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    5 Replies Latest reply on Apr 15, 2008 11:30 AM by LUCKIEST

    Advice

    Laosson Wayfarer
      Hello everybody,

      I'm a filmmaker with over 30 credits to my name: http://imdb.com/name/nm2419234/ and I need some advices.

      My problem:

      I decided
      a few months back to start up a web design and software development company, I did this because of the long wait time between investments for my films and I needed something to do.

      Business is going great, but thats the problem. I'm getting a onslaught of jobs from clients needing website and web apps design and developed.

      Each job ranges from $200 - $3k with development time of 1 - 25 business days, I could really boost productivity
      with a Minimum
      work force of 3 people. Keep in mind this is only a two month old start-up.

      I think I would require a loan of $17,000 these are funds that we need
      to provide the capital to run my business for the first few months and to help with expansion into new services like animation, video, etc also to allow us to get a retail space and start marketing to the Greater Memphis Area..
      This
      capital will fund three employees payroll and equipment/supplies to get them
      started. It will cover business expenses for a few months until our cash flow
      takes over.
      I just started last month and I already have 5 clients with on going work and two to three new clients every week...

      I need to get a loan or such to hire some people to help me out so I can take on more jobs.
      So I need some advice on how to apply for a loan from Bank of America. I have a poor credit score (567), but I'm working on fixing that now (will take about 6 month to get my credit on the up).

      I'm looking to make this business a success so I can have something to fall back on when waiting on investments.

      • Lao
        • Re: Advice
          DomainDiva Ranger
          Why don't you try partnering with another designer for a short time as well until you get things where you want them? That way you would have an interim solution to your manpower issue.
          1 of 1 people found this helpful
          • Re: Advice
            LUCKIEST Guide
            **Advice, Welcome to this web site and welcome to the real world of business.
            **It sounds like you found an interesting nitch, with Business going great, but thats the problem.
            *and it is a great problem, getting a onslaught of jobs.*<br /<br />DomainDiva has an interesting answer, Why don't you try partnering with another designer.
            Another solution might be talking to other classmates that could help.

            Do you know about SCORE. SCORE is FREE and they help you develop both a Business
            and Marketing Plan and can help to make this business more successful.

            LUCKIEST
            1 of 1 people found this helpful
              • Re: Advice
                Laosson Wayfarer
                Thanks for the advice __

                I have been outsoucing to over seas firm, but I don't like doing that. There development time is so slow to me.

                I have made one other business sucessful my film production company (www.KazzuriePrictures.com) which has production 6 films under our company brand.

                I have two films that are getting investments, but thats about 2 months off, I have a business plan and marketing plan already (stand up for 24 hours and wrote it up).

                Who is score?
                  • Re: Advice
                    LUCKIEST Guide
                    You asked about SCORE. SCORE is FREE
                    Both in person or on line. SCORE goal is to help you succeed.

                     

                    SCORE "Counselors to America's Small Business" is a
                    nonprofit association dedicated to educating
                    entrepreneurs and the
                    formation, growth and success of small business nationwide.
                    SCORE is a
                    resource partner with the U.S. Small Business Administration (SBA).

                     

                    SCORE is headquartered in Herndon, VA and Washington, DC and has 389
                    chapters throughout
                    the United States and its territories, with 10,500
                    volunteers nationwide. Both working and retired executives and business
                    owners donate time and expertise as business counselors. SCORE was
                    founded in 1964.

                    We are America's premier source of free and confidential small business advice for entrepreneurs.

                    Again LUCKIEST