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Company: A.B.Scharf and Company Ltd.
- General Information
- Job Type: Other
- Location: USA
- Contact Information
- Name: Alan Scharf
- Email: email@example.com
- Address: Alan B. Scharf CPA
- Website: http://sites.google.com/site/abscharfandcompanyltd/
I have a start-up ecommerce / music site targeting a special niche. I am having some problems getting my web developer overseas to complete tasks on time and believe I need to make a change. I am on very limited budget. The proof of concept website has been done for 6 months we need to create our social network and integrate it with our existing music concept site and finish the music search and transactional portion of the website. Programming has been in PHP and MYSQL and I have source code. HTML5 will also be needed and the site must work on both desktop and mobile devices.
Here are the functions needed for the site:
- music streaming
- ecommerce buy and sell music and other things
- social network
- compliance with royalty payment laws on music and royalty payment audit trail and report creation
- interface with music and metadata content suppliers via API's and/or cache methods
- design is pretty much outlined and done already but refinements needed
- database creation and management
- categorize and arrange the music content with metadata a certain way to facilitate sales
Our concept is being very well received but am not funded yet and being told that must get site active to get funding ..need to show traction by getting the site up and running. We are seeking venture capital money from various sources. Below are examples of venture fund replies to viewing the proof of concept site. The response had been encouraging about the concept and niche for eventual funding per below:
Thank you for keeping us in the loop. While we continue to believe that the premise for the business plan is interesting, this opportunity is not a good fit for us at this stage. As we noted last November, we typically invest at a later stage of company/product development, especially in a sector like music which is highly competitive. As such, we would not likely get involved until after the product has been launched, you are generating revenue and have material engagement metrics/traction with consumers.
Thanks for thinking of us. What your company is doing is interesting, but it doesn't fit the strike zone of what we are looking to invest in at this time. Good luck.
Hey Alan - Looks interesting. Not a fit for is at launch / seed stage, but happy to take another look after you have a little more time in market.
The idea is sound but I don't see funding something like this till you have built a mvp and can show that folks in your target market will use it. Thus I recommend go build it, test it, and once you have numbers look for funding.
My business associates include internationally known artists and music executives, who will activate and get much more involved on the team once I get the site up. More to follow if you sign an NDA.
Compensation wise, I can only offer a contingency fee plus stock options (piece of the action so interests align) with the fee to be paid and when we fund. Conceptually, if interested, my thought would be to negotiate a fair fixed fee per stage for project completion which would be paid from operational cash flow and/or immediately when funded and allow, at your option, the investment of all or a part of the fee into stock in the company at same price per share as first round funding investors are getting...usually pretty good price for the investors. If able to go public or if website does well, shares would be worth quite a bit. Idea is unique.
Also, will need ongoing party to maintain the site, etc.
Been working and researching on this for 2 years and need help finding the right person as I am not a techie person. My credentials are on my website below.
Thanks for your time,
Alan B. Scharf, CPA
A.B.Scharf & Company Ltd.
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