Raising £1m

[ScottNicol]

Just having a chat with a friend yesterday and we asked each other the question of, what would be the easiest and quickest way to raise £1m if you needed it without borrowing from a bank and so forth. Anyone come up with any ideas? There was a couple of ideas that we came up with but would like to here other peoples opinions on how they would do it.

[LeTim]

If you have a decent business idea/ IP you might be able to get that level of funding from a Business Angel Network.

[JustinP1]

It completely depends what the money is for.

As has been said, investment is a possibility but a mil is a pretty serious whack for all but the biggest 'angels' and as such may put it out of the 'quick' category.

There were a few guys from Harvard a decade ago who were card-counters and went though Vegas and Monte-Carlo before getting caught!

Depending on what the money is for and what the idea is this may be a better bet!

[ScottNicol]

it was just an question, ie if u wanted to get £1m in ur account in say 8 weeks time, how would you go about it ? so that u didnt owe anyone any money or didnt have any debt to clear off. its a hard one but i know people that have done it, just wondering what other people would do to get the money.

[Hobo]

Selling organs, stealing, blackmail ?

[japhilip]

If you don't want to owe anyone then I guess you have to earn it!

Otherwise, try a venture capitalist.

[smartie]

learn to play football well?

[LeTim]

ScottNicol said:

it was just an question, ie if u wanted to get £1m in ur account in say 8 weeks time, how would you go about it ? so that u didnt owe anyone any money or didnt have any debt to clear off. its a hard one but i know people that have done it, just wondering what other people would do to get the money.

It's actually an interesting premise.

Supposing you start with a stake of £100k and have 3 weeks to increase the value ten fold, without resorting to extreme gambling. i.e. sticking it all on black in a casino.

Anyone got any ideas?

And no, buying for BTL flats doesn't count as your not allowed to end up in debt.

[JamieBeeston]

if people had ideas that worked, they wouldnt be here posting..

Mobile recpeption from the yachts is patchy!

J

[becker-ph]

LeTim said:

If you have a decent business idea/ IP you might be able to get that level of funding from a Business Angel Network.

Tried this once - also tried the VC route - its not as easy as it might sound.

[clubsport]

Easy! http://www.bbc.co.uk/dragonsden/

or maybe just contact Bannatyne directly

[becker-ph]

clubsport said:

Easy! http://www.bbc.co.uk/dragonsden/

If you're prepared to handover an arm and a leg for the £10 investment

clubsport said:

.... or maybe just contact Bannatyne directly

If you don't mind being thrown off an aircraft carrier!!

Edited by becker-ph on Tuesday 6th November 18:23

[Pappa Lurve]

becker-ph said:

LeTim said:

If you have a decent business idea/ IP you might be able to get that level of funding from a Business Angel Network.

Tried this once - also tried the VC route - its not as easy as it might sound.

Both are tough routes to go. The issue is that a million is often two big for a single angel but to small for many VC's. Depends what the idea is though. I have been involved with one project that raised more than that in 6 weeks from start to finish but most have taken 6-12 months.

If it is for a business, I tend to beleive the best route is to multple rounds with specific investor and values for each one.

[Mattt]

JamieBeeston said:

if people had ideas that worked, they wouldnt be here posting..

Mobile recpeption from the yachts is patchy!

J

I wondered why Ted hasn't been posting as much recently!!

And just so you know, i'm oot.

[LeTim]

becker-ph said:

LeTim said:

If you have a decent business idea/ IP you might be able to get that level of funding from a Business Angel Network.

Tried this once - also tried the VC route - its not as easy as it might sound.

I used to co-run a large BA network, that would have covered your region. The problem IMO is that you need to get a well respected angel to invest then the others will follow, and they'll only invest if they can see the potential exit and return of their cash + profit in a realively short time.

Anything medical was a mare to get funding for, and fasion played a part so .coms were hard to promote, the best response I ever saw was to a firm with an exiting product ( rubbish eating machine ) that wanted to expand, had a customer list and a good patent.

[JOETHETOE]

Probably not possible unless the raised money is secured against something, i.e equity in an idea, a property or whatever.

At the moment even more so lending parameters are tighter than Mick Jaggers trousers