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He says cash-flow analysis is vital."A common error businesses make is to ask for too little financial support in the hope of getting at least some of the funding they need," he says."But this is potentially a recipe for disaster."Your website Websites will set you back varying amounts. "While a basic one could cost as little as £500, a really good one that dominates the market could cost up to £20,000."If building your own website is not an option, try searching for web designers online, or ask friends and colleagues for recommendations, says Nick James, a small-business consultant and the founder of Nick-James.com, an online club for entrepreneurs.
"But with no 'shop window' through which to promote yourself, how are potential customers going to find you?
"Sites such as Google Ad Words can be a cost-effective way of advertising, she says.
After making a strong pitch, she received two offers from the dragons.
But in the end, she decided to turn both of them down.
If you've ever had an idea for a product or service that you think could net you a fortune, you may well have considered setting up an internet business with the aim of sitting back and watching the money roll in.
After all, in 2006, consumers spent £30.2bn on online goods and services, according to IMRG, the industry body for global e-retailing.
Business angels are wealthy individuals who look to invest in growing companies wanting to raise between £10,000 and £250,00. Venture capitalists will only invest – usually a minimum of £2m – if they can see a significant return in three years, say.
For internet start-ups with a sound business proposition but without the necessary security to obtain conventional lending, the Small Firms Loan Guarantee is another option, according to Steve Jennings, director of business banking at Alliance & Leicester Commercial Bank.
The internet has certainly revolutionized the way we live our lives, and offers a place where individuals can compete with global organisations. Your business plan The starting point for any new venture is to create a business plan, says Tony Cohen, the head of entrepreneurial business at Deloitte."You need to know your target market, know your competition, attract funding, secure good resources, build consumer loyalty – especially blogger coverage – and forge alliances with strategic partners," he says.
"Preparation and research are key."Jeffrey Macklin from FDUK, a company that provides part-time finance directors to start-up businesses, says the objective of the business plan is to tell a simple yet compelling story that leaves the reader wanting to meet the management team and find out more about the proposition.
That said, while starting up an internet business can be one of the toughest things you ever do, it can also be the most rewarding."Julie White, 38, of Milton Keynes, set up her own internet business, Truly Madly Baby, in 2005 after she had given birth to her son, Samuel.Tags: Adult Dating, affair dating, sex dating