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BACKING BUSINESS IDEAS, HELP STARTING INTERNET COMPANIES
Backing business ideas, help starting internet companies, business angels, venture capitalists looking for successful entrepreneurs needing business backing We have helped start and backed numerous internet companies over the years. Some have proved phenomenally successful and others have fallen flat on their faces. We don't always get it right, although experience has helped us make fewer mistakes in recent years. When we look back at the businesses that didn't make it, without exception it was because we backed the wrong person and not because it was a bad idea. Fairly simple and basic ideas for businesses that we have backed have succeeded because the principal behind the idea had the qualities needed to be a successful entrepreneur (see next chapter). Whilst what appeared to be exceptional business ideas floundered, because the person we were backing wasn't prepared to put in the effort and dropped by the wayside because they couldn't or weren't prepared to roll with the punches. The early years were a steep learning curve filled with optimism and excitement when things were going well at the high points, and disappointment and desperation when things went wrong at the lowest points. The difference between us and the people who threw in the towel and walked away was the fact that we always got back up and never gave in. Build web pages and link them into your website here and drive traffic to your website Advertise on this search engine and gain more links and get more visitors to your website Join Boogami Life for free and make money It leaves a nasty taste in the mouth and horrible feeling in the pit of your stomach when someone you have backed with your own hard earned money suddenly announces that, because things haven't gone according to plan, that they have got a new job and will be leaving you to sort out the mess. The early lessons of backing people simply because we liked the idea, and putting all the money up on the basis that the person we were backing would be as careful with our money as we would be, cost us dear. The main lesson we learned was not to back anyone who didn't have a small percentage of the initial start up costs of any business we backed. With hindsight it is easy to see that it was a mistake to back people who hadn't got a track record of some kind so that they had at least some savings to invest in the venture. START UP BUSINESSES This of course only relates to start up businesses. If we are going to back a start up business we will always insist on them investing their own money in the venture, even if it is just a fraction of the start up costs. If they are not prepared to do this, or if they have not got any money to invest in the business, we will walk away. We have learned from experience that the people we partner are always more enthusiastic, committed and determined to make the business succeed when it is their own money on the line. It may only be a few grand but if that money has been earned through their own blood and sweat, they would fight tooth and nail to make the business succeed. Start your own business Fantastic business idea Those budding entrepreneurs who promised they would work night and day if we backed them because they didn't have any money were often too quick to start looking around for the exit. This wasn't the case in every circumstance. We have business partners who we backed 100% who have done exactly what was asked of them, and some who have gone beyond the call of duty to repay our support. However, when you see a couple of hundred grand of your money disappear down the pan because someone felt business was too hard, wasn't how they believed it was going to be, or felt the rewards weren't the effort, then it is very difficult to part amicably and by mutual agreement. What always upset me was the fact that people we had supported financially and emotionally, and invested months of our time in, felt they had no loyalty or need to try to recompense us. They were, without any doubt, people with no moral fibre: spineless individuals prepared to walk away without looking back and without any feelings of remorse or guilt. However, early successes far outweighed the failures, and gradually we began to see the formation of an internet empire made up of individuals and businesses that continues to expand and develop in all directions. Today, backing new internet businesses, acquiring existing businesses, and partnering failing or struggling business and turning them around makes up a large proportion of our business. We are constantly on the look out for high calibre entrepreneurs and business people who are looking for business partners to work with them. The emphasis nowadays is always on the individual although the business idea has to have merits. As I have said many times before, a good idea does not make a good business; it is the person running the company that will ensure that success. BACKING A START UP BUSINESS If you have an idea for an internet business, you should be well prepared before approaching us. If you come to us with a sensible proposal we will always be ready to listen. Just plopping an idea in our lap without anything to back it up will not impress us. The Golden Web - The Internet Entrepreneur's Definitive Guide to Making Money Online To buy your copy click here Good business ideas |
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