Several startups. Can any of you be of help?

AAnonymous ·February 19, 2018 ·6 answers

I’ve had several startups and many failed or have not taken off due primarily to lack of funds.

I am presently working and have been working all my life since I graduated university but I have this thought of being able to start my own business while still having a regular means of income. Some of the companies I’ve been into were startups and I was able to drive it successfully.

As for my own, I was usually with a few friends together in starting a company. It could be better to start on my own but I don’t have enough funds. I have 4 kids all studying in universities from high school to college. I may avail (this year) of an early retirement from my job as a Manager just to be able to pay up some debts and start a business.

I have a few projects in the pipeline and all will need more funds with one as capital intensive. Here are a few of those projects to share with.

1. Facebook marketing a health product – I’m involved in a team that has now 3 on staff, always on the computer to check and answer queries on a specific product. We need more funding to boost with higher exposure and more inquiries.

2. Software application – I am on a team of 4 that is working now on an application for transport and logistics delivery within our province. We need more funds to proceed for marketing redevelopment of marketing tools and subsidy for some freebie items for the transport group that will carry and use the app with the public.

3. School for kids – this one is my project for my family as a business. It is capital intensive and needs more financial backup. I don’t have contacts for VCs on this venture.

Anyhow, I’m just sharing here (my first time) to reach out for some benevolent people who can help out with my plans.

I am from the Philippines and do not come from a well-funded family. I am a Civil Engineer by profession with a passion for technology – particularly IT and software development – and online marketing.

For those who may be able to help, keep in touch by email and with your replies here. I can show you my profile on LinkedIn and Facebook for integrity and background check. Will ensure to reply. No scams, please.

Thank you for listening to my story. Cheers!

6 answers from the community

AAnonymous· Feb 19, 2018

Your problem is not lack of funds.

AAnonymous· Feb 20, 2018

If you don't have enough funding for one project, why are you focusing on three?

Lack of funding isn't your problem, it's lack of focus. Pick one project that you really believe in and do everything you can do make it work. Stop looking for the seemingly easy option which is to find funding. Instead, commit to an organic approach through social media or SEO and grind until you get the leads and recognition that your business needs to take off.

AAnonymous· Feb 23, 2018

Agree, lack of focus. I'm still working for a company, my employment as source of funds. Funding is still needed like boosting a marketing campaign for more leads and exposure. Thanks.

AAnonymous· Mar 2, 2018

I agree about finding focus.

Another suggestion that is much easier said than done: quit your full time job as soon as you can and focus 100% of your time, energy, and money on one venture. It is often said, in so many words, that the life of an entrepreneur begins the day you don't receive your next paycheck.

Regarding funding, unless you are projecting revenue in the hundreds of millions within 5 years of your launch, most VCs aren't going to be interested. But you don't need VC money to be successful. Look for ways to bootstrap growth.

And if you truly need a large cash infusion, consider cultivating a relationship with your bank. Although it can be difficult for a startup to get a bank loan, it does happen.

AAnonymous· Mar 3, 2018

You need to first learn how to run a successful business. Look into something really basic or purchasing a franchise. When you start making 25% or more, you've learned how to run a successful business. Then you can take these fundamentals into whatever else you want to do.

AAnonymous· Mar 15, 2018

You could try some e-commerce to bootstrap from.

We started with virtually nothing 2 years ago. Now we make a living with t shirt print on demand.

We also thought we need funding. By bootstrapping we found freedom.

Several startups. Can any of you be of help?

6 answers from the community

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