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Old 06-09-2018, 03:43 PM
 
Location: Silicon Valley
2,807 posts, read 1,234,882 times
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Quote:
Originally Posted by SailCT View Post
Forget friends & family, that is not a good idea. It does usually cost $$$ to get to a Minimum Viable Product.
For the software related business I have figured out and completely drawn-up it will cost at least $300,000 in development costs and no banks will lend that with $0 revenue. I am not a techie, not a coder so I need to pay for that work to be done either by hiring people as employees or by off-shoring it. So any suggestions?
You need a solid coder on your team, which is going to take a lot of equity, or otherwise nobody can trust your idea. Even with lots of collateral if I say I have a new neat concept for a zoo, anyone will look at me and say....but you know nothing about zoos...and it will die right there. Of course, I'm free to use my own money on whatever I please, but if you don't have the money, then you're stuck.
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Old 06-10-2018, 07:54 AM
 
3,321 posts, read 2,361,546 times
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Quote:
Originally Posted by artillery77 View Post
You need a solid coder on your team, which is going to take a lot of equity, or otherwise nobody can trust your idea. Even with lots of collateral if I say I have a new neat concept for a zoo, anyone will look at me and say....but you know nothing about zoos...and it will die right there. Of course, I'm free to use my own money on whatever I please, but if you don't have the money, then you're stuck.
Good example with the zoo.

Even if you have the money, there's no guarantee the business will get to a point where it will launch or ever make money. The concept has to be one that the public wants. My daughter lost a ton of money on a business developed with her fellow MBA students and professors. It sounded good on paper but didn't work in real life. Her husband was working with a start up funded by well known investors, it also could never get the corporate customers to sign up.
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