Quote:
Originally Posted by Adam X
True on most points here, and contrary to this threads initial post, your last paragraph above is what I've been leaning towards. In the works, there is a potential investor, as it were..hence my seeking a traffic partner to fortify my position.
I've learned a few things from past mistakes, especially calling new biz acquaintances "partners" until they've proven themselves.
And thank you Mitch, talk soon, always fun at the PPT nights...
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If by some long shot you happen to find an investor who is going to drop serious money (1 million or more) you should do the following: (my free advice to you)
1. Make NO partners. Hire everyone. Partners are not needed and are head aches, you can't count on them and they can single handily fuck your project.
2. Hire a cams consultant / Guru to help you set up the site, marketing, coordinate every aspect of a cams site. If they are not experts with chathosts, traffic, making the site convert better, getting customers to stick to the site, how to get the most money out of the customers pockets while giving them a good experience, who can work with programmers, designers, chathost, affiliates, etc... if they can't do all of that and are not well versed in all areas they are not a "cam guru" and hire someone else. But hire someone from day one, not when you going to launch. What you will pay this person and gain their knowledge that they have likely obtained over 10-15 years will be worth every penny you pay them and will play a huge part if the site will make it or not. Before you even start doing anything you should have this person hired and a plan / foundation laid out and then work from that point forward putting it all together right.
3. Buy all of your traffic. If you received that kind of money then you will have no problem buying the traffic you need to launch the site.
4. Hire a small staff to help you, most importantly will be a programmer (or two or three) at least one that is very good in server admin as you need to have someone who will know how to set up all of the servers and can manage them. You will need a fraud / cc processing guy who early on can also do customer service related issues. A guy who manages all of the traffic buys and works on generating traffic, tracking everything to se what is working etc... You should find an older pro chathost and pay her extra to take care of the chathost side of things. Do not hire a full time designer, that is a waste from my experience. You can get what you need done cheap piece meal. I am sure there are a few others I am missing. Basically do it right and hire the staff you need. (no partners) You run the show.
If you find someone to drop around 250K or less then basically you going to be ripping him off. You will burn through that money paying yourself and staff and keep delaying the launch date (by the time you get around to launch you going to have inadequate amount of money for traffic and I promise you it will flop). You and some other workers would be paid well for 6 months or so and the investor will get screwed. It's not enough money to start a site but too many people think it is.
I just think unless you know the RIGHT person its going to be damn near impossible to get someone today to drop that kind the kind of money needed to do a cam site start up.
And people always say "why haven't you done your own cam site yet" lol... because I know enough to know I don't have everything it takes to pull it off and am smart enough to not waste my time and money trying. Now if someone wants to put 1M in my lap... I'd give it a shot. I just don't know the right people (investors). And that is not bitterness, it's just reality. The best I can hope for is to offer my knowledge to someone who is looking to start their own site and help them via consulting. I just hate to see all of this good knowledge go to waste, but it is what it is...