How would I get my great idea out there?

fs5

Lifer
Jun 10, 2000
11,774
1
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I have this semi-thought out idea for an internet based service, but the problem is that it'll take a lot of capital to implement. I began to think what if one day I came up with a rock-solid business model/idea? How would I go about making some money off of it? I would need investors, someone to back me, someone who actually knows how to implement the "idea". Where/how would I find them!?

Kinda like the hotmail.com story, the guy had an idea and he went around to investors to get some backing. But he didn't actually tell them what the idea was in fear of them stealing it.
 

Windogg

Lifer
Oct 9, 1999
10,241
0
0
Your best bet is "Angel" money. There are firms out there that will give you the cash as a donation to go and sell your idea. If you can get that, there are many firms that provide seed money to bring the idea out. They are usually not interested in what you plan to do but how and who is going to be running the show. The money is ually small a few thousand usually but its more than enough the come up with a few advisors to polish your idea and bring in front of big guns.
 

azazyel

Diamond Member
Oct 6, 2000
5,872
1
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get you business plan organized and do it well. There are certain way a business plan should look. As far as getting investors without telling them what it's for, good luck. If you are that paranoid after you get the plan together get it notarized. This will prove that you came up with the idea if the person you tell it to steals it.
 

Preyhunter

Golden Member
Nov 9, 1999
1,774
12
81
It would be a much longer and detailed procedure than I care to post here, but basically you would:

1. Come up with a solid business plan that includes an exit plan after 5 years.
2. Find a venture capitalist or entrepreneurship professor that would be willing to tear your plan apart and give you suggestions on how to make it better.
3. Repeat steps 1 and 2 until your advisor thinks that the plan is up to snuff. Find out from this advisor what venture capitalists or angel investors in the area may be interested in this idea and ways that you could contact them.
4. Contact the VC and/or angels and set up a meeting so that you can pitch your proposal to them.
5. They either give you money or they don't. Then you must decide whether to scrap the idea or continue pitching to other potential investors.

Like I said, this is VERY brief. Some of the details in your plan would include ownership breakdown, board of directors whose members are involved in the industry, as well as others that are familiar with advertising and marketing, transportation, and other aspects relevant to your line of business. You would also want to hire experts in these different fields for your executive staff.

Does that help any? It's not an easy task, but it is achievable.

<edit> There is no real upper limit to the amount of money that you can get. Depending on how solid your plan is and how confident your investors are, millions of dollars is completely reasonable and attainable, provided that your business idea requires it. It's all about the return that your investors will get. If it's any less than 50% within a 5 year period, you're going to be hard pressed getting their money.</edit>
 

fs5

Lifer
Jun 10, 2000
11,774
1
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Thanks for the info guys, that ideaexchange.com place is a good place to start. As for as forming a business model and such, I'm taking classes right now to help with that.