You hit the nail on the head and I do believe I can probably round up the money from friends and family in the shape of a loan. Especially with the go-no-go system laid out in place ready to go.
The idea of small 3 month increments working towards it is also very appealing.. Thanks for the solid advice.
EDIT I also noticed that you recommend staying away from investment firms in order to preserve control of the company, but I'm honestly a bit scared to grow something like this myself with my limited experience in this area. Do you think my chances for success change at all with a 'professional' at my side?
I'm not so sure anything will happen with it but at this point, it certainly doesn't hurt to at least get the word out.