Fed Up With Wannabe Entrepreneurs...
Discussion
With three of the last four so-called 'opportunities' I've been introduced to, wannabe 'entrepreneurs' (usually people of sound mind, in respectable jobs and earning upwards of 40k) expected me to basically fund their existing lifestyle for a whole year (or longer) whilst they attempted to establish themselves in a market they clearly knew nothing about. Is this at all normal, because I usually cause such people run to the hills when I state that such investment is for their business/idea alone - just ahead of breaking the news that their business model has more holes than a Dutch brothel... 
I can understand some people not wanting to take a risk, but what gives them the right to try and offload it onto someone else - I didn't!? I'm also finding it difficult to understand how such individuals, usually in the upper echelons of reasonable sized organisations, are so utterly inept when it comes to business - some even on par, if not inferior, to that of school children partaking in a Young Enterprise Scheme.
Please tell me I'm not alone in my frustrations.
I can understand some people not wanting to take a risk, but what gives them the right to try and offload it onto someone else - I didn't!? I'm also finding it difficult to understand how such individuals, usually in the upper echelons of reasonable sized organisations, are so utterly inept when it comes to business - some even on par, if not inferior, to that of school children partaking in a Young Enterprise Scheme.
Please tell me I'm not alone in my frustrations.
It must be frustrating having so much money burning a hole in your pocket.
I have nothing against people with money, but complaining because the people that you want to give it to aren't good enough..... That seems extreme?
Edited to add;
You think you have problems?
I have nothing against people with money, but complaining because the people that you want to give it to aren't good enough..... That seems extreme?
Edited to add;
You think you have problems?
Edited by dilbert on Monday 18th February 16:29
Plotloss said:
So do I take it that you're some sort of business angel/venture capitalist and these people want to take a salary from startup funds?
Yes and yes.john_p said:
How do you view someone working part-time in one job while trying to get another off the ground - or even working a fulltime job (temporarily) while they build up the other in evenings/weekends?
This is how I made my money - 2006 was spent working 6-7 day weeks, 18 hour days whilst holding down a position of fulltime employment. I'd be more willing to assist such ventures, just on the basis that the business owner is willing to put in the work, and is unlikey to expect the benefits of running their own company just to fall into their lap.dilbert said:
It must be frustrating having so much money burning a hole in your pocket.
I have nothing against people with money, but complaining because the people that you want to give it to aren't good enough..... That seems extreme?
I was complaining about 'well paid', so-called business people, asking me to pay their salary (basically mitigating any risk to the lifestyle that they are accustomed to by leaving their job) while they cock about playing 'entrepreneur'.I have nothing against people with money, but complaining because the people that you want to give it to aren't good enough..... That seems extreme?
No, but I have a totally legitimate Nigerian business proposition.... 
I largely agree with your original post; and I think it may partly be the 'Dragons Den' effect- just like every man and his dog thought they could have a go at property developing after watching Beeny et al over dinner, so everyone thinks they have what it takes to start up a business.
Thing is though that if they can't put in the time and effort and cut in pay to start with, what will these people do when things get tough in business further down the line? Not exactly making a great case to potential investors looking for a ROI..
My girlfriend is just starting to reap the freelance benefits after doing 70-80 hour weeks for quite some time and finally handed her notice in this week. Her collegues sit and moan how rubbish their jobs are and do nothing about it. It takes a very high level of dedication to take the leap IMO, as many here will attest.
I largely agree with your original post; and I think it may partly be the 'Dragons Den' effect- just like every man and his dog thought they could have a go at property developing after watching Beeny et al over dinner, so everyone thinks they have what it takes to start up a business.
Thing is though that if they can't put in the time and effort and cut in pay to start with, what will these people do when things get tough in business further down the line? Not exactly making a great case to potential investors looking for a ROI..
My girlfriend is just starting to reap the freelance benefits after doing 70-80 hour weeks for quite some time and finally handed her notice in this week. Her collegues sit and moan how rubbish their jobs are and do nothing about it. It takes a very high level of dedication to take the leap IMO, as many here will attest.
I think that there's two substantially different things.
Someone has a crap business plan. If that's the case, send them away with a flea in their ear.
Someone has unrealistic expectations of a venture capitalist. In which case, work with them, retard their expectations and its likely that you'll be able to do a deal.
But did you really expect any more than 25% of those applying for VC to be worth talking to? If so, then you're being as unrealistic as those that you're complaining about.
Someone has a crap business plan. If that's the case, send them away with a flea in their ear.
Someone has unrealistic expectations of a venture capitalist. In which case, work with them, retard their expectations and its likely that you'll be able to do a deal.
But did you really expect any more than 25% of those applying for VC to be worth talking to? If so, then you're being as unrealistic as those that you're complaining about.
I have a theory that no employee is paid what they're actually worth. The difference between what they're paid and what they're worth is the company's profit.
The only way for an employee to release this extra is to become self-employed - but the majority of people can't function properly outside the supportive environment of the workplace. That's what they pay for.
The only way for an employee to release this extra is to become self-employed - but the majority of people can't function properly outside the supportive environment of the workplace. That's what they pay for.
sa_20v said:
With three of the last four so-called 'opportunities' I've been introduced to, wannabe 'entrepreneurs' (usually people of sound mind, in respectable jobs and earning upwards of 40k) expected me to basically fund their existing lifestyle for a whole year (or longer) whilst they attempted to establish themselves in a market they clearly knew nothing about. Is this at all normal, because I usually cause such people run to the hills when I state that such investment is for their business/idea alone - just ahead of breaking the news that their business model has more holes than a Dutch brothel...
I can understand some people not wanting to take a risk, but what gives them the right to try and offload it onto someone else - I didn't!? I'm also finding it difficult to understand how such individuals, usually in the upper echelons of reasonable sized organisations, are so utterly inept when it comes to business - some even on par, if not inferior, to that of school children partaking in a Young Enterprise Scheme.
Please tell me I'm not alone in my frustrations.
sa_20vI can understand some people not wanting to take a risk, but what gives them the right to try and offload it onto someone else - I didn't!? I'm also finding it difficult to understand how such individuals, usually in the upper echelons of reasonable sized organisations, are so utterly inept when it comes to business - some even on par, if not inferior, to that of school children partaking in a Young Enterprise Scheme.
Please tell me I'm not alone in my frustrations.
How does one go about getting a business plan to a VC for consideration?
odyssey2200 said:
sa_20v said:
With three of the last four so-called 'opportunities' I've been introduced to, wannabe 'entrepreneurs' (usually people of sound mind, in respectable jobs and earning upwards of 40k) expected me to basically fund their existing lifestyle for a whole year (or longer) whilst they attempted to establish themselves in a market they clearly knew nothing about. Is this at all normal, because I usually cause such people run to the hills when I state that such investment is for their business/idea alone - just ahead of breaking the news that their business model has more holes than a Dutch brothel...
I can understand some people not wanting to take a risk, but what gives them the right to try and offload it onto someone else - I didn't!? I'm also finding it difficult to understand how such individuals, usually in the upper echelons of reasonable sized organisations, are so utterly inept when it comes to business - some even on par, if not inferior, to that of school children partaking in a Young Enterprise Scheme.
Please tell me I'm not alone in my frustrations.
sa_20vI can understand some people not wanting to take a risk, but what gives them the right to try and offload it onto someone else - I didn't!? I'm also finding it difficult to understand how such individuals, usually in the upper echelons of reasonable sized organisations, are so utterly inept when it comes to business - some even on par, if not inferior, to that of school children partaking in a Young Enterprise Scheme.
Please tell me I'm not alone in my frustrations.
How does one go about getting a business plan to a VC for consideration?
Obviously if you are looking for larger amounts of funding say £50K upwards then you will need to approach lenders. But cling on to every single % of equity you can, it will stand you in good stead in the long term. I would rather pay a high interest rate than give away part of my business. If the VC is going to bring certain expertise / skills to the business that cannot be found elsewhere or no one will lend you any money at all as your idea is very high risk then VC may be a good option.
Edited by jamesw2000 on Monday 18th February 20:31
Simpo Two said:
I have a theory that no employee is paid what they're actually worth. The difference between what they're paid and what they're worth is the company's profit.
Happy to debunk your theory: I know may businesses just about breaking even (therefore the employees are paid perfectly according to your theory), and many that are losing money (therefore the staff are overpaid). Furthermore, some of the above firms have too many staff, or staff that are being overpaid.
But that leads on to the question: Can an employee always get more income for what he/she does by going self-employed? I would say no, not always, due to the requirement to have business acumen, anxiety control, people management skills, etc, in addition to being able to do the actual job. For many, employment is perfect - no worries, just go to work and get paid.
jacobyte said:
Happy to debunk your theory: I know may businesses just about breaking even (therefore the employees are paid perfectly according to your theory), and many that are losing money (therefore the staff are overpaid).
Yes, you could argue that if a company is losing money (all else being OK), then it needs to reduce its wage bill. jacobyte said:
Can an employee always get more income for what he/she does by going self-employed? I would say no, not always, due to the requirement to have business acumen, anxiety control, people management skills, etc, in addition to being able to do the actual job. For many, employment is perfect - no worries, just go to work and get paid.
Exactly, there's a human factor at play too. Some people thrive in the self-employment. Others, corporate giants when employed, crumble to dust when made redundant and couldn't market themselves out of a paper bag.Edited by Simpo Two on Monday 18th February 20:32
[quote=Simpo Two]I have a theory that no employee is paid what they're actually worth. The difference between what they're paid and what they're worth is the company's profit.
The only way for an employee to release this extra is to become self-employed - but the majority of people can't function properly outside the supportive environment of the workplace. That's what they pay for.[/quote
I would agree with that, however I would add an alternative point of view.
The employer is technically an agent who acts to maximise the employees earning potential, and the difference between what the employee gets and how much money they make for the company is the 'agency cut'.
Of course, which way the employee looks at it is down to the unknown factor X.
X is whether the employee is able and has the balls to run their own business.
The only way for an employee to release this extra is to become self-employed - but the majority of people can't function properly outside the supportive environment of the workplace. That's what they pay for.[/quote
I would agree with that, however I would add an alternative point of view.
The employer is technically an agent who acts to maximise the employees earning potential, and the difference between what the employee gets and how much money they make for the company is the 'agency cut'.
Of course, which way the employee looks at it is down to the unknown factor X.
X is whether the employee is able and has the balls to run their own business.
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