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Contacting ex boss for investment (your opinion matters)

Discussion in 'BlackHat Lounge' started by AnotherOne, Aug 16, 2016.

?

Should I ask for investment from him?

  1. Yes

  2. No

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  1. AnotherOne

    AnotherOne Senior Member

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    Hello guys,
    Do you think it's a good idea to contact my ex boss for investment? I left the job less than 1 month ago and my employer still holds my experience letter and other letters.

    The guy is technical and running a big (product based) software house.

    EDITED:
    1. Left the job to start a company.
    2. I left the job on good terms.
    3. The investment is not gonna be very big for him.
    4. My idea/products are unique and there's a very big market out there for my products (saying this after proper research).
    5. I am planning to give him a fixed percentage or some shares.
     
    Last edited: Aug 16, 2016
  2. ArunaMakak

    ArunaMakak Newbie

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    Not enough info
     
  3. AnotherOne

    AnotherOne Senior Member

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    Let me know your question so I can add the answer of it.

     
  4. ArunaMakak

    ArunaMakak Newbie

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    Mainly if the investment would benefit him / his company
     
  5. AnotherOne

    AnotherOne Senior Member

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    Of course, it'll benefit him in terms of money.

     
  6. loedown

    loedown Jr. VIP Jr. VIP

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    If you can do it without an investment go that route, nothings worse than having to report to someone.
     
  7. lorentzo

    lorentzo Jr. VIP Jr. VIP

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    Im doing something like that...

    I was his main man..and after 3 years i quited the job...after 6 months i was contacting him and i maked one proposal.

    He was ok with it, we are still parteners theese days.

    be aware, bosses have more experience in businesses and they will try to rip you... carefull with money and taxes.
    \Good Luck
     
  8. AnotherOne

    AnotherOne Senior Member

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    It can't be done without an investment.



    Thank you for the advice!
    I was planning to write/accept everything on paper.

     
  9. asap1

    asap1 BANNED BANNED

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    Its not enough info for anyone to give a good answer. All we know is he was your boss.

    But if you feel like he will be interested then ask him.
     
  10. AnotherOne

    AnotherOne Senior Member

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    Post your question. I will try my best to answer it in details.

     
  11. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    1. Why did you leave your previous employer?
    2. Did you leave on good terms?
    3. How big is this investment for him?
    4. Why do you think he should invest in you (Don't say "Because he'll get money")?
     
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  12. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    Also:

    1) What is your favorite color?
    2) What are your thoughts on the movie "Cool Runnings"?
    3) Does cilantro taste like soap to you?
    4) Have you ever been to Morocco?

    Please answer in detail. Thanks.
     
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  13. AnotherOne

    AnotherOne Senior Member

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    Thank you for your input.
    Here are the answers:
    1. To start a company
    2. Yes, I left the job on good terms
    3. Not very big for him
    4. My idea/products are unique and there's a very big market out there for my products (saying this after proper research).


    1. Depends on mood
    2. Never saw that movie nor heard of it's name ever
    3. No, I somewhat like the taste of it
    4. No, but I heard a lot about Casablanca and Marrakesh
    Should we move to some serious questions now instead of playing?

     
  14. Tumer

    Tumer Newbie

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    Yes
     
  15. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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    Explicate.
     
  16. TheNumbersGuy

    TheNumbersGuy Junior Member

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    I got a few of questions:

    What are you getting out of your ex-boss besides his money (experience?)?

    Would this be something he would help you with or simply a loan (could you get a loan from someone else?)?

    Do you get along with your ex-boss?
     
  17. 1morenoob

    1morenoob BANNED BANNED

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    An idea? You better hope its a fuking good idea, I have 5 good ideas per week.
    How much money is it you want from him for what % of your business? And is it a loan to the business or a gift?

    If you have a decent turnover, a good customer base and are showing profit (atleast operative profit but preferably gross or heaven forbid even net) then 99% of investors will bend over for you while you write the number you want on their checkbook.

    An idea? Doubt it. How have you conducted market research? A 'very big market' for your 'unique' product seems unlikely.
    You seem to be 100% sure that this idea will make him money too, do all the market research you like but until you're open for business theres still a decent chance it will fail.

    As a side note why are you so keen to get unique products? Bollocks to that, copy someone else's 'unique' idea after they've already proved the concept, improve it if possible and market more effectively (assume this is your strong point) than them and you bank.
    Unique ideas obviously have their advantages but too much risk for my liking
     
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    Last edited: Aug 16, 2016
  18. AnotherOne

    AnotherOne Senior Member

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    Yes, I want to use his experience and (not necessarily) links to businesses.
    I can take loan from bank but I am not into loan and interest.
    Yes.



    Approx 100k for 15-20% of my business.
    Any product can fail in any stage because no one knows the future.
    One of the product in our bag has already made people millionaire but till today no one did what we want to do with it.
    Unique products usually carries more risk but if you hit at right spot it will fill your bank quickly.

     
  19. 1morenoob

    1morenoob BANNED BANNED

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    That means you're valuing your business with no sales 500k+, not going to happen
     
  20. TheNumbersGuy

    TheNumbersGuy Junior Member

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    Yea, that is quite a steep price for your company especially if you have no sales to back it up.