Sean Haddad
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- Joined
- Jun 8, 2016
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Hey all, I have a question for you successful entrepreneurs: When starting a new business venture that requires a lot of capital to get started, how do you raise that money? Do you invest in it yourself? Crowdfund?
Backstory: me and 2 of my cousins had an idea for a service that would be sold as a subscription to businesses in order to get them more engaged customers. Creating the MVP required $100k. Considering my partners were still in school and living at home, they could not afford this. We spent a long time convincing a business owner in our family to invest (he's very old school, doesn't understand tech). Almost literally the day after convincing him, he finds out another big and established company is doing something similar. So he backs out.
Over the next year, we went through various sources but no dice. Now, I am at a point where in order to proceed with an idea, which I believe is still viable, I would have to invest in it myself with my own money.
I question whether it's a smart thing to do, but the potential for success is great. I'm not looking for advice or suggestions really, just some personal accounts of people who have had this experience before.
Thanks
Backstory: me and 2 of my cousins had an idea for a service that would be sold as a subscription to businesses in order to get them more engaged customers. Creating the MVP required $100k. Considering my partners were still in school and living at home, they could not afford this. We spent a long time convincing a business owner in our family to invest (he's very old school, doesn't understand tech). Almost literally the day after convincing him, he finds out another big and established company is doing something similar. So he backs out.
Over the next year, we went through various sources but no dice. Now, I am at a point where in order to proceed with an idea, which I believe is still viable, I would have to invest in it myself with my own money.
I question whether it's a smart thing to do, but the potential for success is great. I'm not looking for advice or suggestions really, just some personal accounts of people who have had this experience before.
Thanks
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