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RE: Pitch Deck for Business Funding: A few Questions to Answer

in Project HOPE4 months ago

Dear @uyobong

Another interesting choice of topic. Solid read.

Thanks for sharing your experience as an entrepreneurs.

However, when ideas are not funded, the impact of an entrepreneur may never be felt.

I also have few years of experience. Maybe not so much as an entrepreneurs but as a small-business owner. Which seem to be quite very alike.

And my impression has been, that sometimes it's easier and faster and less stressful to actually earn and safe money (having regualr job) than to seek for investors. Especially if all we have is "an idea". In that case investors will usually assume that risk is very high, so their cut will have to be very high as well.

I remember suggesting partnership to someone last year. I explained what project.hope is about and I suggested that some % from ph-fund beneficiaries would go to this person and in return I would be financially supported for a year. So I could focus my efforts on PH.

Since at that time this project was still only an general idea - he expected future profits split: 70/30 (70% him, 30% me). Right now if I were to talk to him again and show already working project and explain that I want to scale it - then our deal would be probably reversed (30% him, 70% me).

I would say, that there is no need to seek for investor if our business is just an idea. LEt's always wait until this idea has been proven to work. Let's wait until we would need to scale our business.

Enjoy your weekend,
Yours, Piotr

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Dear @crypto.piotr,
Thank you for this awesome addition. Your comment just inspired my next blog on personal funding.

Since at that time this project was still only an general idea - he expected future profits split: 70/30 (70% him, 30% me). Right now if I were to talk to him again and show already working project and explain that I want to scale it - then our deal would be probably reversed (30% him, 70% me).

This is quite a solid example and I solicit your permission to cite it in my next PH post. It is true that every idea must be proven to be working and financially viable before anyone would risk an investment.

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