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Striving to be a successful entrepreneur

Discussion in 'Introductions' started by Alec Mosher, Dec 8, 2015.

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  1. Good evening everyone,

    My name is Alec Mosher, and am new to the site. I have created a new product involving new technology to the game of golf. It is an app based information system to help golfers track their ball and collect vital data.

    One area I am looking for advice/tips/help/investors is in the funding stage.
    As a company we are looking for roughly 200k and about half of it has been raised.
    Any entrepreneurs out there who could give me some help in this area it would be much appreciated.

    Glad to be a part of this site, look forward to making new connections through the site.
    Have a great evening.

    -Alec
     
    dyanmarie25, T J Tutor and K like this.
  2. Brian D. Evans

    Brian D. Evans Member

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    What is the current stage of your project? Do you have a prototype or published version already? Are you in the idea stage? Users and revenue?

    This will help formulate a strategy as to what kind of investors you are going to target. For example, certain categories of investors such as large VC firms are less likely to invest into an idea stage project.
     
  3. EF-Roger

    EF-Roger Member

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    Hello. We are glad you joined us.
     
  4. We have made it through the idea stage and we are ready to launch the project. We have finished 2 sets of prototypes, spoken with many golf retailers, and have all of our manufacturing in place. The only thing holding my back at this point is the funding. I have attempted to reach out to some VC groups. For most it has been to early, they would like to see sales. I am mainly looking for some Angel Investors to jump on board. We have some serious potential and have already began talks with the USGA about approval. 200k gets me an approval, final testing, and sales.
     
  5. Brian D. Evans

    Brian D. Evans Member

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    That's great.

    Yes, you could target angels and angel groups. Are you completely tapped out with friends and family? That's generally the easiest route for 100k at that stage.

    Do you have a solid pitch deck? Do you have a team lined up or any previous track records that you can use to enhance the benefits of investing in your company over something else?

    Is there anything like this out there now, if so, how is yours better? (Will help you formulate investor pitches)

    I would have a really solid pitch lined up with as close to an A+ team of advisors as you can get.

    But, above all else it all comes down to your network. I would network like crazy, just don't act desperate for money. They can smell desperation a mile away and give you a horrible or no deal.
     
  6. Brian D. Evans

    Brian D. Evans Member

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    I work a lot with app marketing, you can feel free to PM me and I'll give you something that might make it easier to raise funds on the app front.
     
  7. I am very equipped to give any type of presentation I can. Over the last year my team and I have spent a lot of time perfecting our financials and pitch to investors. I will be stepping out for a few hours tonight. Send me an email tonight. it is alec.mosher @ gmail.com I would love to hear more about what you can offer.
     
  8. T J Tutor

    T J Tutor Member

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    Hello @Alec Mosher , welcome to EntrepreneurFix! It's great to have you with us.

    Do you have the following prepared?
    • You say you have half raised, is this your money?
    • A Pro Forma
    • Business Plan Executive Summary
    • Full Business Plan
    • Business Model
    • USP
    • Market Analysis
    • Financial Projections

    You may want to get a discussion going in the General Business and Entrepreneurship forum. This has potential, and as @Brian D. Evans has pointed out, a little guidance may be what you need to roll this out.
     
  9. William Clements

    William Clements Moderator Member

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