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Raised $30k For My Lead Gen FinTech Startup, Will Document Progress!

Discussion in 'My Journey Discussions' started by argy owl, Jul 13, 2017.

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  1. argy owl

    argy owl BANNED BANNED

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    I just raised $30,000 for an investor who is flying here on the 17th of this month. I've known him 5-6 years and we met in person. I'm in California but he moved to Washington state so hence the flying part. I've been in Internet Marketing since 2003 and have had very successful endeavors.

    Industry: Finance Technology
    Niche: Loans
    USP: Choosing not to disclose at the moment since we're not incorporated yet until the investor/cofounder comes down and does the deed.

    He has millions behind so if we perform on a small scale then we're going to attempt to scale the business up and reap the rewards and profits.

    Let me know if you have any questions and I'll be sure to answer them. I might disclose USP at a later time, or even soon. Just not sure at the moment. Thanks for reading.
     
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  2. axekicker

    axekicker Junior Member

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    What percentage of ownership is his? Goodluck
     
  3. argy owl

    argy owl BANNED BANNED

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    I wanted to be fair and he's willing to invest into the business in the long term so I gave him an ownership of 49% and 51% for myself (so far).
     
  4. axekicker

    axekicker Junior Member

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    Interesting, a split. Well it depends on a lot of factors and you do know him for a long time, so, hope for the best :D
     
  5. ladyboyboom69

    ladyboyboom69 Regular Member

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    How did you get funding? did you approach him or pitch it? Im in that boat trying to get some funding
     
  6. argy owl

    argy owl BANNED BANNED

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    Yeah. He could be considered a new close friend.

    New close friend who is willing to invest in my ideas.
     
    Last edited by a moderator: Jul 13, 2017
  7. SEO FOX

    SEO FOX Jr. VIP Jr. VIP

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    Good luck with your journey
     
  8. Juneja

    Juneja Elite Member

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    I wish you good luck.
     
  9. sanuras

    sanuras Newbie

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    I'm in, best of luck!
     
  10. randybishop

    randybishop Elite Member

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    not very interesting because lacking details, but good luck
     
  11. argy owl

    argy owl BANNED BANNED

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    I can't disclose our name, our website or details of our business model because it's a new angle and others can easily steal the idea.
     
  12. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator

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    Folks, you can't offer to invest in his company on BHW, nor can he solicit investment capital on BHW as both are against the rules.

    I'd love to allow this thread to remain open so the OP can share the journey but I won't should we see more people asking to invest.
     
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  13. sanuras

    sanuras Newbie

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    I can understand that you are not willing to disclosure your name or other information, but it is definitely not because 'someone can steal your idea'. Ask any businessman and he will tell you that it's bullshit - ideas are worthless, every single one of them, no one would ever steal it or make some kind of damage to you. It's all in the process and your ability to make that idea come true, not idea itself.
     
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  14. argy owl

    argy owl BANNED BANNED

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    I'm protecting other co-founders. Not just myself.
     
  15. boostpro

    boostpro Newbie

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    Good luck with your journey
     
  16. sanuras

    sanuras Newbie

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    Yeah, I totally get it and it's ok. I just wanted to say that no one would ever steal ideas, and you should worry about other things instead of it :)
     
  17. Writing Package

    Writing Package Jr. VIP Jr. VIP

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    It's true that ideas are worthless, but some ideas are very worthwhile to people. If I had given you an idea of how to build an entire, fully functional, autonomous drop shipping business in a very profitable niche - you'd steal that idea in a heartbeat. Execution is very important but a bad idea will always lead to failure.

    That's why ideas can be quite valuable and based on his background - a very strong background in E-commerce - an idea like his may be worth more than you know. Let me give you a real-life example: my friend's professor is an entrepreneur; a serial entrepreneur and a very good one. The only reason why he teaches at a university is that he flies into the vicinity of that area every week to check on his businesses (real estate) and he likes to teach, but he doesn't need the money that comes with it.

    Anyways, he was just like OP and was very good at executing businesses. He came up with a new idea for a business that employs psychologists for mentally disabled people. He went to a group of psychologists and proposed the idea to them. He asked if they'd like to come on and invest in his idea. They said his idea "wasn't good" and shooed him off. Later, he found a competitor company that was executing his exact idea. He would've failed except he had more money than they had and knew how to leverage his resources.

    At the end, he won but after pouring millions of dollars down the drain to kill the competitor that turned out to be those group of psychologists that claimed his idea was bad and later turned around and tried to run off with the idea. All that extra effort was because he couldn't keep his idea confidential when it needed to be. An online forum isn't the right space where you disclose your ideas - especially not BHW.

    Another example is Facebook. Mark Zuckerberg didn't come up with the idea, but a group of other people did and they hired Zuckerberg to work on their idea. Zuckerberg took their idea and executed it very well. Today, we know that stolen idea as Facebook. One of the largest companies in the world that is changing the way we communicate forever because of a stolen idea. (Ok, maybe it's not that simple but that's the best summary I can come up with for Facebook)

    Ideas have value but they are cheap. It doesn't cost anything to come up with ideas, but sometimes those ideas have such high potential that letting someone else know may lead to the demise of huge profits for yourself in a viable business. You never know. Keep those ideas safe and worry more about executing them than the "value" of your ideas.

    As you said, ideas are worthless at the end of the day; execution is what matters.
     
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  18. super11

    super11 Jr. VIP Jr. VIP

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    So wrong.. It's as good as saying no husband cheats on his wife or vice versa.
     
  19. sanuras

    sanuras Newbie

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    So wrong what? Could you back up your opinion, as I have done by explaining that ideas itself are worthless?
     
  20. super11

    super11 Jr. VIP Jr. VIP

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    Agreed, ideas without execution are worthless, but you are wrong by saying that noone is going to steal his idea. There are endless examples of ripoff ideas. Try searching for one, and you will find ten.

    @ Writing Package has already given some examples.

    "Good websites were made, great websites were stolen".
     
    Last edited: Jul 14, 2017
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