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Thread: Need guidance for a big project of mine

  1. #1
    Join Date
    Mar 2008
    Posts
    9

    Need guidance for a big project of mine

    Hi, I'm going to be investing money into a website project I have visioned for a long time. However, I'm new to this. I plan to take out a business loan for this project, so that it can get the wheels rolling and one day complete. The site will be large, like a deviantart.com or soundclick.com kind of big and similar features.

    What I'm wondering is if there is some kind of guide or book that could get me started in the ownership/manager/business role of it. Like I'll be hiring a company to do it, need a loan etc. I just need to know some of the steps to make.

    Any help is appreciated. If you need me to elaborate a bit more let me know.

  2. #2
    Join Date
    Mar 2008
    Posts
    9
    I'm still looking for any kind of help at all, I just need to know where to start. I have the design and concept pretty much planned out. But I don't know the required steps, the people I'll need to have involved etc. I'm new to this kind of stuff.

    Thanks for your time.

  3. #3
    Join Date
    Feb 2009
    Posts
    38

    Cool

    1. If I may give you an advice, I'd suggest you to stay far, far away from any business you're not familiar with - no matter online or offline!

    2. Don't suscribe loans to start a business from scratch; use loans to expand existing and successful businesses.

    3. Run away from people who'll tell you they can do the job.

    4. There are millions of IT guys who can do almost anything possible... They too have brains, creativity and dreams of getting rich and famous the yahoo, google, facebook way. Yet, they prefer to build "silly websites" for customers! Your homework is to try to guess why! =)

    5. If ever you really do try to start this business, I suggest you not to "hire" IT guys but rather to go into partnership. You bring the money, they bring the coding and you guys share the headaches; hopefully the profits.

    In case you decide to stick with your idea, I can introduce you a NYC guy who's been trying to start a similar project for a year.

    PM me to get my MSN if needed.
    Last edited by Mololo; 02-11-2009 at 03:36 AM.

  4. #4
    Join Date
    Mar 2009
    Posts
    4
    i agree with no.4... If they know your darn BIG idea, why would they make it for you! They would have take it and done on their own, giving you a piece of junk.

  5. #5
    Join Date
    Mar 2009
    Location
    Yorkshire
    Posts
    266
    Agreed with the loan point. Apart from anything else most banks will be looking for you to invest the same amount of money in the business that they will be. So if you want £10k from them, they will expect you to have already put £10k in, or are going to.

    At a guess, you dont have the money lying around to match the bank so if you honestly do want to have a go at this maybe looking for alternative funding would be a good idea - just wouldnt get your hopes up if i was you.

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