How do I get financing for a network of websites I wish to start?

[Matt Soehl]

I have acquired 77 great geo-domains and I wish to start a business around them. Where should I go to get financing for this start-up? Any advice would help.

 

[GeoOwners]

Your mom?

 

[amplify]

Your quickest solution is either a personal loan in the amount of up to $50000 to develop all or some of the sites and hope they generate $1000+ to pay the first months payment before your credit score tanks or a personal credit card with revolving credit so you can develop X at a time while making Y and putting it back on the card.

You can use the top tactics to get going, but if you want strong SERPs and income, you'll need a business loan. Having established income always helps a business plan rather than just a vision alone.

Good luck

 

[stewie]

I have acquired 77 great geo-domains and I wish to start a business around them. Where should I go to get financing for this start-up? Any advice would help.

My advice would be to make sure these are 77 great domains before dumping a large amount of time and money into them.

If you are sure they are great... How much money do you need?


Good Luck.

 

[BiggieBiggie is verified member.]

I have acquired 77 great geo-domains and I wish to start a business around them. Where should I go to get financing for this start-up? Any advice would help.

Hi


if they are so great...

then sell a few or lease/rent out some and use those earnings for capital -

or park them until you earn enough cash to get started -


or, go get some credit cards and use the banks' money to finance your start-up

My advice would be to make sure these are 77 great domains before dumping a large amount of time and money into them.

If you are sure they are great... How much money do you need?


Good Luck.

agree with this too and you should have a budget for planned expenses

imo...

 

[Matt Soehl]

Thanks for the advice! I would probably need 50k to get started.

 

[amplify]

Thanks for the advice! I would probably need 50k to get started.

50k as a personal loan will put you at 12.5-18% APR. Your first months payment will be $1000-$1500.

With that being said, it's a personal loan and you're not allowed to make money off of personal loans, if you get my drift.

 

[ravdn]

Invite friends for a party and explain the project and ask for investment.

 

[amplify]

Invite friends for a party and explain the project and ask for investment.

Boats & hoes approach, works sometimes

 

[foundrstack]

Thanks for the advice! I would probably need 50k to get started.

Just curious: how did you come up with that number? What's your overall business plan that would require spending 50k building 77 GEO domains at once? Are you sure that number is realistic?

What I mean is; are you sure that much to get started is even needed? Test your concept on a small scale first. No need to go into debt when you don't have to.

 

[Jack Gordon]

What Tia said.

Really important question, asked in sincerity... do you know what you are doing (i.e. have a solid plan) or are you flying by the seat of your pants?

 

[katherine]

I agree, start with just one domain as a test case.
When the concept is proven and mature lather rinse repeat.
When you have something to show that works, it will be easier to get funding.

Overambitious projects have a high chance of failure:
http://www.dnforum.com/f77/my-littl...s-saying-goodbye-domaining-thread-447367.html

Good luck.

 

[dmyre]

It's easier to hit your target when you aim first before pulling the trigger.
Start small and think it through...

 

[gaetanomarano]

-

try with crowdfunding

 

[IIM8]

Get in touch, happy to review what your seeking to do. (See sig)

 

[chipmeade]

Invite friends for a party and explain the project and ask for investment.

Terrible advice. Friends and loans don't mix. Write up a business plan. Show it working in a smaller scale. If you can't put $10K of you own money together to get the ball rolling, you will have a hard time getting anyone else to take an even bigger chance on you. If the idea is can't miss, skip on your rent, sell your car, max your credit cards. Unfortunately the marketplace is littered with good intentioned, poorly executed "idea" men. Why not share your idea rather than a vague "I have 77 awesome geos." Good geo names don't need any investment to begin turning a profit as a result, it sounds foolhardy to me. But what do I know? Good luck.

 

[Zoobar]

Terrible advice. Friends and loans don't mix. Write up a business plan. Show it working in a smaller scale. If you can't put $10K of you own money together to get the ball rolling, you will have a hard time getting anyone else to take an even bigger chance on you. If the idea is can't miss, skip on your rent, sell your car, max your credit cards. Unfortunately the marketplace is littered with good intentioned, poorly executed "idea" men. Why not share your idea rather than a vague "I have 77 awesome geos." Good geo names don't need any investment to begin turning a profit as a result, it sounds foolhardy to me. But what do I know? Good luck.

This is how it works. Great advice.

 

[Fabbstar]

Difficult to say without knowing how good or otherwise the domains are, or if industries will turn a profit. I have roughly the same amount of domains I plan to develop, the last thing I'll be doing is getting 50k in debt. I've started small, one domain at a time. start with your biggest opportunity first and then apply your formula to the next 3-5 domains. Dont rush in. Also, be prepared for success to come later than anticipated. Only after I have 10+ domains all turning a profit will I consider asking for money.

 

[jstewart]

1 at a time!

 

[amplify]

After being privy to the list, I would say to only develop the geo's that are closely related to the topic only as not all geo's have that industry. I would also test the waters and publish one at a time because once you have the template of the first one up and running, it shouldn't be too hard to modify it and put up the second, third, fourth, etc. websites up in a matter of a week or less each.

When the first one is published, ensure that you do a press release, it's SEO optimized, has backlinks, etc. to see if it can draw traffic and revenue in the first month to two (or if anyone is even interested in the content via your bounce rate / time spent on website in Analytics). I would select the geo with the biggest hand in the industry for the first website to be published and that can easily be found on Wikipedia.

Once you have a steady traffic/income flow, start developing out and link wheeling them together under different IP addresses as a network of sites to pass juice along.

When it becomes overwhelming to develop (you have 10 or so and it's hard to manage), but can show that each site is making $100 a month, you have more to develop, it will be easier to convince a bank or private investor into the deal by showing figures to get the $50,000 necessary to develop them all properly or invest all $1000 of profit into the loan and add a little professionalism to the template (unique designs)

If you want to put all your eggs in one basket, go for the personal loan and put your credit score on the line if it tanks. Though, I would highly recommend if you do that to take at least $15,000 for one or two sites that generate parked income to assist you to pay the bills while you develop the rest so the $1000-$1500/month payments aren't such a hardship.

Good luck in your endeavor whichever route you take!