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Calladen Nimitz
Caldari Sovereign Labs
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Posted - 2006.11.15 20:11:00 -
[1]
With all the different IPOs coming and going, the scams, the failed starts that dont get off the ground, I decided to try writing a little tutorial here for flegling industrialists. If you see something to add please let me know and I'll edit it.
INTRODUCTION You've been playing Eve, building stuff, trading stuff, and you are starting to make a bit of cash. You think "if only I could make more" you could do more. The old addage "it takes money to make money" has never been as true as it is in Eve. So you do some research and stumble into the "market" forum. You read about IPOs, you think "hey good idea". You make a post, maybe write a few paragraphs, post it.
And get blasted from every direction......
What happend? Well for starters you didnt do your research into IPOs in an Eve sense. You may have the most brilliant idea for making money Eve has ever seen but having the idea and putting it across for review is an entirely different issue.
So what do you do? Well go back to the drawing board and try some of these tips.
1. Corporation Name. What does your corp name say about what you do? Is it a good name or "lewtco" name? Does it portray professionalism?
2. Your Name and Reputation. Perhaps the most important thing an investor looks at is WHO you are. Are you someone bought 3x on the sell order board? Are you an ebay character? Are you a two day old alt? Well if you are you're going to be scruitinized to no end. Expect it. Dont be offended by it. Its the way it is. And if you are a well known character still expect to be questioned and "investigated". With the rise of scams and other issues this is prudence for the course. Its nothing personal its business and something necessary.
3. Business Plan. What is your plan? How will you make money? What are your assets going to be? No you dont need to give detailed specifics if you have something new but at least a description helps people understand. Likewise finding a trusted neutral part to reveal your plan to confidentially to get an "OK" on its viability will help as well. People want details though so be prepared BEFORE you come to the table. You shouldnt have to make it up as you go you should be ready for questions. How will you make money? Who will fight for you if necessary? What happens if xyz happens? What are your salaries? Details matter. Also how realistic is the plan? By talking about it you may find others have tried it in the past and have some insight for you.
4. Presentation. As said in number three above a business plan is essential. But how you PRESENT that plan is equally important. Do you have one sentence on the forums? One paragraph? A website? A 20 page ipo document? A chatroom? A corp forum? What do you have? Its true in the beginning days of ISS there werent alot of these things but post-EIB and Prigone you can bet people want specifics and want a good presentation. Coming to the forums with a couple of sentences asking for 20b isk is going to get you forum-ganked by the market masses here. Be prepared.
5. Criticism. Be prepared for some criticism. Sure some people may troll your post but some people may have real concerns. Be aware that their questions may be "accusing" in tone but in reality are just that... questions. People have questions before they invest millions so be prepared and be WILLING to answer them.
SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS |
Calladen Nimitz
Caldari Sovereign Labs
|
Posted - 2006.11.15 20:12:00 -
[2]
6. What If. What if is a big category. What if you have to go on vacation for two weeks, what if you have to leave Eve, what if the corp folds, what if your war decd, what if...... you get the point. With a decent IPO document/charter you can explain in advance what happens in "what if" situations. If you've gone back 20 pages in this forum you've seen instances where honest respected people are still "called to the carpet" becasue something happend that wasnt expected and because it wasnt written down the solution was questioned. Dont get into that situation. EVERYTHING you can think of needs to be documented.
7. Communication. Communication is imporantant for people. People like to know where their money is and what its doing. Ive seen corps here get an IPO going and promptly vanish for four weeks before suddenly reappearing and paying a dividend. Sure they paid on time but what happend to them? A little communication goes a long way. If you're going on vacation or just need a break COMMUNICATE in some way with your shareholders. Let them know. I find weekly "update" posts here on the market are a good way to do this. Few people ever reply to them but at least they're reading what I'm doing with their money. That knowledge is power for the shareholder.
8. Oversight. In the world of Eve the CEO really is God. I know in my own corp charter I included "the CEO is God" clause in the end. The sad reality is CEO's can steal everything. Still oversight is nice to have. Start a Board of Directors. Sure they have no "power" but are advisors who can help. Give them a small salary and access to private forums and ask them questions. Find the best and brightest in your field and dont be ashamed to ask "what should I do" or "how does this look". Be open to suggestions and willing to change. Oversight also gives the shareholders the feeling that it isnt just the CEO doing everything.
9. Sense of Belonging. If you're going to make major changes involve the shareholders. If you think you'll need a 1b piece of equipment ASK them to talk about it. Sure as CEO you could just go out and buy it but isnt it "funner" to actualy be a public company and vote on it? I think it is. Give the shareholders a voice in the company. In the end you're the CEO and you'll make the decision but that sense of "belonging" is nice for a shareholder.
10. Honesty. When it all comes down to it honesty and trust are two things that make all the difference in your IPO. If you're honest with your IPO, honest to admit mistakes in your plan and fix them, and honest in your history of gameplay people may invest with your company. If they do remember the honesty doesnt stop once you have their money. If you have an issue and need time off TELL THEM. If you are having problems TELL THEM. Dont let them read about it on some alt created character forum post with a slant against you. Be honest.
Those are just the first ten I could think off. Add more and I'll add them to the list. Maybe the mods can sticky it if its deemed good enough.
Calladen Nimitz
SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS |
Calladen Nimitz
Caldari Sovereign Labs
|
Posted - 2006.11.15 20:12:00 -
[3]
Reserved space for additions.
SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS |
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