▲ 65 ▼ How is it possible to start a business if you have no money and skills, but have an idea? (self.nostupidquestions) submitted 2 years ago by labbbb to c/nostupidquestions@lemmy.world 32 comments fedilink hide all child comments
[–] jordanlund@lemmy.world 25 points 2 years ago (2 children) Make a business plan. Take the business plan to people who DO have the money and get them to buy in. permalink fedilink source hideshow 4 child comments replies: [–] RegalPotoo@lemmy.world 13 points 2 years ago (1 child) Caveat: depending on if you are getting a loan from a financial institution or taking private investment, they will either want collateral (if the business fails, we will sell your house to cover the debt) or will want a pretty big chunk of the equity (we'll take the risk that the business fails as we loose all our money, but in return we want to own 50+% of the business, have the final say on decisions, and take a good chunk of the profit if you are successful) permalink fedilink source parent hideshow 2 child comments replies: [–] Delphia@lemmy.world 8 points 2 years ago Unless its a low enough number that the bank would accept an unsecured personal loan application. The twist there is that interest rates on those are usually very high. permalink fedilink source parent [–] ElleChaise@kbin.social 3 points 2 years ago (1 child) If you don't have money to protect the idea legally speaking, you'd just be giving your idea away to a richer person by doing this. permalink fedilink source parent hideshow 2 child comments replies: [–] Adulated_Aspersion@lemmy.world 3 points 2 years ago Poor Man's Copyright. permalink fedilink source parent
[–] RegalPotoo@lemmy.world 13 points 2 years ago (1 child) Caveat: depending on if you are getting a loan from a financial institution or taking private investment, they will either want collateral (if the business fails, we will sell your house to cover the debt) or will want a pretty big chunk of the equity (we'll take the risk that the business fails as we loose all our money, but in return we want to own 50+% of the business, have the final say on decisions, and take a good chunk of the profit if you are successful) permalink fedilink source parent hideshow 2 child comments replies: [–] Delphia@lemmy.world 8 points 2 years ago Unless its a low enough number that the bank would accept an unsecured personal loan application. The twist there is that interest rates on those are usually very high. permalink fedilink source parent
[–] Delphia@lemmy.world 8 points 2 years ago Unless its a low enough number that the bank would accept an unsecured personal loan application. The twist there is that interest rates on those are usually very high. permalink fedilink source parent
[–] ElleChaise@kbin.social 3 points 2 years ago (1 child) If you don't have money to protect the idea legally speaking, you'd just be giving your idea away to a richer person by doing this. permalink fedilink source parent hideshow 2 child comments replies: [–] Adulated_Aspersion@lemmy.world 3 points 2 years ago Poor Man's Copyright. permalink fedilink source parent
[–] Adulated_Aspersion@lemmy.world 3 points 2 years ago Poor Man's Copyright. permalink fedilink source parent