I’m completely lost and need a mentor. I need advice on my pitch for my startup I’m seeking funds for...

I’m completely lost and need a mentor. I need advice on my pitch for my startup I’m seeking funds for. I have raised $40k so far but this last $10k I need is proving to be a bitch.

This is the advice I have gotten so far:
>who have shown in the forums
which forums
>really want new innovative products
just sounds dumb. get rid of "new" obviously you're not selling used products - derp
>a forum of 26,000 dedicated glovers, word will spread like wildfire.
major assumption
>I am willing to exchange 20%
giving up this much equity is retarded. never start here. any investor that isn't a brainlet will negotiate. start much lower.
>for this amount because we have no sales yet. I am also willing to set aside $10,000 and another $5,000 to account for taxes to repay your investment.
makes you sound desperate and that you really don't think it will work. delete it.
i'll go on if you reply. but remember to sell the sizzle, not the steak. don't get into all the details, stick to the broad picture and the "dream". there are a lot of dumb people with money who will give it to you if you don't talk them out of it.


you're welcome. is the link to your info basically notes or are you sending it to potential investors? i guess the question i'm really asking is are you doing any in-person pitches? if this is what you're sending to people, it has way too much info. basically, you want to outline the size of the industry, which you did well, show your prototype, and then illustrate how you expect to generate sales. everything else should be removed. if someone asks for additional info, give it to them, but only when they ask. giving away 20% equity when you could've only given away 10%.

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Other urls found in this thread:

trello.com/b/Y1KRSwSh/for-investors-gloetech
alibaba.com/trade/search?fsb=y&IndexArea=product_en&CatId=&SearchText=glowing gloves
twitter.com/SFWRedditGifs

Bump

Are you the guy who has an idea for a business with LED-lit gloves or something like that? I think that's part of the problem. People with money aren't going to be too interested in investing in a company whose product or business has a low barrier to entry. Also, if you are the gloves guy, the business idea reminds me of mimes, which have negative connotations.

Yes, that’s me. What is mimes?

Your image choice is divine, as you know your post is sage.

I do suggest you abandon the notion of yourself as a communicator at this time, and sage.

They are typically street performers who paint there faces white, wear black leotards and white gloves. They then act out scenarios without any props and without saying any words. I've attached in image of a typical mime performer.

Sorry, but I don't really have any advice for you. The business is not something I would invest in because I feel the risk-reward is just too poor. If there are conferences for glove-dancing or whatever it's called, you should attend some of them to try to make sales or meet potential investors. You business is too niche, difficult to understand, and seemingly lacking a moat (barrier to entry) to be an easy sell to most investors.

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You want to make LED gloves for people that go to EDM festivals?

Yes, exactly.

Oh, you meant an actual mime.

Send me your throwaway email. I am partially interested.

Bump.

[email protected]

check it.

Bump.

Will do.

Bump for feedback.

Bump.

Dude you keep posting this thread. It's going to be very hard to secure funding for this for a lot of reasons:

1) EDM crowd is dying
2) A small portion of that are people that wear gloves. Everyone else is just rolling balls, they don't care about the gloves
3) Those that do the gloving are usually rolling or know OF that culture (I know because I used to rave a decade ago)
4) These people already have their go to brands, that have been out for a decade now. I have seen those since 2007
5) These same people when they are over raving because their brains have been fried, will stop giving a shit
6) If your competitive advantage is that they can be programmed faster, then that is NOT an advantage. So what? Who cares? Most of these people who wear gloves are just young 20 year old white kids with a raver name like Candyman who spend the night before getting their pills in order for the rave the next day. Who cares if they can program it faster? They already have their gloves they bought and they are most likely broke. Why should they buy yours?

So you basically have to capture a TINY market of people that have rolled their brains off. and of this TINY market of glove people, they have to be SO enthusiastic about it, that they want to TRY your brand (the key word is TRY).

Do you have any built? Are you selling any? Do you have a working prototype? You should just do it grassroots and build some, sell it, build traction, get reviews on your site, and move from there. I find it very very hard to believe you will get funding for this.

Dafuq is this thread

Make a simplistic variant for kids.

Start selling them at fairs or events in the evening.

You can sell something for 10 bucks easily to spoiled brats.

Get some sales, then talk to investors.

>he doesn't have his own domain yet
not gonna make it

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Dude fuck off with this gay glove idea already.

You have 40k, apparently. That's enough to start making your gay gloves

EDM crowd is growing tard, read my report, also gloving isn’t just EDM just mainly.

Most Glover’s don’t roll, the culture has shifted to the online communities.

Being able to program them faster is huge, it’s also one of many things we do better I have listed in my pitch. We are 20 times better than anything out.

We have a finished prototype. I have gotten $3,000 off this board and $43,000 in total so far so your wrong I can get funding and it will make a lot of money it’s just a weird industry.

We don’t have the money to build a site, I could secure the domain though.

There are already hundreds of different LED gloves online, what makes you think your shit would be any better?

Because I have spent the last four years perfecting them.


Let's discuss some of our selling points and contrast them with the top competing products.

1) The fastest programming by far

Glovers will be spending a lot their time creating patterns so it's important we make this experience as smooth and pleasant as possible. It's one of the most enjoyable parts of gloving—creating a set of lights that represents your personality and gloving style and then sharing your creations with others. We allow users to edit and preview their patterns without having to leave the page on the mobile app. On our main competitor's Spectra app, users have to go back and forth among 18 menus every time they want to make, edit, and view the pattern—not very user-friendly, to say the least. On our app, users are able to do all of that, and a lot more, on the same page. Our programming method is 10 to 30 faster than anything on the market.

2) Live previewing directly to gloves

On our top competitor's product, users have to send their pattern to a programming hub with an LED that shows the pattern and then transfer the pattern to their gloves by pressing a button on the device. This is a lot of steps to just preview a pattern. We allow our users to preview patterns on the app and send them directly to their gloves while wearing them.

3) Dynamic previews

Every pattern created on the app gets a custom-generated dynamic circle preview to show the user how the pattern will look in real life. This also really helps organize all the patterns. On our competitor's app, users have to visualize everything in their head, and this can be a little confusing.

4) Quick-swap rechargeable batteries

We are the first company to introduce quick-swap rechargeable batteries. Other companies use disposable coin cell batteries that must be replaced. This can take some time and is very inconvenient at an event. With ours, users just swap out the one battery housed in the wrist compartment.

5) Multiple sets

Unlike other gloves on the market, which only allow one set, or six to nine patterns, on a pair of gloves, we allow up to six sets of up to six patterns each. To unlock set selection, the user presses down on the palm pad with any finger for two seconds. Once unlocked, sets are selected as follows: touch the index finger to the contact pad for set 1, the middle finger for set 2, the ring finger for set 3, the pinkie finger for set 4, the index and middle fingers for set 5, and the middle and ring fingers for 6.

6) Modular design allows accessories to be added

We allow users to add things like LED rings and LED sticks, and even allow them to change our finger modules to newer versions with our modular design. Up to 200 devices can be connected to each controller.

7) Interconnected design

Interconnected design allows users to control their LED rings, LED sticks, and LED masks all from their gloves, separately or all at once.

8) Creation sharing

We allow users to share creations with their friends by text message or upload them to our community creations page on our app so that others can then download them. We will have many categories, such as top 100, hot, most recent, and staff picks, for people to choose from.

9) Cost and value

Our product will be the most expensive set on the market by an average of $20 to $40, but it will offer the best value. For one $160 purchase, our customer will get a product that has more features than all other companies' lights combined.

10) Size/dexterity while wearing

Our current version is smaller than any product on the market. We have been able to reduce the size so much by removing the two coin-cell batteries that all the other lights on the market employ. Instead, we use hair-thin microwires strategically coiled along the walls of the glove that plug into the microlights to power them. Size is important because going smaller greatly improves the quality of the light show.

11) Pattern selection

On current lights, the user can change only one finger at a time, using their thumb. On our lights, users can change all four fingers at once by touching them to the conductive pad on their palm. We even allow users to place a second reverse cycle pad. No other company does this; with them, if a user makes a mistake on one click, they have to scroll through seven to ten patterns just to get back to where they wanted to be. That can completely ruin their show, and if they're not experienced enough to correct this mid-show, they will have to stop to fix the problem. Having the reverse feature really helps with recovery.

12) New pattern types

FuturisticLights.com funded on Kickstarter by adding a motion mode to its microlight. This works by allowing the user to choose two patterns, one that shows when it's moved and one that shows when it's still—pretty simple.

We have motion and orientation modes and five all-new modes exclusive to us. These new types will be huge for glovers. They have the power to completely change the dynamic of light shows and create new styles and moves that currently aren't possible.

The first mode is jolt, which activates a secondary slot when gloves are suddenly jolted. Second, we have proximity, which activates a secondary slot when gloves are within a set distance from each other. Third, we have timed, which lets users put delays on their patterns before starting. Fourth, we have synchronization, which allows synchronized patterns to be displayed across the lights, similar to the way police strobe lights move back and forth. Fifth and last, we have sound reactivity, which activates a secondary slot when the outside volume exceeds set levels.

Like I said we are 20 times better and it’s about a $200,000,000 a year industry and making $50,000,000 million a year is a lot of money to me.. My god, how is this this industry to small.. You people are putting your money in Crypto with little return when I can turn $10,000 into a million a year return.

Bump for feedback.

didnt even know LED gloves were a thing. probably because it's a retarded idea. good luck

What the fuck is this broken English. Is this unironically how you communicate you chinkgroid?

This is the gayest fucking shit hahaha

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What’s wrong with what I said? “I’m completely lost and need a mentor. I need advice on my pitch for my startup I’m seeking funds for. I have raised $40k so far but this last $10k I need is proving to be a bitch.”

This is the advice I have gotten so far:

HAHAHA YOU KEEP GOING
ARE YOU KIDDING KYS

op can't bump his own thread dipshit

do you still have your google drive full of your documented ideas? i enjoyed reading through that a long time ago

Pretty sure they can on this board.

Everyone here is retarded by the way, OP, set up your LLC and separate yourself financially from the company, take those investments and start making the gloves right away, assign yourself a good salary and if you go belly up just bankrupt and keep your salaried out cash for ez money, move onto next idea, rinse repeat.

>this thread

B-based

All my ideas that are gloving related maybe but they are listed on this link also. I have many other ideas but I’m trying to get this one done first.

Why not be honest about this being a thinly veiled pajeet cash grab instead of pretending to ask for advice

Gloves are already made, just need money to create a Kickstarter campaign, I could probably get by with just a few k even.

This is such a fucking gay idea.

>raises 40k
>can't spend 1k on a 1 page site

hmmm something seems strange here

also you realize that you've permanently linked your product with an alt-right anti-semetic CP board

>but they are listed on this link also
what link?

Here's my business idea for you, it's called a JackIt. Disposable flashlights that function like condoms but that feel better.

Kickstarter is a dead meme. Outsource and have some chinese slave labor company build them, license them to be sold at shitty retailers or amazon.

Wow! I never even linked my pitch... It’s here: trello.com/b/Y1KRSwSh/for-investors-gloetech

I’m new at this, I create products and am learning the rest, also why do I need a site if I’m launching on Kickstarter?

...

Maybe because you're planning to sell a fucking product.

>why do I need a site if I’m launching on Kickstarter
i recommend you do not go into business, you will lose everything

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Okay, I will build a simple landing page that asks for your email. Everything is very bootstrap but it will work.

The Chinese have copied before you made it

I have watched over four different people get rich who had no idea what they were doing. I’ll learn it as I go, that’s why I’m here. Just read my pitch..


trello.com/b/Y1KRSwSh/for-investors-gloetech

alibaba.com/trade/search?fsb=y&IndexArea=product_en&CatId=&SearchText=glowing gloves

>View 741 Product(s)

Ok then start building and selling the things already then. You have 40k already.

Fucking horrible.. and 40k is being spent on nonsense like this..