Start Garden
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As an expat and native son of Grand Rapids, I'm curious what you all think of this Start Garden initiative: http://startgarden.com
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Reading more about it, I would strongly advise against taking a $5,000 investment in return for 3% equity. You could get better terms from venture capital, which are among the worst terms imagineable.
If you need $5k to start your business, save up, raise the money from friends and family (they can be investors) or get a loan. Chances are you either don't need the money or need a lot more than $5k.
If you're willing to part with 3% of your company for $5k, thus accepting an effective valuation of around a mere $166,000 when it's just an idea, you should probably just work for Amway. -
My thoughts:
Devos? GROSS! -
I don't really have an opinion of it. And, in the long run it doesn't seem like something I will probably care about.
Dude needs to stop rhyming things with fart, though... -
It looks like the first 5k is just to get the idea going. If the recipient can turn the idea into something more substantive, the support increases.
I'm not sure the time-frame is appropriate. As someone who is starting something of my own, two months goes by in the blink of an eye.
Depending on where an idea is its development phase, KickStarter might be a better bet...getting the support of the masses rather than the few. It is May Day after all...
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