Business Idea - Who To Go To

Newsite

Hi folks,

So I have a business idea and have gotten some great and positive feedback on it from complete strangers (not the usual friends/family!). It's an online idea which would also have an 'offline' element. So to start with I'd be looking at setting up a website, getting people on board and then promoting it. It may be a slow-burner at least to begin with, but I believe there is a market for it especially given the times and the fact that there is nothing like it out there in Ireland..

What I'm looking to do is move to the 'validation' stage I suppose. It's fine getting feedback, but I'd like to make it official and approach the likes of Enterprise Ireland or Launchpad or whoever is relevant to see if they also feel it is a definite runner and to get their input and advice..

I am based in Dublin south city...working full-time in town - if I plan to do up a first draft of my proposal/plan tomorrow, who should I be looking to email/call on Monday to get the ball rolling to see if this really could be a runner?

All tips appreciated.

Thanks

EIREHotspur

Is it funding you are after, someone to setup a feasability study or someone to mentor you?

To me you are in the perfect position to do something like this because you still have a full time wage to keep you going while you investigate this idea you have.

I think you should just set up an appointment with either of those suggestions you had and go from there.
Are you sure it isn't an idea that someone can steal and replicate easily along the way?

I also have a few ideas online and offline.
Being self taught techwise, I am in the good position to be able to impliment them myself when the time comes.

Troubleshoot all aspects of your idea and look at people in other countries that do something similar and learn as much as you can.

Good luck with it!!

antoinolachtnai

It is important to understand the agendas and abilities of the various agencies. if it is focused on Irish Market for instance, EI wont be interested. Some of the enterprise boards don't have that much resources.

I would try to concentrate on finding the people who can bring your idea most directly to fruition.

stephenpalmer

Is this for an actual business or just an online business?

Good luck with it anyways

Tangled

Your enterprise board should be able to help you out with feasibility studies etc if it falls under their remit, if not then they should be able to point you to other agencies to speak to.

mikefm

As mentioned, your local enterprise board would be a good place to start. Speak with individuals experienced in this area too e.g. (Internet) entrepreneurs within (or near) your network

Newsite

Thanks very much for the replies guys.

Have done a bit of research and thinking, and looked over the Dublin City Enterprise Board’s site, which looks great. You can apply for a mentor through submitting a screening request with your business idea. They screen the idea and then consider who would be best suited to mentor you. Just in case anyone was wondering.

I actually would prefer to get some traction with my idea first though, rather than just submitting it straight off to someone else! Also, according to the website, you may be waiting up to two weeks to even get a reply after you submit your screening request. Then, once I’ve got the ball rolling I can look to request a mentor and possibly apply for financial support (I see the next round of funding applications is not being accepted until May anyway, so that’s still a long way off relatively speaking). Doing it this way means I’ll have already invested in the idea myself and will demonstrate I am committed to it. Then the financial support might come in for elements like Marketing, etc.

That’s my reasoning anyway!

Admor Tony

One of the key steps to consider before setting up a new business is to establish the 'Business Model' i.e. work out a high level how the business will actually work. You seem to be at the stage where it would be good to clarify exactly what your Business Model is e.g.

• What exact service you will provide (and what problem it will solve)
• Who the customers will be
• Where your market is - home / overseas
• What your route to market is - which channel (I assume mainly internet)
• Key Competitors
• etc

Don't then forget the commerciality aspect - what you will charge, what your own overheads will be, target turnover, cash and profit etc.

When you get the above into good shape i.e. written down and tested with objective people, then comes the Business Plan and interaction with professional people who will provide both support (financial and otherwise) and real challenge.

Oh and make sure you select the 'right' Business Mentor and not just accept someone imposed on you.

Good luck with your idea.

Tony

Newsite

Admor Tony wrote: »

One of the key steps to consider before setting up a new business is to establish the 'Business Model' i.e. work out a high level how the business will actually work. You seem to be at the stage where it would be good to clarify exactly what your Business Model is e.g.

• What exact service you will provide (and what problem it will solve)
• Who the customers will be
• Where your market is - home / overseas
• What your route to market is - which channel (I assume mainly internet)
• Key Competitors
• etc

Don't then forget the commerciality aspect - what you will charge, what your own overheads will be, target turnover, cash and profit etc.

When you get the above into good shape i.e. written down and tested with objective people, then comes the Business Plan and interaction with professional people who will provide both support (financial and otherwise) and real challenge.

Oh and make sure you select the 'right' Business Mentor and not just accept someone imposed on you.

Good luck with your idea.

Tony

Thanks Tony mate. That's exactly where I am - just about to write up the business model in fact! I know exactly what I plan to do, but of course it has to go on paper first!

yearplanner

If your idea is 'copyable', i'd recommend getting yourself a confidentiality agreement before speaking to others about it . Best of luck with your venture!;)

Newsite

Cheers for the replies!