I Have A Great Idea For A Business, What Do I Do Now?

[JohnnyHumongous]

I have an idea for a type of service. I think it would totally kill and make bazillions of dollars. So what's the problem? Well, I don't know where to take it from here.

I really don't have the means to fully execute the idea by myself at this point in my life. Well, I could, but it would mean having to talk to investors and attempt to raise millions, quit my job and make a full-blown go of it. Talk about risky.

The other option is selling my idea to an established corporation that operates in a similar field and who could develop the business. The problem here is, it seems to me that it would be hard to get intellectual property protection on it because it is a type of service. I don't think it is possible to "patent" or "copyright" an idea for a service. But without intellectual property protection couldn't they just take the idea anyway and not compensate me? What guarantees do I have that I'll get my fair share of any profits?

Anyone with business savvy or experience wanna weigh in? It's much appreciated.

No advice but I want to say that when you make it big, you are required to mention 2+2 and specifically OOT in a televised press conference. THats would be badass. Just have someone hold up a piece of paper in the backround saying "'sup bro" on it while you talk about where your company is headed. Imagine, oot on every news channel.....

[CrazyEyez]

Before we can comment we need to hear the idea described in detail.

[nyc999]

Start by developing a business plan - you can find books devoted to this. If you have written it properly - you should have an approximate starting cost, operating costs, your target consumer, expected revenues, etc.

It will be extremely tough to find investors for a service - venture capitalists usually fund new technology/products.

If you don't have the money, first consider asking friends/family, you can also apply for small-business loans. Try Small Business Association for more info.

[namknils]

Well, I'm not that business savy, but what I would imagine you need to do first is right up a business plan, then take it to investors and start asking for money. If you really believe in it go for it.

[KaneKungFu123]

just email el diablo. he is really smart and wont steal your idea.

[4_2_it]

Call this guy:

[coffeecrazy1]

I agree with two of the other posters. A business plan is your next step. Get books/software that will help you to formulate a professional business plan. You will have to have a fully-developed plan to have any hope of securing investors, or, for that matter, customers.

After that, SBA is probably the next step for a loan. Also...ask around your friends and family...you never know what contacts they might have that could help you.

[dblgutshot]

You have to tell us 'kinda' what its about. Just give us as hint.

[James Boston]

[ QUOTE ]
The problem here is, it seems to me that it would be hard to get intellectual property protection on it because it is a type of service. I don't think it is possible to "patent" or "copyright" an idea for a service. But without intellectual property protection couldn't they just take the idea anyway and not compensate me?

[/ QUOTE ]

I think this is pretty much correct, but that doesn't mean you have to keep a tight lid on the idea until you implement your plan. You can't patent the service once you've got it started either. If it's truly a great idea with alot of earning potential, there's no way of stopping someone with more resources than you from doing it also.