No Numbers No Projections
A wannabe web entrepreneur talked excitedly about a South African idea for funding such start-ups. Crowdfunding aims to be the continent’s first collaborative pool for such cash and expertise.
I was informed they have a specific approach to filtering business plans and ideas that come in to them.
Apparently, they do not want any numbers, nor projections. Instead, they want to know what the “big idea” is. The only extra info they want is who’s in your team and how far you may have already got.
the big idea
how far so far
Surfing through their info, it seems an endeavour in the early stages. Yet they expand on these. A few interesting quotes flow through for anyone writing a sales or business plan. These include:
If you are going to fail, do it fast
When I see and read an application for funding, it usually takes no more than 30 seconds for me to get a gut feel for it
And on the actual idea itself, you can read the detail of what they believe it must be;
really, really simple
clear solution to a clear problem