Tell me more ×
Answers OnStartups is a question and answer site for entrepreneurs looking to start or run a new business. It's 100% free, no registration required.
up vote 3 down vote favorite

Me and one of my fellow liked an idea. He said if I need investment for that start up, I will be happy to make. But that was more like a coffee table discussion which lasted for an hour. I think I need some personal credibility to convince him to join me on it as a partner.

The guy is in job and earns a lot. I am a just out of college entrepreneur so I think I need some personal credibility to get his trust. What things I should keep in mind when I will ask him seriously to join me so that I look credible?

share|improve this question

3 Answers

up vote 2 down vote accepted

Start building on your Idea. make a power point presentation with features explained in brief.

Make a spreadsheet outlining the expense required it should also include sales projections and what kind of return of investment you are looking forward to.

If your "mentor" is already in a job and owns a lot he may simply want to invest a small sum on your idea if he hasn't got much to loose and knows what he is looking forward to in terms of profits you can share with him.

share|improve this answer
No, what I am asking is how to build personal credibility. He knows about the project. He knows the differentiating features. I want to show him that I am worth partnering with. – Sourabh Nov 14 '12 at 15:44
up vote 1 down vote

Well, expand idea of 'selling the project'. 'sell yourself' using that project as an example, and I would say show him future ideas, that goes pass the boundaries of that project so he can see that you are not limited to that specific idea, but rather to see that you can think.

share|improve this answer
up vote 2 down vote

Sell your business. Cover all aspects and show him a projection.

My professor once told me that, you can get anyone to join you as long as you can convince them. Make him believe in your project. But first, you must believe in your project.

share|improve this answer

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.