Daniel Smith, founder of social media marketing consultancy Propaganda House, joins us on the blog today. Daniel discusses the need for investment in a business idea and is keen to hear about your own experiences and thoughts. Welcome Daniel! Naomi
When you look at Successful Big Businesses it’s easy to think that’s how they’ve always been. On the contrary, every successful big business starts its life as an idea inside the excited mind of an entrepreneur. The biographies of countless successful business people will tell you that the trek between ‘idea’ and ‘successful business’ is a long and arduous one, not dissimilar to the treks of the early explorers who opened up undiscovered regions of the globe for future generations.
Following this analogy – many of these early explorers wouldn’t have been successful in their treks without the backing of investors to who provided the much needed funds for equipment, supplies, and support personal. And the same applies for a business idea.
No matter how good the concept, most businesses at some stage require outside investment to fully conceive and take their earnings to the next level. Take Facebook for example; just 7 years ago this was an idea inside the head of a pimply university student – skip forward and it now has 500 million users and is valued at over $50 billion! BUT, without initial seed capital Facebook may never have become what it is today – and heaven forbid, we might all be using ‘MySpace’ or even worse having ‘face to face’ social interaction instead..
Having a great idea and finding someone who believes your idea is great enough to put their hard earned on the line for are completely different things though. Couple this with the need to find an investor whose experience, skills and attitude will align neatly with those of the business founders and you’ve got a real challenge on your hands! But if Columbus could convince Queen Isabella to invest in his ambitious (and at the time considered impossible) voyages then there’s no reason it can’t happen for a comparatively less ambitious business idea; and it does every day.
As the owner of a Social Media startup looking for funds to take it to the next level, I’m interested to hear how others have taken their business from idea to a thriving enterprise; where did you find your seed capital; angel investor, family, colleague? Or maybe you grew your business organically, without seed capital? Either way I’d love to hear your story!
Daniel Smith, founder of Propaganda House