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Originally Posted by Colmike7
Would someone like to mentor me, or trade knowledge since I do know a lot and have worked with probably more companies than you know?
The main question I have is, how do you get funding for everything? Do you start small and use what you've earned by commission on affiliate programs then build a small affiliate program yourself then hire employees as that grows, or is it about finding funding up front?  |
Good question. I can only speak from my own experience, and everybody has different ways of doing things. I think people who have a huge idea and spend every last penny and months on wnd working to build something that may or may not take off, are running a huge risk. It's very similar to the.com starts up with the hopes of one day selling to a larger company. The odds are staggering on the side of any single project not taking off. We are very lucky, the barrier of entry in this business is unbelievably low. With A few thousand dollars or less, somebody can get hosting, creative, software and have a little bit of money to test their ideas. I myself usually get involved in projects or ideas that we can test and play with without having to invest huge sums of money. I prefer ideas that can be tested small in scal I prefer ideas that can be tested small And scaled up. That's not to say that we haven't purchased larger companies and networks, we have, but I prefer being in a situation where if anyone idea doesn't take off or work well then so be it. I like to keep things at the level where if we lose 100% of the money testing something it doesn't affect the company as a whole. Don't keep all your eggs in one basket, and always keep you ideas and things in the pipeline. I've made the mistake of having projects running that were making huge sums of money and sitting back and getting comfortable. The problem is, nothing last forever, and if you get used to making a certain amount of money and that project takes a big hit for one reason or another you find yourself scampering.
As for funding, if you don't even have a small amount of money to get things rolling, aside from the usual asking friends, relatives etc., the Internet has made small loans for project funding pretty unbelievable. I'm NOT talking about kick starter, well you have to sell somebody on your vision, I'm talking about companies like Peerform etc. check them out. There are more than a few. i've actually invested in a few of them on the lending side, very interesting stuff