I have a social network project idea that helps people to find their vocations or callings in life.
Investors do not fund ideas. You must prove significant market interest in a product. Statistics that highlight potential don't translate into your product's revenue. Investors want to see how they will get a return on their investment. As for a business plan, be mindful that this is an investment document that in addition to a narrative must contain solid CPA-driven financials. Investors also want to see that you have put more than thought into a start-up before they invest. Need a way forward? I'm happy to assist.
I have worked with people through this as a business strategist and coach, and it depends on how well connected you are. Do you have a large following in person and/or via social networks - especially LinkedIn and/or Facebook?
I would recommend creating at least a PowerPoint presentation about your project, including market research about the demand for it. A business plan is also essential.
I've written and edited hundreds of business plans and pitch presentations over the last few years and have 20+ years high-level media experience. Getting one newspaper or TV reporter on board with your idea could be your personal angel investor, so to speak.
I'd love to help you in a short call. You would leave with four solid ideas, depending on your needs, to get investors for your social network project idea. It sounds fascinating, and I hope to help you make your dream come true soon!
Investors want to know three main things:
- That your offering has a strong market opportunity
- That your business has the right people to make it happen
- That you are smart with money
The first point is the most important, an investor is betting on future success so you have to prove that future is possible.
When building our your business plan, focus on this market opportunity by considering:
- Who is the ideal client and why?
- What does that client want, what improvement in life are they after?
- How is the want being served now?
- How will you better serve that want?
- Why your product will be easy to find and use
- What the revenue streams are and how they will be managed
If you want a mini-workshop on how to understand this information, let me know.
Best to self capitalize, till you're generating profit.
This will give you far better terms from investors.
If your idea is viable, very easy to bootstrap social network platforms.
For ideas, search Clarity for Meetup.com references + use these postings for audience building.
You can also book calls with people providing business design ideas, which seem to align with your personality + income/timeline requirements.