... a full service commerce hub operated as an Application Service Provider
(ASP) for a select list of government, commercial, Internet portals, and
E-commerce customers. http://www.FASTXCHANGE.Com/
["FASTXchange, we're proud of our track record of helping firms make dramatic improvements to their procurement operations. That record includes an established ability to cut the costs of goods and services by up to 10%, reduce procurement costs by as much as 60%, and improve fulfillment cycles by more than 70%."]
show how the investment of $500K now will be returned to the investors in two years, with the long range promise of more. This return may be achieved through 1. secondary refinancing 2. IPO 3. creation of a business with positive cash flow and the promise of growth.
Then spell out how you will spend the money. Whom will you hire and what will they produce by when? Are you in the business to develop and sell more software, or are you developing proprietary software in order to provide a service to the business community?
If you are looking to build a business-to-business service, consider purchasing. A business wants to buy X, but where does it go for X. It also wants to know about price, quantities, conditions, guarantees, etc.
One possibility for filling this gap is to consider the Yahoo! and the Yellow Pages models. I can ask Yahoo! to search its database for a keyword or author, and it will give me a list of publications. I can ask the Yellow Pages for a list of businesses of the same type in a town, (plumbers in Santa Monica) and it gives me their names, addresses, phone numbers, web pages and a map. It will also give me plumbers outside of Santa Monica ranked by distance from the center of town.
But neither Yahoo! nor Yellow Pages will give me product data, catalog, discounts or ordering information. If I want to buy electric motors, I want to see a list of specifications from each supplier. If I want to buy sweaters, I want to see the catalog from Land's End, and its competitors, etc. If I want to refinance my house, I want to see rates and terms of lenders.
.. probably have to interface with Oracle or some other data base. How will you get a cooperating business to comply with your standard interface and to maintain it or update it with the latest product information?