These are all-natural emotions, thoughts, and questions to have. TWD has been right there at the very beginning behind the scenes of many internationally recognised websites, services, bands, sports teams, celebrities and much more.
We can offer a reality check like no other, a strategy or blueprint if you like to streamline your idea to reality, minimising risk at all turns.
The very beginning of an idea comes down to cost and then often or not raising capital. When raising capital starts it’s usually from friends and family, $10k here and $10k there. The biggest mistake we see with entrepreneurs raising capital or borrowing money from friends and family is they are not quite sure of how much they need in the first place, so they borrow money, build a cheap website, print some business cards and set up a Facebook business page. Then the problems start.
A lack of operating capital creeps in, the need for expensive legal assistance with shareholder agreements, constitutions, terms & conditions and refund policies are overlooked. The website costs more than expected. Marketing subscriptions like database fees and hosting not calculated accurately. Traffic is poor and SEO is now a priority but costs a fortune, marketing budget is needed but where is it best to put the marketing? Business deals done but lawyers cost too much for the contract preparation, indemnity insurance not taken out and so on. Research and development grants look attractive as business loans are being Googled for financial help. Wearing all the hats wears thin and staff are now a consideration but is the turnover warranting the cost of employing staff? Do you know how to employ staff?
Suddenly, the fear of failing is experienced more than the joys of building the new company all the while holding a brave face in front of the family members you owe money to. When desperation creeps in we see people turn to online scams, business mentors selling nothing but memberships, subscriptions, hopes and dreams.
TWD can stop this from happening with professional guidance, but timing is essential.
We see this all the time at TWD. Only a very few make it and approx. 90% of business start-ups fail. If you have a big idea or new business idea that you want to bring to life, see us first, see us before borrowing any money or distributing equity. We can ascertain the market validation worthiness of the project and protect your business from start-up failure. We offer a massive range of tips and a huge range of tools to cut costs and add value.