Does anyone want to invest and start up KungShoes.com with me?

[CCA-Dave]

Originally Posted by HondaCRZy

Thank you Dave, a much more mature response than those posted out there helping me look at things from a different perspective.

I definitely need a mentor, someone who has started up several businesses on their own and with people to help me get going on my very first one. It is like me trying to ride a bike and be falling many times and people laughing at me, without even getting the chance to even gain balance.

No, you don't need a mentor to start your own business. You need to work for someone else to learn about what running a business entails. You aren't at the bike stage yet. In fact, you're not even at the tricycle stage. You're at the looking-out-the-window at the experienced kids stage saying "I want to do that". But before you can ride a bike, you need to first learn to walk...then learn to ride a tricycle, THEN learn to ride a bike.

The walking stage: Working for someone else, even a shoe store in the mall, will teach you far more than any mentor has time to teach you...if you're smart enough to learn and watch, and work hard. You first work in your industry of choice, learning and sucking up as much of everything you can possibly learn.

Then, after you have real experience. And I'm talking to the point where you've worked so well you're managing the store, the boss is sending you to conferences, you know who the suppliers are and how shipping on a large scale is made. THIS is the tricycle stage. You understand every tiny detail from what country the textiles are made in, to where you buy the little stands the shoes sit on in the store. Then, and only then, you might know how you could do it better.

NOW you're at the bike stage. You've been saving all your money during the walking and tricycle stage, right? Now you get to put your money where your mouth is, perhaps your old boss is now you're mentor because he was so impressed with your work ethic he wants to see you succeed at your own shoe company. You work ridiculously long hours, invest every penny you own, and you see a little success. Then, and only then, can you start looking for investors.

Investors don't invest in a business idea or concept. They invest in people and things they can trust. They're investing in you, and your ability to run the business successfully. You want to start a business in an industry you have zero experience in, when you yourself have (what seems like) zero experience running a business. ANY business. If you had experience, you could have answered my four questions in less time than it took me to write this post. See what I'm getting at? I'm actually trying to help you here.

Suppose two entrepreneurs posted asking for help investing in their new business. You read each of the posts, and this is what you find:

Entrepreneur #1 likes cars and wants to make a lot of money. All his friends buy new wheels for their cars, so he wants to start a wheel company. He needs your help to invest in it. He owns a car, has had two others before it. He bought new wheels for all of them. 60% of men buy new wheels for their cars. He needs help with investors to get his business off the ground.

Entrepreneur #2 also likes cars, and wants to make a lot of money. He too likes wheels, and would like to start a wheel company. He has worked for 2 years at the Toyota dealership as a lot boy, 2 years at Canadian Tire and the last year at Big-T Wheels and Tires. He can tell you who the top three distributors in Canada for wheels are, and how most people choose and buy their wheels. He's found an Asian wheel supplier who will sell to him direct, can tell you how much they cost, the minimum order, where he will ship them to and how he will sell them. The retail cost on each wheel is X, and he will make Y per wheel. He figures he needs $15,000 to start the business, and is asking you to invest $5,000.

Who would you invest in?

Even #2 would probably get laughed off the forum...but at least he's got enough experience and a business concept that his friends and family might invest and he'd never need to post to a forum.

You need experience. Experience leads to knowledge (if you want it to). Knowledge leads to potential business success.

-Dave

[HondaCRZy]

Originally Posted by meme405

At least your business plan has the correct sections (of the ones that are there), but you still need to go back to the drawing board.

Your business plan, needs to explain what you need money for, and where/how you plan to spend it. It needs to have a plan on how you plan to re-pay the money, it needs to have a financial analysis of exactly how much it will take to bring your idea to life.

^And this is just a start.

My business (which I still consider within the "start-up" phase), has a business plan that is 40+ pages, and I am not even looking for investors. That plan is just so that I as an owner understand and keep my goals ahead of me.

If you are looking for investment you need to seriously sit down and spend A LOT of time putting together an entire plan outlining the ENTIRE business. Right now you pretty much have absolutely nothing worthy of telling people about.

There are sections with financials but I did not copy and paste it. The numbers, I need $2250 to start out a small test batch to purchase, clean up the website and promote the shoes to double up the money reinvest and keep going.

[twitchyzero]

Originally Posted by HondaCRZy

Well, Its in Word format, and I facebooked WWF to create a Kung Fu Wrestler, Facebooked MMA, Jackie Chan, Bruce Lee etc. I am exhausted and Im at the point I need someone to tag team in and take over for a bit to the next level of reality.

[pinn3r]

ignorance at its finest

[CCA-Dave]

Originally Posted by meme405

My business (which I still consider within the "start-up" phase), has a business plan that is 40+ pages, and I am not even looking for investors. That plan is just so that I as an owner understand and keep my goals ahead of me.

^^^^ This. I spent over 3 months this year, 8-10 hours a day working only on the 5-year business plan, for a business which has been running successfully for the last 7 years. As an owner I need to understand it backwards and forwards if I'm going to have any success.

-Dave (who also isn't 'ready' for investors...despite having sold-out, multi-year events running)

[HondaCRZy]

Originally Posted by CCA-Dave

No, you don't need a mentor to start your own business. You need to work for someone else to learn about what running a business entails. You aren't at the bike stage yet. In fact, you're not even at the tricycle stage. You're at the looking-out-the-window at the experienced kids stage saying "I want to do that". But before you can ride a bike, you need to first learn to walk...then learn to ride a tricycle, THEN learn to ride a bike.

The walking stage: Working for someone else, even a shoe store in the mall, will teach you far more than any mentor has time to teach you...if you're smart enough to learn and watch, and work hard. You first work in your industry of choice, learning and sucking up as much of everything you can possibly learn.

Then, after you have real experience. And I'm talking to the point where you've worked so well you're managing the store, the boss is sending you to conferences, you know who the suppliers are and how shipping on a large scale is made. THIS is the tricycle stage. You understand every tiny detail from what country the textiles are made in, to where you buy the little stands the shoes sit on in the store. Then, and only then, you might know how you could do it better.

NOW you're at the bike stage. You've been saving all your money during the walking and tricycle stage, right? Now you get to put your money where your mouth is, perhaps your old boss is now you're mentor because he was so impressed with your work ethic he wants to see you succeed at your own shoe company. You work ridiculously long hours, invest every penny you own, and you see a little success. Then, and only then, can you start looking for investors.

Investors don't invest in a business idea or concept. They invest in people and things they can trust. They're investing in you, and your ability to run the business successfully. You want to start a business in an industry you have zero experience in, when you yourself have (what seems like) zero experience running a business. ANY business. If you had experience, you could have answered my four questions in less time than it took me to write this post. See what I'm getting at? I'm actually trying to help you here.

Suppose two entrepreneurs posted asking for help investing in their new business. You read each of the posts, and this is what you find:

Entrepreneur #1 likes cars and wants to make a lot of money. All his friends buy new wheels for their cars, so he wants to start a wheel company. He needs your help to invest in it. He owns a car, has had two others before it. He bought new wheels for all of them. 60% of men buy new wheels for their cars. He needs help with investors to get his business off the ground.

Entrepreneur #2 also likes cars, and wants to make a lot of money. He too likes wheels, and would like to start a wheel company. He has worked for 2 years at the Toyota dealership as a lot boy, 2 years at Canadian Tire and the last year at Big-T Wheels and Tires. He can tell you who the top three distributors in Canada for wheels are, and how most people choose and buy their wheels. He's found an Asian wheel supplier who will sell to him direct, can tell you how much they cost, the minimum order, where he will ship them to and how he will sell them. The retail cost on each wheel is X, and he will make Y per wheel. He figures he needs $15,000 to start the business, and is asking you to invest $5,000.

Who would you invest in?

Even #2 would probably get laughed off the forum...but at least he's got enough experience and a business concept that his friends and family might invest and he'd never need to post to a forum.

You need experience. Experience leads to knowledge (if you want it to). Knowledge leads to potential business success.

-Dave

I have 6 plus years experience working for Canadas largest sporting goods retailer in every position except management and started my own home based tennis stringing business where I invested half my money with my friend and did all the work and burned out in the end since I was in school as well and volunteering.

Anyways, I appreciate and value your input.

[HondaCRZy]

Originally Posted by CCA-Dave

^^^^ This. I spent over 3 months this year, 8-10 hours a day working only on the 5-year business plan, for a business which has been running successfully for the last 7 years. As an owner I need to understand it backwards and forwards if I'm going to have any success.

-Dave (who also isn't 'ready' for investors...despite having sold-out, multi-year events running)

Thats good. Some people dont even write up a business plan

[HondaCRZy]

Originally Posted by StevenDuang

I would like to invest 100k.

When is Steven going to respond? lol

[4444]

Originally Posted by HondaCRZy

I can only do so much and am limited to what I am do on my own.

words of a failure, right there.

you're coming up with excuses, rather than looking for solutions.

[HondaCRZy]

Originally Posted by 4444

words of a failure, right there.

you're coming up with excuses, rather than looking for solutions.

Its called teamwork.

[4444]

i want to see your other businesses, as your facebook clearly states you're the CEO of two other companies. i'm especially interested in your mortgage website.

as for your 65% cash/35% deferred payment investment idea, why would a homeowner take 65% cash now with 35% coming later (at much greater risk of non receipt) vs. 100% now, unless you are paying a material premium, the 35% is somehow asset secured and pays a material premium, or the housing market is depressed and there is no liquidity in the market.

if it is the latter case, chances are that the 35%, which I assume is backed by a fully levered house, will not be paid dollar for dollar as the depressed market will likely be depressed in 5 years.

you say your mum made millions doing this, if so, why isn't she helping you with your shoe business, and if she's made these millions already, and is thus evidently an astute investor/entrepreneur, why is she "copying you" with these shoes in Pakistan.

In fact, why would your mum work against you, she's your flesh and blood, shouldn't she nurture your business and work with you, with her being the financier of this project?

your story has holes in it.

also, if you want to be taken seriously, tell us more about you, your education, your work experience, your life experience, your import experience. What level of duty do these products fall into, what specific category, which broker do you use to go through customs clearance? Which shipper do you use? who is your supplier (did you find them on alibaba), what has been your due diligence on them for quality, but also volume, what are your minimum monthly orders to get certain prices? what's your margin, given you claim to donate $5 from each pair - what's your proof of this (you should have proof of this as you are making a serious claim on your site, and it would be false advertising to not make that donation).

I could go on...

[4444]

Originally Posted by HondaCRZy

Its called teamwork.

you have done nothing. you have done less than what 1 person should be able to do with no money.

you are full of excuses and failings thus far.

don't be so defensive, embrace this, somewhat harsh, criticism and grow from it.

[HondaCRZy]

Well, I need $2250 to stock the Shoes for dropshipping from China for 100 pairs (50 of each kind) and someone to make the website more presentable like a real storefront, however much that costs. We can expand on products.

[HondaCRZy]

They say that its not what you say but how you say it, I need to improve on that as well.

[Inaii]

For a proper website and a store you're looking at minimum $1k. The web designers I know/have had quote me charge $2.5-3k for multi-page websites without a store.

[v_tec]

Originally Posted by HondaCRZy

Well, I need $2250 to stock the Shoes for dropshipping from China for 100 pairs (50 of each kind) and someone to make the website more presentable like a real storefront, however much that costs. We can expand on products.

- You graduated from UBC since 2007
- Worked 6 years for "Canadas largest sporting goods retailer in every position"
- Living in your momma's basement
- You're 30+ years old


Yet you don't even have $2k saved away to "start your own business"?

[4444]

Originally Posted by HondaCRZy

Well, I need $2250 to stock the Shoes for dropshipping from China for 100 pairs (50 of each kind) and someone to make the website more presentable like a real storefront, however much that costs. We can expand on products.

and what about all my other questions.

having a drop ship system means nothing.

how long is shipping from china? how much? duties - have you even considered customs clearance?

have you physically seen these shoes? how durable are they? what about consistency, you will have no control over QC or inventory - that would concern me at the start up stage. you'd want to first order inventory to ensure quality, then ship locally to ensure you build up your business name through a quality product (you can't expect to sell at a profit today), and then once you have assurances and controls over quality, move to a drop ship model, having said that, shoe customers would likely want 2 day delivery (it's what you get on amazon.com), i doubt you'll do that from china.

your business model is all wrong, let me tell you that right now. and this is from someone who has done import business on the side before, and has done drop ship (something done out of necessity, and it worked as i had controls over quality from the factory - but still, i didn't want to do this).

also, if you can't present yourself well via your words, you shouldn't be an entrepreneur - presentation of yourself and your business are vital to being taken seriously.

let's be honest here - this isn't a serious business, and you're not a serious entrepreneur. you may think you're a budding entrepreneur, but you know nothing and present yourself terribly (this is constructive criticism, not hate) - give this up, whether it's a good idea or not, you aren't executing it right - product can often be a secondary consideration if the business is executed right, but a poorly executed business could have the best product in the world, and it still won't sell.

[4444]

Originally Posted by v_tec

- You graduated from UBC since 2007

wholly shit! i thought this was some 21 yr old - graduated 7 years ago, fuck, man... this shit is smelling worse and worse!

what on earth have you done in 7 years? i only graduated a year before you... jesus!

[Inaii]

Not only that, but what is going to set you apart from all the other shoe places (primarily Toms since that seems to be who you're trying to compete with). Why should they invest with YOU instead of someone else?

So far I haven't seen you offer a decent reason on why anyone should invest with you.

[HondaCRZy]

Originally Posted by 4444

and what about all my other questions.

having a drop ship system means nothing.

how long is shipping from china? how much? duties - have you even considered customs clearance?

have you physically seen these shoes? how durable are they? what about consistency, you will have no control over QC or inventory - that would concern me at the start up stage. you'd want to first order inventory to ensure quality, then ship locally to ensure you build up your business name through a quality product (you can't expect to sell at a profit today), and then once you have assurances and controls over quality, move to a drop ship model, having said that, shoe customers would likely want 2 day delivery (it's what you get on amazon.com), i doubt you'll do that from china.

your business model is all wrong, let me tell you that right now. and this is from someone who has done import business on the side before, and has done drop ship (something done out of necessity, and it worked as i had controls over quality from the factory - but still, i didn't want to do this).

also, if you can't present yourself well via your words, you shouldn't be an entrepreneur - presentation of yourself and your business are vital to being taken seriously.

let's be honest here - this isn't a serious business, and you're not a serious entrepreneur. you may think you're a budding entrepreneur, but you know nothing and present yourself terribly (this is constructive criticism, not hate) - give this up, whether it's a good idea or not, you aren't executing it right - product can often be a secondary consideration if the business is executed right, but a poorly executed business could have the best product in the world, and it still won't sell.

Then someone else who can execute it better should take the reigns then.

[v_tec]

Originally Posted by 4444

wholly shit! i thought this was some 21 yr old - graduated 7 years ago, fuck, man... this shit is smelling worse and worse!

what on earth have you done in 7 years? i only graduated a year before you... jesus!

Ironically, he made a presentation on "Finding Your Way on The Map of Life"

[HondaCRZy]

Originally Posted by 4444

wholly shit! i thought this was some 21 yr old - graduated 7 years ago, fuck, man... this shit is smelling worse and worse!

what on earth have you done in 7 years? i only graduated a year before you... jesus!

Stuck in the mental health system

[HondaCRZy]

Originally Posted by Inaii

Not only that, but what is going to set you apart from all the other shoe places (primarily Toms since that seems to be who you're trying to compete with). Why should they invest with YOU instead of someone else?

So far I haven't seen you offer a decent reason on why anyone should invest with you.

Provide value addded features like Kung Fu Classes/Lessons etc., clothing etc.

[HondaCRZy]

Originally Posted by v_tec

Ironically, he made a presentation on "Finding Your Way on The Map of Life"

Still figuring it out, I get bored easily.

[4444]

Originally Posted by HondaCRZy

Stuck in the mental health system

do you have a mental defect? are you joking?

you respond with really stupid responses to everything, it's not helping your cause.