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    14 Replies Latest reply on Aug 6, 2008 3:40 PM by WarrenD

    Money Hungry

    LWill78 Wayfarer
      I was reading over a previous post on this forum and it kind of disturbed me. Maybe it was because I am one of the "guilty". The forum about the money hungry hi-jackers per se. I would like to say that I feel that no matter how much GREAT advice I receive from people... that it will get me nowhere if I do not have funding. You can have the business savvy and still get nowhere with no funding. You may have the next greatest idea, invention, etc and it will get nowhere if you have no funds. There is a lot of advice you can receive over the net.. it is majority the same advice you will receive from your local sbdc, sba, and score.

      If you would really like to help and give me some advice, help me with someone who can help me build my business credit, trade sources, a excellent place that will help with starting business credit. Someone who offers net 30 invoicing and reports to the credit companies. If you would like to help, I need resources.
        • Re: Money Hungry
          MnlyTechnlgy Adventurer
          LWill78: I apologize if our discussion disturbed you and we in no way meant to come off sounding like that. I think the topic has validity in that the Forum topics are designed for people to post where the appropriate "helping hands" are most apt to go first (i.e. advertisers or advertising people typically will check the Advertising and Marketing topic) to see if they can offer any advice or help someone. If the Forum could place a Funding Advice or Funding topic, I think it would better serve those people, like yourself, who are here looking specifically for that type of advice.

          I can certainly relate to your statement "you can have all the business savvy and get nowhere without funding" as we started our small business on our own funds, based on our previous personal credit history - but we knew we had what it took to make a viable business work and turn a profit. This forum certainly has its fair share of funding advice ... we just want to suggest to the SBOC Community that they might look into creating a specific forum topic which might get your questions and "pleas" (excuse the expression) for advice answered more expeditiously and professionally.

          We do care .. trust us. Hope this clears up any misunderstanding.

          Deb L
          1 of 1 people found this helpful
          • Re: Money Hungry
            Favour Newbie

             

            Hello,

            i am interested in funding your project as long as it is worth it.
            Can you kindly email me with more better details as regards to it for my perusal
            and more.
            Email me:db1700@yahoo.com

            Kind Regards,

            Mandy
            1 of 1 people found this helpful
            • Re: Money Hungry
              mademan24 Adventurer
              LWill--- Give me a call and I would love to chat with you about business credit strategies for your business model.

               

              Cheers,

              T.Michael

              619-518-9985
              1 of 1 people found this helpful
              • Re: Money Hungry
                LWill78 Wayfarer
                To All That Have Responded,

                I would like to thank you honestly. I did not want to come off sounding bitter. I am here to look for resources honestly. A investor would be a added bonus. Right now I am concentrating on building my business credit.....

                Thanks
                • Re: Money Hungry
                  Lighthouse24 Ranger

                  There's a difference between walking into your local private airport and saying, "Give me an airplane!" versus saying, "I'd like to learn to fly."

                  To me, your post (LWill78) says, "I'd like to learn to fly" -- i.e., you seem to be looking for connections, resources, insight, and help from people who already have planes and are flying them successfully. I think almost everyone in this community who owns a business is excited when a new member joins with that approach, and most truly try to assist with information and answers.

                  A lot of so-called "money hungry" posts, however, are the equivalent of "Give me an airplane!" The person acts as though the only thing between them and flying is the lack of a plane -- as opposed to the fact that they don't know the first things about how to fly one. They insist on having the airplane first, then they'll think about getting a pilot's license -- which is exactly why so many new businesses "crash."

                  Just as a person can't borrow (rent/lease) an airplane without a pilot's license, legitimate lenders and investors won't give someone money unless that person can demonstrate that he or she has the knowledge, skill, and experience to manage a business operation, responsibly handle the finances, and bring in a substantial profit. There are a lot of posts where people tell you outright that they can't do any of that. So while the message or advice may sound harsh at times, it's realistic -- learn to fly (i.e., get a job, control spending, pay off bills, gain relevant experience, fix what's "broken" in life) -- and THEN ask for the airplane.

                  P.S. $759,045,600 -- as of today, that's the total amount of money requested in the 549 posts on this site that are seeking loans or outside investments to start or expand small businesses. Just to put those numbers in perspective, Bank of America was the leading 7(a) small business lender in 2007 (source: NAGGL), and they loaned $335,728,500 to 10,878 small business owners last year under the program (source: Annual Report).
                    • Re: Money Hungry
                      Iwrite Pioneer
                      Lighthouse,

                      This was a great response!

                      I still believe that if a guy can convince 70 friends and family members to provide him with the $10,000+(that's roughly $143 per person) to enter the World Series of Poker (saw that last night), then we should be able to get more creative in finding ways to generate the capital we need.

                      I applaud folks for being brave enough to ask. I hope they are getting the help they need.

                      That number for the amount of requests is amazing!
                        • Re: Money Hungry
                          LWill78 Wayfarer
                          lol..... well that guy must know 70 ppl that have 143 to invest. with the way economic times are I will barely ask for $10 lol. most of my family are living check to check or even worse... so I decided to step out on my own.
                            • Re: Money Hungry
                              Iwrite Pioneer
                              I thought the same thing. But what if you brought them together and presented your business plan, answered questions and let them tell you if they could do something and how much? They might surprise you. And even if you only got a little, wouldn't that be more than nothing?

                              Here are the ideas that I have heard of:
                              • Websites where people have gotten folks to pay-off their debt
                              • Movie directors financing movies off of family/friends and credit cards (Spike Lee, Robert Townsend and the brothers who produced Warriors of Virtue)
                              • The church on the East coast that put together a fund to get members out of debt
                              • A group of friends who formed a micro-lending group to help revitalize part of the inner city
                              Surely, we can adapt a version of one of these ideas to generate some fund? Or come up with our own solutions.
                        • Re: Money Hungry
                          readytohelp Newbie
                          ok, here you go. i have several resources to help you with your money issues. these guys range from private lenders, hard money lenders, to smaller banks and credit unions. if you are interested in an introduction email me back. they are real easy to work with.
                          • Re: Money Hungry
                            readytohelp Newbie

                            sorry forgot to tell you how to get in touch. i do have real resources that can fund just about any deal you might have. email me at atlnrgroup@gmail.com
                            • Re: Money Hungry
                              WarrenD Adventurer
                              Did you find funding? Warren