Idea: Whimsical Tales - Ideablob: where ideas grow

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Comment by whimsicaltales on 02/23/08 09:04 PM

I figure I would need approximately 25,000 to test the idea. That would include packaging, updated website, marketing and 100 kits. I agree, it's better to start small and build from there.

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by duckling

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04.10.08 | 12:18 PM

I agree with aminator, develop the prototype and sell the idea from there.

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by aminator

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02.20.08 | 10:17 PM

How much capital do you think is required to help prove your concept ? What is the minimum you would require to test the idea ? Sometimes its easier to think in small steps.

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by inventorspot

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02.20.08 | 06:18 PM

Everytime you get an investor, you lose a bit more control of your product or business as well as a portion of the upside. So the earlier the money, the more expensive the money is.

To the extent you can, try to find your own money to take you as far along the process as you can.

The most reputable investors are your friends and family and those that you know. Then, its finding reputable angel investors through the angel investor networks out there. Here is one place to start: http://inventorspot.com/financing_invention
I mention this one as it's one I know. There are plenty others that are better.

Investors vary in what they expect and its usually a negotiation. They can ask for anything from half of your company, to minority share but super voting powers, to just a share in potential upside. It is highly negotiable so do alot of research before you commit to anything and have your terms thought through before you approach anyone.

Good luck.

Michelle
InventorSpot.com - Advice for the Inventor in All of Us
htt…morep://inventorspot.com

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Idea Description

Whimsical Tales is a writing kit including the necessary tools for children to author and illustrate their own hard cover book. It encourages children to creatively express themselves through writing and drawing. The completed project is a keepsake for the author, family and friends to enjoy for years to come. It's a look back at the child's writing, drawing and thoughts from an earlier age.
The kit includes some unique items that motivates children to complete the book and share the
books with others.
Our motto is" Write Today, Write Tomorrow!

What will you do if you win $10,000 for this idea?

I would use the money to finalize the packaging for Whimsical Tales writing kit. I know how important packaging is in helping sell a product. Therefore, I hired a package designer to aid me with this process. I am trying to finance my new business so winning this money will help a great deal.

Whimsical Tales

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What will you do if you win $10,000 for this idea?

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Q1: Financing is my largest challenge. I want to know the following: How can I find reputable investos? What requirements are expected by investors when accepting someone's application? What do investors expect in return? (0 pieces of advice)

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Idea Description