Aurora

[Tony Hardie-Bick]

On 09/12/12 11:12, Martin Naef wrote:
> Hi Paul,
>
> Throw in some more money for setting up your own limited company, and
> set aside some more for warranty works. I think $3000 per instrument is
> more realistic if you want to be in a range where a systematic defect
> (say an electronic component in the voice board that's out of spec and
> dies within a year) doesn't immediately move you into bankruptcy.
>
> Not that I'd want to discourage anybody, but with a project in the
> quarter million range, I'd rather make sure your business plan is solid
> and you balance your risks against your profit.

My best advice would be to partner with someone who has experience in
business.

Finding someone with 250k to invest is not difficult (the biggest problem is
that most want to invest much more, and cannot spend time evaluating 
numerous
smaller projects). A friendly uncritical investor can be your worst enemy,
because they can keep you going for years, without ever knowing or alerting
you to missing fundamentals; you need a critical investor you can also 
trust.

That's two people. It's great to have support and encouragement, but we, on
the bar, are talking about music and technology. The business side is 
equally
intricate, subtle, and full of nuances (like tech) that change from week to
week, and you need someone sensitive to that, and who enjoys it, and who has
enough motivation to get through difficult times.

There also needs to be complete trust, with all the people involved.

I kinda held back on mentioning any of this, because I truly believe Paul
has some good sounds, good circuits, and a very unusual level of 
determination
(but also some fears and uncertainties), and this is a slightly unusual 
situation.
But while I can recognise these unusual positive qualities, I can also see a
gaping hole in the way this is going forward commercially, even though 
I'm not
a business guy myself; I have been involved in many situations where these
parameters are being tested, sometimes gently, sometimes more brutally.

A bit more determination, and some adidtional key people (one or two),
a strategy, and less talk of doing it for fun... actually are what I'd 
need if
I had an eye for investment.

As for trust and respect for Paul, that's the cornerstone, and a rare 
one. It needs
to be complemented by the missing experience and skills.

Tony (HB)