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LETS GET DOWN TO BUSINESS.

Question :
How can I get funds to start a website that advertises businesses via a directory where each business has a profile page, where people can then post advice, tips and links to a busineses profile page, where if the business likes the post the person who made the post gets a share in the advertising revenue?  Businesses will pay a fee to advertise.  75% of the advertising revenue will go to the people who make liked posts to the profile pages of businesses. This idea will create exposure for businesses as well as provide research and development benefits.  People will also be able to make money helping businesses with their research and development.  https://www.facebook.com/Eco-Global-1111710535555422/

Question submitted 26/04/20 @ 05:17pm
Industry: Brand & Marketing
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  • Hey there. I suggest you take a moment to fill out this: https://leanstack.com/leancanvas so you can really get clear on what problem you’re solving and for who. Clearer you can be, the easier it will be for others to jump on board and help.

    I would start by developing a pitch deck / document that outlines the following:
    – what you do
    – example of your tech
    – size of total addressable market (TAM)
    – your competition
    – your unique selling proposition (USP) aka your secret sauce
    – your traction / customers
    – your model
    – your revenue to date
    – your team
    – your plan to spend funding and return expected

    Most investors look for a company that has some kind of traction, customers, and revenue. If you’re able to secure a small business loan or funding from friends and family to start your website, then you’ll be more likely to be able to secure investment in my opinion.

    Do you have a website, or a documented business plan?

    Hi there – pretty much repeating what Tim said, but have to stress that you’ll need to be crystal clear about what the problem is that you’re solving, who has the problem AND is willing to pay money to have it solved, and what other solutions you’re competing against. The way you’ve described it, it doesn’t sound particularly unique, but I may be missing something. You probably don’t need funds to build a prototype of the site, which could make it easier to explain what’s unique and different about your solution.

    Great for reaching out and great you are being creative. Tim, Kirsty, and Debra all have some great feedback. It is really important to get clear on your point of difference and what is your sustainable competitive advantage. There are a lot of people starting up similiar concepts right now, so it’s critical you get clarity on ensuring you have a competitive business offering that resonates with your target market and has a sustainable commercial model, before seeking investment capital. The Lean Canvas template is an excellent tool to think about your concept. Go well!

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