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by jawartak 5601 days ago
'Put together a business plan to raise the $1million needed to take it from an idea in your head to an actual business'. How would you possibly spend $1M simply getting a Groupon clone started?
2 comments

Facebook and AdWords Content Network ads to get email submissions. (If you want 10k strong opt-in email lists in each of 10 cities for your early adopter set, that cost cost you $100k by itself. More as GroupOn and competitors grab the low hanging fruit of signups and cheap ad inventory.)
Website design and development, sales staff to get the deals to populate the site, customer support staff to keep customers on side, system administrators, a marketing person or team, advertising, PR, office space... the list goes on.

Sure it doesn't cost $1m to get a Groupon clone built in php on elance.com but if you plan to succeed in an increasingly crowded space you're going to need money.