Re: FN-FORUM: Business funding for under 18's

date posted 25th March 2008 15:12

Assuming your business plans are in website development...

James, funding for a Web based business start-up is an essential fallacy.
You may care to re-adjust, for any provider of funds will bring pressures
that interfere with your ambitions and quality of life. Funding, for
start-ups, is mainly for stock, machinery and materials.

I suggest you first get a good "shop window" website to show your abilities.
There are people here who will give you good critical advice until you get
it right.

Next, get a mentor: someone with experience who will offer friendly
direction and criticism. Not a family member (too close and partial).

Next, make a business plan that includes the who, what, when, where, why and
how of your intentions. Include something of your ultimate ambitions.
Produce a detailed cash flow and profit and loss forecast as an appendix to
the plan. Emphasise the strengths, weaknesses, opportunities and threats
(SWOT) of your proposed endeavours. The process of doing all this will
adjust your mind, wheedle out the negative aspects of original intention and
provide a clear path for your business success. It will evolve in time.

Next, make a clear three month plan of how you will get sustainable business
and the time it will take to produce it. Identify the best places to get
business quickly.

Then do it. Never give in.

If you are struggling to get these things in your mind, go walk a mountain
(not a hill). It's like a business - sometimes a struggle, sometimes tiring,
you get thoughts of giving up especially when hurdles are put in your way
(like the weather or rough terrain). The view, though, is great from the
top.

Contact me off list if you want more feedback on various aspects of the
above.

HTH...

Mike A.



From: "James Herrington" [EMAIL REMOVED]
: Hi all,
:
: I'm sure someone here will have some good advice or experience on this
: however looking on google doesn't really reveal anything.
:
: Basically I'm looking into setting up my own business in the not too
: distant future (couple of months hopefully, once the exams are over :))
: and ideally i'd need to get a small amount of funding to do so. I don't
: need a huge amount however obviously I can't get funding from a bank or
: other conventional routes. Just wondering if any of you have any advice
: or ideas?
:
: TIA
:
: James
:
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