market. Mine is targeting the same industry but with different interests. But it all takes money and marketing. Any suggestions? Where would I find investors/partners ? I have always done everything on my own so I have never run into this problem before.
Hi Sam, There isn't quite enough information here to answer your question as asked. But here are some thoughts. What you are describing is an investment opportunity in a business with no track record, no cash flow and no revenue. To attract investors in these circumstances, you would need to clearly articulate: - a market need (especially in these times); - the way in which your business satisfies this need in a manner that is a) unique b) of interest to your market(s) and c) of sufficient interest that they are likely to pay what you ask; - a financial model that shows clearly how the investment will be returned Often in start ups like this, the investment money comes from friends and family. If there is something very compelling, it may be possible to approach angel investors (individuals with money who like to invest in small businesses). If this isn't possible, then it may require you to apply as much elbow grease to sales and marketing as you did to the creation of the service. There are many ways of developing sales inexpensively. It may take longer, but it can get you there. For instance, social media provide lots of opportunities. One client of mine grew his business virtually entirely from social media. Online, a lot of businesses grow through joint ventures. (Check out www.privatejvclub.com) You can try strategic alliances, distribution of articles, proactive referral strategies and more. You might consider books in the Guerilla Marketing series by Jay Conrad Levinson. Good luck and keep having fun. Warren
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