Business Proposals
In order to help you as best we can, we follow a similar process with everyone who approaches us with a potential business idea. Here we explain the stages you need to go through to turn your idea into a working business with BUBAs help
Step 1
You: If you have an idea already, you develop it to the point where you have a clear idea of what you want to achieve and are excited about making it work! We advise you to try and answer as many questions as you can from the 'My Idea' section of this site. Then give us a call! We will arrange a formal meeting with you to discuss your business proposition and take it from there! If you don't have an idea but are a keen entrepreneur, visit www.bristolentrepreneurs.co.uk. The Bristol Entrepreneur society organise a lot of events you may be interested in which can help you generate some ideas and meet some cool people like you!
Us: Once a meeting has been arranged, we will listen to your idea and advise you on all aspects of your business, answer any questions you may have and guide you how best to proceed from here.
Step 2
You: Depending how far along you are on the development stage of your idea, there are a 2 options: Option 1: Your idea is amazing and is ready for investment. In this case you would meet with the project owners to discuss investment options and how to procced. Option 2: Your idea is in development but still needs work. You would work on the idea with your BUBA project coordinators to develop the idea to the point of investement. This is a continual process where you meet up on a regular basis and analyse exactly how and what needs to be done.
Us: We will discuss your project internally and make a decision on the quality of your idea. We will assign one or two members of the BUBA team to act as project coordinators for your idea. Most likely at this stage, your idea will need a bit of work before it is ready for investement. If that's the case, the project coordinators will provide you with usefull advice, contacts and generally help you develop an investable business. Once your idea reaches the investment stage (or if your idea is investable straightaway and that's what you're looking for), the project owners will take you throgh the necessary steps to have the best chance of success.
Step 3
You: Finalise the idea and prepare to pitch your idea to a panel of investors.
Us: We will help you prepare a pitch and help you with any final aspects of your idea.
Step 4
You: Pitch to the panel of investors (dragon's den style!) - This is the BUBA team and James Lancaster from the Research & Enterprise department.Us: The investment team will listen to the pitch. The project coordinator may assist you if he/she feels like it's not going well. We then have an internal discussion about your business and decide wether to invest or not.
Step 5
You & Us: Post investment, BUBA team members can remain involved with the business. Exact circumstances of this would idealy be discussed with the entrepreneur and a mutual agreement reached regarding stake options or similar propositions.