May 13th 2009….I’ve been pretty busy since one of my team members pointed out that we could submit our business plan to Stanford for funding. We have a couple team members finishing up their masters at Stanford which makes us eligible for their funding cycle.  They’re not offering up much, maybe $20k or so, but that’s enough to jump start the pre-launch campaign and get a digital product demonstration together.

I’m feeling kinda apprehensive about submitting the plan, since it won’t be completely clean, but its always better to try than to pass up opportunity (unless of course you have not completely developed your vision).

I’ll keep it short today because tomorrow I have plans to hit up some Karaoke in K-Town with some broadband industry folk. So I’m gonna organize my thoughts, always want to be on my toes when I meet other people in the industry.

This isn’t a retro post…this is my first current post haha

We were down in Manhattan Beach,CA last night BBQ’n and the whole Motown thing came up in conversation, as a couple of our friends wanted an update on MI’s progress. One of them pointed out something very interesting.  Apparently, without even having capital on hand, I can obtain a valuation for Motown Initiative.

One of our other friends actually got valuation for his start-up by presenting his business plan alongside some basic webpage examples.   I think if I take the time to refine my webpage wireframes as well as the appearance of the business plan Motown should be able to seek out valuation. This is exactly what we need to further pique the interest of some investors.  Without a fully functional product, market traction (aka your support) and valuation are key.   (follow jump for more)
Read the rest of this entry »