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    7 Replies Latest reply on Jan 2, 2008 7:43 AM by LUCKIEST

    starting up a business

    efrahm Newbie
      hi, I started up a online business it is for helping local bands sell there music. Customers can downloads music from local bands for a small fee. Efrahm Inc lists thousands of unique, new, in-categories such as
      apparel, music, DVDs, video games, musical instruments, and
      Mp3/Portable Audio. I am looking for Investors?
        • Re: starting up a business
          LUCKIEST Guide
          efrahm, Great way to start a new year. INVEST in a online business helping local bands sell there music.
          Have you developed a Business and marketing Plan??
          How much are you looking for?? How soon and how much do the investors get back??
          Tell us more about yourself (like education and work)?? Do you have a Corp??
          Is this going to make me rich in 2008??
          LUCKIEST
          • Re: starting up a business
            Ranger6r Wayfarer
            efrahm, I'm not very concerned with Luckiest's first questions; only the last one. I really need to know if it's going to make me rich in 2008 before I plop my money down on this sure fire mega drink thingy on another post.

            Seriously though I think you are on to a niche. Very unique. Right segment targeting for an online business. Not being hounded out like everything else, and best of all - sounds legitimate. You know, a real business. It has my interests.

            Luckiest asks the right questions if you are serious about needing investors. Whether formal banking channels or venture capitalist, you have to have at least 2 years planned out on paper (real or cyber) with well thought out numbers. You will need to sell your idea and yourself my man.

            I think you are on the right track with probably the best idea I've seen on this forum in a while. I look forward to others responses as well as yours.

            Good Luck and remember the new triple bottom line "People - Planet - Profits"
            • Re: starting up a business
              efrahm Newbie
              Thank You for all your responses.

              Do we have a Business and marketing Plan?? The answer is yes.

              Do you have a Corp?? Yes, it is filed in the State of Michigan

              About Me,
              I was employed at Fritz's Restaurant as Assistant Manager for 5 years.
              I was President of Hall Senate Michigan Career & Technical Institute for 1 years.
              and more.
              My schooling:
              Michigan Career & Technical Institute
              Frankenmuth high school Diploma
              Saginaw Career Complex

              The big Question is this going to make me rich?Yes
              but, in like all businesses it can fail. I also say, hope for the bast, Plan for the bad

              P.S Yes, I Know the website is rough, I have a team working on the website for month now. The New website is going to be up on 1/20/08.
              • Re: starting up a business
                SpartanWarior Wayfarer
                Efrahm,

                It is great that you got your business up and running. There are many positives in your website. Congratulations.

                A couple of suggestions for raising money.

                A credible relationship or introduction is key to getting any air time with investors. Ask yourself, who is in your network, who know you well and trust you, that can invest in your company? Or who in your network do you have a trusted relationship and THEY know someone who may be willing to invest in your company?

                In addition to questions already asked, be ready with answers for the following questions
                1. What are you going to use the money for? How will doing that benefit the company.
                2. Why is this a good time to invest in your company?

                 

                All the best.

                Chaitanya
                http://blog.chaitanyasagar.com
                • Re: starting up a business
                  LUCKIEST Guide
                  efrahm, Do you know about SCORE. SCORE helps business people (FREE) succeed.
                  You can visit SCORE on line or in person.
                  LUCKIEST