Target market appears to be mom and pop looking to retire and consumers.

I have some questions about market potential.

For example, the cash from selling a business usually represents a significant portion of a mom and pop’s retirement nest egg.

Most do not want the business to become a ball and chain around their neck by holding paper. They want the money.

How many ex-friends are there who owe their ex-friends money? What is probability of collecting on judgment from small claims?

How hard is it to evict someone who might then become a squatter?

Moreover, how do you plan to make money? Will consumers be willing to pay transaction fees great enough for you to turn a profit (i.e. 5 percent or so)?

Who is running this drama show? Is it you or the artist that is supposed to be head of studio?

A business needs a leader capable of delegating and managing.

Missteps

- Head of studio has “…no formal agreement with the writer”

- You made agreement with writer instead of head of studio

- “….paid royalty advances….”

- Continue to allow writer to miss deadlines without recourse

What does head of studio do? Draw cartoons all day?

You committed to co-develop and publish not manage the business of studio.

Head of studio should be directing and controlling studio operations and development of its game/product.

I’m a consultant who works mostly with start-ups to make go/no-go decisions.

Passive income is often defined as income acquired with minimal effort.

IRS says passive comes from rental property or royalties or stock.

So, I’d say the simple ways would be to buy stock, buy interest in a franchise company, or become a slumlord.

If you want location-based store, you have to find a suitable location, create a storefront, and then drive traffic to it.

A real estate agent and/or industry consultant can help you find suitable location.

The most inexpensive way to create storefront is leasing a space and outfitting it for the type of business.

It might cost $100K or more for renovations. You will also need inventory and capital to cover monthly operating expenses until the business is cash flow positive.

Consequently, you may be facing start up expenses of $200K.

If poor, you may find this a mountain too high to climb.

As mentioned, alternative is to start small with something you can actually budget for.

Does solution solve unique problem and does solution have great value.

Do families have problem managing tasks?

Cut grass, grocery shopping, wash car, take out garbage, wash clothes, etc.

I write a list on piece of paper and then delegate. What’s to manage?

Would I pay for this app? No, it seems more trouble than its worth and another icon to take up space.

Great value would be parent app to help lazy ass kids to become more productive or more patriotic.

When the concrete dries, so to speak, correcting mistakes gets real expensive real fast.

“….business isn’t even in a good location….”

“….only has summer traffic.”

“….her business isn’t doing very well.”

A book isn’t going to help. She needs to engage a retail consultant and get that person “on-site” to determine if there are any practical ways to improve upon the poor location.

Otherwise, she may have no alternative but to bite bullet on lease and find a suitable location for the store.

Most often it’s ignoring the fundamentals.

For example, trying figure out how to borrow money without first determining if the concept or idea can support debt.

Start up a business without understanding basic accounting and financial principals or business math (i.e. break-even).

Frequency every other day weather permitting.

Warm up (push ups, hamstrings, back) then 20 hard miles on bike.

One attribute of small business is the ability to cover its monthly operating expenses.

Consequently, one of the fundamentals of starting up is having sufficient capital to cover operating expenses until the business is cash flow positive.

I can’t think of a legitimate business that could be started for $500 and meet this criteria.

For example, it is possible to start mobile carwash business for as little as $500 and work out of the trunk of your car. However, most end up spinning their wheels and go bust.

Experience shows it takes at least $10,000 to start up mobile carwash that has chance of being sustainable.

There is no shortage of software developers. So, technical viability is not the issue.

If investor, I would ask first why you have stood in the way of progress.

After all, “….if not billions….” has been sitting on the shelf for several years.

Is this market really viable?

How is this app going to generate millions or billions in several years?

Work smart and save money for the rainy days.

$10 isn’t much of a difference.

I would look for practical ways to make a $30 boot for the cost of a $20 boot ($10).

If vertically integrated, they must go hand in hand or brand will suffer.

In my industry, no one can afford to make a bad product because the competition is too great.

You can make more money selling used cars without the hassles of importing new vehicles.

A lot of people are being priced out of new car market. Also, interest rates aren’t going anywhere soon. So there is money to be made in buy here, pay here.

To paraphrase Mr. Wonderful, does your solution solve a unique problem and does the solution have great value.

The paper clip was great idea. Take short length of cheap metal wire and bend it around a couple times to hold pieces of paper together without punching holes in them.

However, paper clip has little value because you have to sell millions of them to make any real money.

So, you need to identify consumer need and then determine if your solution has great value (sales potential).

For example, someone figured out some people are pretty lazy so why not start up app-based food delivery business.

Such businesses exist, but most are having a hard time turning a consistent profit.

Casinos

Since it’s a friend, I would charge $3,500 to 4,500 for whole shooting match; 50 percent down, 50 percent on delivery.

I would charge maintenance fee on as needed basis.

Stick to the books and get a job in store. This way you will make money and get to learn about how to business is managed or mismanaged first hand.

Get a job. New environment, new people.