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VentureSocially.com is a simple and straightforward website where entrepreneurs may create an account and develop as many pitches as they want. The entrepreneur then provides the link to the pitches to venture capitalists or any other investor themselves, or waits for investors to visit the website and make offers for funding. The entrepreneur may compare the available bids to fund for the venture from the venture profile page and accept the bid online.
The role of VentureSocially.com ends with the entrepreneur accepting the bid for funding. The legal aspect of the venture partnership has to take place independent of the website.
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VentureSocially.com has a simple and easy registration process. Any user can create an account by providing the name and email address and then setting a password. The email address doubles as the login ID.
It is possible to upload a detailed user profile later through the profile page and import contacts from emails and other websites.
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Creating a Venture is a simple process of entering the venture name, selecting a site name (xxx.venturesocially.com), and describing the concept pitch. Optional fields include external URL of the venture, founded date, category, and country of incorporation.
The next steps in creating a venture include:
1. Creating a venture pitch desk or a detailed pitch. The sub-heading in the venture pitch includes:
- Elevator pitch
- Description of the product
- Business Potential
- Profit Forecasts
- Investment Required
- Expected Returns on Investment
2. Creating a product profile, with the following sub-categories:
- Product appeal
- Product surveys
- Product development
3. Uploading marketing and selling information that includes specifics on:
- How to sell
- Who will sell
- Sample sales pitch
- Pricing details
4. Attaching facts and figures, such as:
- Break-Even Analysis
- Projected Profit and Loss
- Projected Cash Flow
- Cash Flow
- Projected Balance Sheet
5. Adding founder details
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- Editing the pitch, venture information, and founder details
- Adding and editing videos and thumbnails to the pitch
- Previewing the pitch
- Viewing and taking action on the bids received
- Viewing statistics in terms of weekly and monthly visits, and geographical spread
- Deleting the Bid
- Setting Privacy Levels: Options include:
- Private, that blocks everyone from viewing the bid, used when developing the bid; Selected Contacts, to show it only to selected individuals;
- All contacts, to all contacts of the user, but not to the public;
- Email-secure URL--VentureSocially creates a URL for the user to mail to potential investors;
- Public--Open for all viewers; and the default setting
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VentureSocially has an active presence in Twitter where it posts regular updates about the site and new ventures.
It also maintains an informative blog that provides useful resources for entrepreneurs. The blog provides resources such as how to create effective elevator pitches and similar ideas.
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This VentureSocially review reveals it as a brand new website that draws its power from its simplicity. Its strengths are the clean and professional design, the quick video tour that explains the website, and the structured way of presenting ventures that help both the entrepreneurs and investors.
The website nevertheless has considerable room for improvement. For instance, the website remains silent on what happens after the entrepreneur publishes the pitch, or how VentureSocially promotes the pitches posted in the site to possible investors.
This article is an independent review of venturesocially.com
The images are screenshots of the VentureSocially website taken by the author.