Here in Silicon Valley, for anything less than $50,000 to launch a business you usually start with "Triple F": family, friends and fools.
Here in Silicon Valley, for anything less than $50,000 to launch a business you usually start with "Triple F": family, friends and fools.
GameboyRMH wrote: The idea's not bulletproof, I never said it was, in fact in this thread I've admitted it could fall flat on its ass...my "skin" is in just a couple of big patches I can't divide up. I'm confident I could pay back a loan at a low interest rate if it fails though.
Get a personal loan from a bank.
Type Q wrote: Here in Silicon Valley, for anything less than $50,000 to launch a business you usually start with "Triple F": family, friends and fools.
Or live off credit cards for a while...
Type Q wrote: Here in Silicon Valley, for anything less than $50,000 to launch a business you usually start with "Triple F": family, friends and fools.
Apparently looking here puts him with the 3rd F.
(rimshot.jpg)
Thank you, thank you, I be here all the week.
Flight Service wrote:Type Q wrote: Here in Silicon Valley, for anything less than $50,000 to launch a business you usually start with "Triple F": family, friends and fools.Apparently looking here puts him with the 3rd F. (rimshot.jpg)
I think you find all three on GRM. 
I am not borrowing adverse for business ventures. I do it all the time.
I am, however, very adverse to borrowing something I can't afford to loose to put into something that has such a low barrier to entry that I could be put out of business in a week.
The Doc is right. Bad business plan.
A barrier to entry is one of the strongest tools a business can have. Lack of one is by far it's greatest weakness.
I think I could make half the money back in the first weekend, at that point I could sell off the equipment to competitors and more than cover the initial investment in a worst-case scenario. The first guy who sold Hillbilly Wind Chimes made a killing right?
And I think there are only 2 people (including That Guy I Mentioned) who could catch on and start competing quickly...the rest of the competition is way too tech-illiterate, they'd first have to hire someone who can tell their ass from a USB port 
GameboyRMH wrote: ...the rest of the competition is way too tech-illiterate, they'd first have to hire someone who can tell their ass from a USB port
reminds me of a commercial I once lol'd at
guy: My computer isnt working
tech support: OK, lets start from the top. First, is the computer plugged into the wall?
guy: but this computer didnt come with any wall?!?
tech support: [siiigh] its ok sir, we will get thru this...
Might as well resurrect and update this old thread, I got beat to the idea, in a manner exactly as predicted.
GameboyRMH said: I know one guy in particular who has the means and knowledge to do this RIGHT NOW and add it seamlessly to his business empire
^This happened sometime in early 2014. Business seems to be booming for him. Confirmed today who's behind it.
The idea was drone photography.
Wow, I hope the FAA doesn't knock him out of business...
He works with the regional authority to coordinate drone flights and he's already suggested that he's advocating more regulatory roadblocks for the rest of us. He has a pilot's license himself and so do some of his buddies.
Nice, nothing like legislating yourself into a monopoly...
This will sound bad but for short term, under 1 year, I use a credit card and then balance transfer. I have a card that does 0% for 12-14 months all of the time with a 2-3% balance transfer fee.
It works to finance projects, etc longer term but I almost always have the funds to back it up if needed too.
If that isn't an option, then time to either hit the classifieds and start selling stuff or another job to raise the capital.
Edit....Should have read the whole thread. Looks like the FAA is not really liking private drone flight too much so it may be very short lived. My cousin is a drone pilot for the Army and she mentioned that there really isn't going to be much civilian work for her with the upcoming FAA reviews so she re-enlisted.
Don't know how true that is but oh well.
I'm wondering where the cutoff is between RC gizmos and unmanned aircraft come in to play. For stuff like real estate, weddings, ego pics of factory roofs, a small RC copter could get it done. For large scale, you get into controlled airspace and all kinds of regulation...
They tried to regulate ANY drone period. That got shot down. Waiting till next year for the new regs.
GameboyRMH wrote: He works with the regional authority to coordinate drone flights and he's already suggested that he's advocating more regulatory roadblocks for the rest of us. He has a pilot's license himself and so do some of his buddies.
Quit spending money on car parts or vacations so the next idea you have, you will have the capital to make it happen.
Then I'd just be working, sleeping, maybe playing some video games or watching TV in between (as long as none of that equipment breaks) and not seeing most of my family while I'm at it.
Most of the time I would've had the money, just not in the middle of my car's overhaul. Pretty much a decade of saving is going into it, and as you can see in my build thread it's quite a modest build.
Drone photography will be HUGE once it's legal.
There are creative ways to do it legally now.
I have the setup- quad copter, camera, editing equipment. Have only done a few jobs. Not enough time to get the business off the ground, and a very small market where I live.
The current laws are a very nice barrier to entry for competition.
If I lived in a more metropolitan area, I would run with it.
There is a company that caters to the Tampa/Orlando market and they seem to be doing well.
How does one do it legally?
AFAIK the only 100% legal way to do it is exactly like legally flying a helicopter, but with a drone.
The semi-legal way is to follow the same laws that govern flying RCs and/or kites.
Commercial drone operation illegal. If you sell pictures taken from a drone (or RC copter, etc), it is a commercial operation, and therefore illegal.
Hobbiest uses are legal.
Read between those lines like you would the rules for a race.
I can come up with a half dozen options.
Most people view rules as limitations- a list if stuff you can't do.
I view rules as guidelines to what CAN be done.
The business advantage comes when you marry what CAN be done, to the fear other people are feeling about what CAN'T be done.
Turn it into a barrier to entry for your competitors.
You have to know the rules better than the other guy, and turn them against him, and for you. Just like racing.
z31maniac wrote: Shiny happy person content: You have all these great ideas, yet don't have $2k to invest in them. That tells me all I need to know as a potential investor.
More truth than poetry to this post. Being a veteran of the capital raising game, I assure you that the person you are hitting up for the $$$ really does not understand or care much about the widget.
What they want to hear is that you (or the team) has some kind of a track record for pulling this stuff off. Starts with a business plan and a resume.
I have invested in business with low barrier to entry (brewery) and can confirm that once people see your amazing no work job, they will swamp the boat; it is just human nature. If you can't exit with the money as soon as the competition starts, you end up spending your early profits in trying to compete. Even if it s "Accept bankruptcy" have an exit strategy.
As to turning down offers of $$$ from perfect strangers on an automotive bulletin board, in my early start up days I would have been all over that in a second. In my mind all individuals looking to get on board are grow-ups and responsible for their own due diligence and contracts. Have made some people good money and seen others lose the lot. A casino will take your money on the same business plan.
SVreX wrote: Commercial drone operation illegal. If you sell pictures taken from a drone (or RC copter, etc), it is a commercial operation, and therefore illegal. Hobbiest uses are legal. Read between those lines like you would the rules for a race. I can come up with a half dozen options.
I am not selling you pictures of your property for $100, I am selling you this 4gb jump drive for $100. It just happens to have photos of your property...
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