ninjaa

we do paypal checkout and google checkout as well ...

since you don't have any legal structure and don't want to waste time and money finagling with lawyers etc, I suggest you borrow the money at a reasonable rate of interest (say 7-8%), and defer interest and repayment (set yourself a generous repayment schedule) beginning on a date, let's say 2 months after launch, for when it converts to equity or repayment begins.

This way you have cash in hand now, and details can be worked out as the product matures. If the house burns down you probably ending up owing maybe a $1000-2000 over the initial $25K, totally worth it for the freedom IMHO.

1. get a partner if possible, esp if he/she will invest real $$ as well. if going solo, get a peer review group set up (beta users, your friend who is a web designer/technical type, your mom, target market, so on). The longer people hear about your product or service, the more likely they will jump on board as soon as it is ready. And people are really good at finding other useful people. Actively network (not necessarily like crazy, more just reality check * small multiple)

2. focus on the business, not the software (freshbooks!). This also means that if you need more than your 15K, start hunting for financing or cash _now_. Cash flow > everything else. When you're sweating laundry money and forgoing Starbucks or a pint at the local NOTHING gets done. You just have to punch past the line where you're "adding features" and instead "fulfilling business needs". A business that's bleeding red has more value than a finished product w/o customers and their attendant baggage - sales marketing support etc.

3. show off the product to many before you think it's "ready", because otherwise your baby will never be ready. Don't even think about competition until you have something competitive - and if you're in internet business, the market is big enough for everybody. Never lie, but do promote your shit to anyone who will listen.

4. Set up a proper dev and DVCS from day -1. Write functional tests so you can at least know if you break functionality while adding features. And docs rule. (Almost) always write code like you won't read it until 3 months later.

5. outsource and manage-host _everything_ reasonable

6. If it's consumer facing software and not middleware - UI IS EVERYTHING. And UI always takes way longer than the so called "hard stuff".

7. always push yourself: not to the limit, but just beyond where you think you can go. The "I can't believe I did that" feeling is my personal favorite.

And there will be a lot of feelings. This rollercoaster ride will be rough, but when you're on the way up or at the top ... BOOM ... spring in your step ... pebbles in your shoes ... Michael Phelps ain't got nothing on me (ok, that was extreme, but the "I AM KOBE" effect does rock).

In case you didn't read it, Young Money intervied Mark Cuban recently. He says it all better than me: http://www.youngmoney.com/entrepreneur/entrepreneur_profiles...

All the best!!!

Hey MR FISH I never got the chance to thank you earlier, this really is a useful comment. The first thing I did after reading it was set up a stage and god I am so much more relaxed during deployment.

Bug tracking etc fall into place in about 2 weeks. Still some API integration to do and a n00b to onboard ... :)

Subscriptions I have

Business: Basecamp, Zoho

Consumer: O'Reilly safari - safari.oreilly.com - browse their entire library (including books in pre-publication) for $42.99/mo

As someone who has been screwed before: Make a buyout date and clause. Value the IP based on time, calculate your share and set an end date on your agreementpast which you can demand cash from him for your stake. This way he may have final say on all issues, but if you disagree with the general direction after a couple months you can deal him a punishment by demanding a cash out. It is vital to set said date and amount in writing at the outset.