start-up about to go bust - my options?

pramsay13 · 11 September 2019 at 10:02AM

I wonder what percentage will confirm as paying customers after free trial.
I'm sure there's a high percentage have no intention of continuing.
If you are struggling to deal with the 800 free trials you maybe need to rethink your model. Maybe only have a certain number of free trial places that you can realistically deal with.
It will do no harm if people have to wait or be referred etc.

00ec25 · 11 September 2019 at 10:13AM

Jock1 wrote: »

I’ve been trading for a couple of weeks and have had 800 sign-ups in the last 10 days since putting out the free trial so it’s becining a bit overwhelming. I need help with managing customer contact and the money is required for indemnity insurance and to pay a software developer. I work full-time so this was a side project and still is, so seeing if I can sell or get a bank loan without it affecting the personal side of things for now, as I’m a new to this game.

so you have only been running for a few weeks, you are in full time employment, but you are unwilling to spend £1 of your personal income on the start up costs of the business?

on what possible basis do you think a lender would offer money to you in that case? The owner wants no risk but wants the lender to take all the risk.... ?
The only place you'll get that is crowdfunding, or peer to peer, where many investors have no idea at all how to asses risk

Mistral001 · 11 September 2019 at 12:00PM

I think the OP has to have confidence in his/her business. If they have confidence in the business then that could mean working 8 hours a day after your day job and at weekends, It could also mean taking all your annual leave now, or even leaving your job. Many start-ups actually make such commitments because they believe in the business.

start-up about to go bust - my options?

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