How do you fund a billion dollar business idea?

[KevinF]

Originally posted by: intogamer
Your gonna have to share your gains with people that has $$$

or find that rich uncle 😀

Oh, I'm fine sharing gains with an investor. He or she would most likely get shares in the corporation.

My rich uncle doesn't ever spend his money. Ever.

 

[KevinF]

I still need help...

 

[AccruedExpenditure]

Once again, many people have ideas, it isn't about the idea... i guarentee you a dozen people have similar or better ideas than yours. It's about the team you pick and the path you execute...

If you're in N.Y. it's going to be tough to find any kind of funding/support just an "idea". Your best bet, network, trying to find someone close to the S.V. V.C. community, write a business plan and spend a month out here setting up meetings and pitching your idea.

That said, unless you have specific knowledge of the industry you're trying to get into, most V.C.'s won't give you the time of day regardless of how good you think your idea is.

Ideas are a dime a dozen. It's solid execution that's rare.

 

[PokerGuy]

Actually, I'm surprised nobody has mentioned this before, but prior to even building a prototype and all that jazz, your very first step (once you have the idea documented and worked out) is to contact a patent attorney and start the process of patenting your "billion dollar idea". Once you've done that, you could start looking at having someone build it without having to worry about them stealing the idea.......

You need seed funding, but you're not going to get that without having a business plan and an idea of how you're going to get this done. Lets say you were handed $100,000 in seeding cash today, how would you go about getting it developed? You can't just say "I'll work out the details after I get money", you need to plan and document and then you can money.

 

[TechBoyJK]

Originally posted by: AccruedExpenditure
Once again, many people have ideas, it isn't about the idea... i guarentee you a dozen people have similar or better ideas than yours. It's about the team you pick and the path you execute...

If you're in N.Y. it's going to be tough to find any kind of funding/support just an "idea". Your best bet, network, trying to find someone close to the S.V. V.C. community, write a business plan and spend a month out here setting up meetings and pitching your idea.

That said, unless you have specific knowledge of the industry you're trying to get into, most V.C.'s won't give you the time of day regardless of how good you think your idea is.

Ideas are a dime a dozen. It's solid execution that's rare.

QFT

check out www.tecstl.org

i have a startup company in there, and while they arent so much focused on raising me the money i need, they provide the management guidance and networking that is allowing me to diamond cut my execution plan...

 

[KevinF]

Originally posted by: TechBoyJK
check out www.tecstl.org

i have a startup company in there, and while they arent so much focused on raising me the money i need, they provide the management guidance and networking that is allowing me to diamond cut my execution plan...

I've looked at similar tech incubators around me, in the Pittsburgh area, and they expressed interest but said to come back when I have a prototype.

 

[JS80]

Look up and find Angel Investors to pitch to that will be willing to fund your idea. Be prepared to give up 49% of the company.

 

[ruffilb]

Originally posted by: PokerGuy
Actually, I'm surprised nobody has mentioned this before, but prior to even building a prototype and all that jazz, your very first step (once you have the idea documented and worked out) is to contact a patent attorney and start the process of patenting your "billion dollar idea". Once you've done that, you could start looking at having someone build it without having to worry about them stealing the idea.......

You need seed funding, but you're not going to get that without having a business plan and an idea of how you're going to get this done. Lets say you were handed $100,000 in seeding cash today, how would you go about getting it developed? You can't just say "I'll work out the details after I get money", you need to plan and document and then you can money.

 

[DaiShan]

You have an idea right now, that's it. You should talk to people you know and see if they are willing to work on the project for partial ownership. Also, where did you come up with your numbers? You do have a business plan don't you? (I'm assuming yes, VC will not even let you in the door without something on paper) The problem is, if you don't have the money, the skills to manage a company, or the skills to develop the project, you are useless to the VC firm, all you have is an idea. That being said if you can give a rough idea of the parts of the project without going into too much detail, there are people on this board that have the skills that you would need, and may be willing to work with you.

 

[DaiShan]

Originally posted by: KevinF

Originally posted by: UglyCasanova
What is the idea?

Um... I feel that the idea is so blindingly obvious that I'm amazed no one has done it already, so I don't want to voice it on a forum populated by techies who could probably code it.

If you figure out how to sign an NDA electronically, I can tell you.

Or you could just outsource the coding work to India.

I've thought about it, but it would still take a pretty sizable investment to get it all done on rent-a-coder.

Make a business plan to get capital to build to the prototype.

I have a half-assed business plan which got me a meeting with some VC guys, but they want a prototype before I get any money. Do you know how I can get capital with just a business plan?

Electronic signatures are given the same weight as hand signatures... Also, if it is so obvious, are you SURE that it hasn't been done? I'd be happy to sign an NDA and a NC if you'd like some more specific advice.

 

[KevinF]

Originally posted by: DaiShan

Originally posted by: KevinF

Originally posted by: UglyCasanova
What is the idea?

Um... I feel that the idea is so blindingly obvious that I'm amazed no one has done it already, so I don't want to voice it on a forum populated by techies who could probably code it.

If you figure out how to sign an NDA electronically, I can tell you.

Or you could just outsource the coding work to India.

I've thought about it, but it would still take a pretty sizable investment to get it all done on rent-a-coder.

Make a business plan to get capital to build to the prototype.

I have a half-assed business plan which got me a meeting with some VC guys, but they want a prototype before I get any money. Do you know how I can get capital with just a business plan?

Electronic signatures are given the same weight as hand signatures... Also, if it is so obvious, are you SURE that it hasn't been done? I'd be happy to sign an NDA and a NC if you'd like some more specific advice.

It has been done, several times, but it has been executed so poorly as to always be a commercial failure. Technology has changed rapidly enough that it is possible to do the idea right, for the first time.

I'm about to head out for the night, but anyone seriously interested, please PM me your name, address, phone number, and some information about yourself and maybe we can sign this NDA I have prepared.

 

[classy]

If you had an idea that was really that good, a company would have no problem fronting the money to develop a prototype. So your idea may not be as good as you think. Try talking to a few other companies.

 

[gopunk]

Originally posted by: AccruedExpenditure
Once again, many people have ideas, it isn't about the idea... i guarentee you a dozen people have similar or better ideas than yours. It's about the team you pick and the path you execute...

If you're in N.Y. it's going to be tough to find any kind of funding/support just an "idea". Your best bet, network, trying to find someone close to the S.V. V.C. community, write a business plan and spend a month out here setting up meetings and pitching your idea.

That said, unless you have specific knowledge of the industry you're trying to get into, most V.C.'s won't give you the time of day regardless of how good you think your idea is.

Ideas are a dime a dozen. It's solid execution that's rare.

agreed, with a few caveats...

there are plenty of good VC firms in places other than SV... NY, boston, seattle for example.

i'd say prior experience / success is more of a factor than specific industry knowledge.

also, i'll just add that if this idea is as obvious as you think it is, somebody is probably already working on it.

 

[IHateMyJob2004]

Originally posted by: KevinF
So, I had a billion dollar idea a while ago. It's a software project and will require a significant amount of developer hours and is well beyond my limited expertise.

I've talked with some local seed-stage venture capital firms and was told that they are interested but to come back when I have a prototype.

This puts me in a Catch-22 because I need money to develop a prototype.

I'm 19 years old, in college, and I don't know anyone with a spare $100,000 or the kind of skills and time necessary to do the coding I need.

Does anyone have any advice?

Prototypes don't need full functionality. Prove the fundamentals of hte concept work. That's all theat truely matters. A nice GUI is always nice for selling the idea to non-tech people.

 

[IHateMyJob2004]

OK< what is this idea? It's probably been done if it's "obvious"

 

[Train]

you dont need 100k for a prototpye for software, I dont care what it is. If someones asking for a "prototype" they are stuck in the wrong kind of mindset, prototypes are for physical products, not software, at least not at this stage.

I've seen billion (ok maybe only 100 million, but who's counting) dollar systems sold on power point slides alone. No actual code, just mockups of what the interface would look like.

I used to work for a company that did large systems for GM and Ford, and they would spend a maybe a week making fake UI's, and putting it all into a nice looking power point slide show.

You dont need a coder, you need a good sales person, and a nice presentation. Get a nice looking presentation that explains the whole idea, and a salesperson who can woo a few investors, and your on your way.

 

[gopunk]

Originally posted by: Train
you dont need 100k for a prototpye for software, I dont care what it is. If someones asking for a "prototype" they are stuck in the wrong kind of mindset, prototypes are for physical products, not software, at least not at this stage.

I've seen billion (ok maybe only 100 million, but who's counting) dollar systems sold on power point slides alone. No actual code, just mockups of what the interface would look like.

I used to work for a company that did large systems for GM and Ford, and they would spend a maybe a week making fake UI's, and putting it all into a nice looking power point slide show.

You dont need a coder, you need a good sales person, and a nice presentation. Get a nice looking presentation that explains the whole idea, and a salesperson who can woo a few investors, and your on your way.

any investor in a high tech company that would invest solely on the basis of being wooed by a hired salesperson is not an investor worth having. pitching to VCs is not the same as trying to win a contract with a large company.