new concept

[jb105101]

New concept idea in Charlotte, NC where the market has never been tapped before and had consistent success. Concept would control the market once opened. Based on concept only seen in New York and California where profits are endless. Looking for investors as well any advice along in the process.

[wygk]

What's your background?

[jb105101]

I have extensive work experience in marketing/promotions in the entertainment venue. (i.e. record company, radio station, event and club promoter) As well as a bachelors degree in International Business. Currently working as an Investment Rep.

[wygk]

Sounds like you have a solid background in marketing and promotion, and good business skills. That's a good start, but you need a lot more.

A great concept gets you maybe 10% of the way to success. It's really execution that counts. And from your background, you don't have the full set of skills and experience you will need.

My advice would be to focus on searching for a partner with solid operational experience.

In the mean time, start work on the business plan. Your partner, when you find one, will have a llot to add to this... but you will need a good plan, with solid financials (with your background you should know what's needed here) in order to bring in investors, and ultimately, to launch a successful club.

[jb105101]

Well I have worked in teh restaurant/bar industry; plus I have ran and managed a bar before as well. So that operational aspect I do know how to run. How can I get word of mouth of my concept of my idea to investors without someone stelaing the idea?

[ministry]

you can't. as soon as you open all of your ideas are there for all to copy.

[wygk]

I've raised venture capital for high tech companies. I can tell yoou that one of the biggest turn-offs for a VC is a guy who is worried about someone stealing his idea. It immediately brands the guy as a newby.

Good ideas are, frankly, a dime a dozen. Investors are investing in your team, your plan, and your track record. Focus on making that story as strong as possible before you approach investors.

[jb105101]

Well I think I my idea is pretty strong. And although ideas like this do come along a dime a dozen, no one's had this one before. Once you've got a strong proposal put together, and you have everything they way you need it; Where's a good source for lookin into startup capital in any city?

[The Event Guy]

Originally posted by wygk
I've raised venture capital for high tech companies. I can tell yoou that one of the biggest turn-offs for a VC is a guy who is worried about someone stealing his idea. It immediately brands the guy as a newby.

Good ideas are, frankly, a dime a dozen. Investors are investing in your team, your plan, and your track record. Focus on making that story as strong as possible before you approach investors.


This is great advise. Great ideas are a dime a dozen so you'v got to keep your idea quiet until it is supported enough to stand on it's own and then make your case with the right investors.

[wygk]

JB, it's going to be hard to find the money... though if you put together a solid plan and a good team, it can be done. The key is networking.

As I said before, my background is in high tech. so my "starting places" may be a little off base for you. Maybe others will have some better leads. But once you start talking to people, they will lead you to other people.

So, the first thing I would do is a Google search for North Carolina Angel Investors. Angels are private investors, as opposed to investment funds. They usually look for high-tech investments, but they may be open to otheer opportunities, or know someone else who is.

Another idea is to get in touch with your local branch of SCORE (www.score.org). They may be able to advise you on sources of funding. They allso have GREAT resources to help with the business planning process.

Anybody else want to jump in with ideas?