i need people’s advice and thoughts on something…
my partner and i are starting a company focusing on the development of an online application for a very niche market but with large potential. right out the gate, we will have roughly 600 users on the system and our payment format is on a per user per month basis (between $6 to $9).
now, we have an investor (who we know as a friend as well) who is willing to put $250K for the first year and provide more capital if need be in following years for a 50% stake of the company. my partner and i do not have the capital to start this ourselves and its not a business we can run out of our homes to keep costs down, so we need office space, furniture, equipment, lawyers fees, accountants, etc.
lastly, the investors connections are very important to us cause he is a big name in the niche market we are going after, so he would be an effective tool for bringing more clients to the system.
thoughts on the above?
advice?
thanks!
