Question by snumpkin: …………………………..what should I do?
I have a business idea but lack the funds to see it through. I don’t wanna borrow money so I was thinking if it’s possible to ask the public to invest in my idea, and then reap the profit of the idea according to the amount they invested. If so, how do I go about doing this?
What/where/who should I go to?
Do I have to provide legal docs? And get listed on the stock market?
Ps-its’ only a lifestyle/entertainment kinda idea.
Best answer:
Answer by emerald_mara85
Saw your other question too. Next time just edit it.
Since you’re 18, you’re pretty young so go out and work. After college that is…unless you want to try part-time jobs.
Asking the public or anyone to invest…not during these troubling economic times…and since you’re 18, I don’t suppose you have any sort of reputation that makes people to trust your…instincts.
Since you say its a new business concept, and you ask whether you need legal docs (a business license and it depends on what sort of business level you’re going for would be needed)…anybody can tell you are a total noob at this. Which raises more suspicion to your credibility.
And raises another question, what education do you even have in business? You’re 18, fresh out of high school and that would make anyone stay 20 miles away from you.
You’re not some tycoon’s son or daughter, so don’t expect people to just trust on your word on it.
If you wish to take up business, please do so by going to Uni or college 1st!
Another thing, you may have a good idea…but you may have huge stumbling blocks if you don’t find out sooner. Such as, is it legal (its not one of those pyramid schemes is it?)?, if you have the money…how are you going to carry it out? And these are just the beginning…but the no 1 question is How are you going to convince people to ‘buy’ your ‘idea’? If the idea looks bad in your advertisements…its gonna go downhill.
All these you have to find out…and your idea might be good but is it fine in the finer details? That too you have to find out.
A word of caution, other than gaining knowledge…trust your gut. And no one else. No matter who that person is…like your business partner.
Add your own answer in the comments!
erm, as a total stranger i wont invest with you coz you have no experience, you do not know how to handle business partnership (coz you asked about legal docs) and you do not know head and tail about business. anyway, if you really want to be a businessman, start it small. i mean, get a buy-in from your parents and family, and hopefully they could trust you with their money. use the money to start a small business that will not cause you (and your shareholders) go bankrupt in case it doesnt turn up well.
i like you, coz you have the guts for business at a very young age. but like i said before, people wont simply trust you with their money without seeing your experience and knowledge in the field and prospect of the business proposed. gud luck ^_^