What is your idea?
Merrows, a start up company from 2003, is trying to raise money to grow the company. I, Trevor Oakley. started
the company in August 2003, and registered it at Companies House, and for VAT.
I am the only full time employee, and in January 2003, the company's first part time employee (bookkeeper) started.
Merrows has always used Indian contract labour for data entry, and currently (February 06), one operator is engaged.
For several months, I have pondered how to raise money, and conventional notions of Venture Capital and loans
crossed my mind. You can read later how they cannot be realised. After hearing of the success of Alex Tew,
the undergraduate student who raised $1,000,000 and after my brother talked me into selling advertising space,
I have started the Merrows Collage.
Under my power Merrows has grown into a 70,000 page website, £90K in quartley sales, in just over two years.
During this time, I have done almost all the work in company, which has included the following:
- Writing Zenoware - software to catalogue/index websites - totally Object based
- Fitting a shop in Westcliff with several bathroom suites
- Data Entry correction of Indian work
- Handling shipments, deliveries, packing of boxes
- Market research, attending trade fairs
- Sales via phone and in person
- Returns, administration, accounts
- Advertising, recruiting
The real worth in the production is Zenoware and my product knowledgde. Zenoware can easily produce a million
page website and has the following features:
- All indexes of web words internally, with options to filter
- All invoices, purchase orders, receipts automatically generated
- All catalogues produced automatically
- Data entry is checked by Zenodata, a module of Zenoware, for correctness
The entire website is automatically generated, and can be converted from SQL SERVER to ORACLE in minutes, or from
static to dynamic presentations in minutes. The actual appearance of pages can be changed in minutes
as the whole site uses XSL and CSS and all data is via internal XML feeds.
Merrows can grow rapidly, if it has the following:
- More retail outlets to serve more areas and present more products
- More data feeds - this needs more data entry operators
- More administration staff to handle increasingly difficult accounts, filing
- Sales staff to handle more queries
- Server specialists to allow Merrows to trade on its own server - that would allow cards to be taken
by Merrows
If Merrows can raise more money, it will grow, and the Collage,
considered one of the founding aspects of raising money for Merrows, will
get more profile. That will provide a return to advertisers.
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Who are you?
I am a veteran software engineer with 20 years engineering experience. I am also a graduate in Physics,
a postgraduate in Control Systems and Information Technology, a former researcher in Intelligent
Algorithms, an EDS Systems Engineer graduate (Ross Perot's training), and former
outstanding employee of the year for EDS (UK division).
I have worked with most common software technologies from COBOL to c#. I can probably write code in a
100 programming languages.
My career took me around the the world, and I lived in several larage business capitals such as New York, Amsterdam,
Frankfurt, London, as well as residence in countless other cities.
Now, I live in Southend-on-Sea which is close to my home town. I have no plans to travel. I would like to see
Merrows grow into a strong company.
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Are you genuine?
The whole proposal is completely genuine. If Merrows gets stronger, the Collage profile will strengthen. The feedback from
customers is normally very positive, and I have no doubt at all that if Merrows can get funding, the company
will go a long way.
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How did you come up with your idea?
I was driving in Westcliff a few weeks ago, and I heard an interview with Alex Tew after his site was attacked.
I did not really pay much attention to the interview, I just thought "another rich guy." When I said
about it to my brother, he said I should try and sell advertising space. I still did not think much about it.
Everyday I use http://news.google.com and look at the Business and Technology stories. I was surprised to see a string
of sites similar to Tew's site. I still did not think much about it, until I saw many of the "copy" sites were
selling a lot of advertising space. I read the blogs, and it was clear that the concept of advertising in small
squares was born.
After pondering again, how I could raise capital for Merrows, I considered Tew's idea. The idea was too
plain for me to use. Tew had just used a rectangle, and the Tew site had almost nothing
except advertising - like a TV channel with mainly just advertising. Therefore, I needed to adapt Tew's idea. I decided to use my company name (MERROWS) and sell space
in the letters. It would be a collage for the lifetime of Merrows.
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Why do you need money for Merrows?
To grow Merrows, Merrows needs the following:
- Van for deliveries, £10K for long haul.
- Additional outlets (shops), £20K/year per shop.
- Data entry staff, £12-15K per person
- Sales staff, £20K per person
- Warehousing for imported goods, £10K for space, plus £20K goods
The above will cost a lot of money.
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What will you do with the money?
A van is the top priority, and then a new shop outlet. After that, 2-3 employees are needed. I want to
import as the market is strong, and that means buying containers of goods from Eastern Europe, China, or Turkey.
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Why buy a place in the Collage?
Merrows will grow, and that will increase the visibility of the Collage. Merrows gets filtered
visitors - shoppers. Web professionals know type of traffic is more important than volume. The Collage
will potentially be seen by thousands of shoppers. That will offer a return to advertisers. Also you as an advertiser
will be associated with a company which stands on quality and sells some of the finest goods in the world. They range
from Persian rugs, to handcrafted gold taps. I have been told by countless traders that I have an "eye" for quality.
Association with Merrows will be a privilege.
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Is a square too small?
No, size can be adjusted online using ZOOM - a feature of Flash. Also a linklist will feature the
advertisers which made the Collage possible.
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How long will the Collage be online?
The Merrows Collage will remain online for the lifetime of Merrows.
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If you want money for your company, why don't you get a loan or VC?
To seriously expand business, a lot of money is needed. Loans can be used for small ventures, but major expansion
as I plan, needs major investment. It is illegal to advertise for private shareholders, so that option is closed.
Venture Capital is normally for sums involving millions, and aimed at the VC taking over much of the management.
I don't need millions, and I don's want a lot of lawyers and business types taking over my company.
Merrows has a simple vision: to supply to anyone who can buy something. I want Merrows to sell foodstuffs (organic),
furniture, lighting, and more. I hope one day that Merrows will sell in Asia, and one day peope everyone will
be able to buy food, water.
Merrows is not a money making machine - my vision is far beyond that. It is about changing distribution
so buying is easier and more choice is open to customers.
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What makes Merrows different/unique?
Features of Merrows:
- Merrows sells offline and online
- The company has a strong technical basis
- Merrows wants to expand into new markets and sell a range of goods
- Merrows wants to import
- Merrows sells specialist items which require expert knowledge
The features taken as one, make Merrows different.
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