Great business idea...help needed

stedabee

Hey everyone

Over the last while I've been in the process of setting up a cafe but pulled out at the last second, I keep going back to this idea I've had and really want to make it happen, now to me it's a revelation and to certain close friends I've told they said the same. It's a brilliant product that can be used in every shop/store world wild.

Basically what I'm wondering is who could I go too with this idea without them telling others or copying? Should I get some form if secrecy or something on the lines of it or more importantly does such a document even exist? Don't want to go into to much detail but this product can be installed in any shop world wide and do away with the old. If it was ready to role out tomorrow I'd have no worries at all that evey shop I go too would take it onboard. Sounds to good to be true I know but trust me it's that good it's one of those inventions you see on tv and say " how did I not think of that " .

Any help would be greatly appreciated.

Axwell

You could get a Non Disclosure Agreement (NDA) drafted up and get people to sign it but you seem to be asking who you need to go to with the idea. Is it something that needs to be manufactured, have looked into the that side of things if it does and the cost involved? You seem pretty sure shops would take it onboard but you are still going to need to get a prototype made and then going to retailers to see if they would take the product on. If the product is good people are going to attempt to copy it no matter what you do, its only a matter of time. If its patentable then you can do down that route but from what little I know about patents I would expect that to be an expensive process if it has global use and it may not have enough unique properties to be even patentable.

stedabee

Axwell wrote: »

You could get a Non Disclosure Agreement (NDA) drafted up and get people to sign it but you seem to be asking who you need to go to with the idea. Is it something that needs to be manufactured, have looked into the that side of things if it does and the cost involved? You seem pretty sure shops would take it onboard but you are still going to need to get a prototype made and then going to retailers to see if they would take the product on. If the product is good people are going to attempt to copy it no matter what you do, its only a matter of time. If its patentable then you can do down that route but from what little I know about patents I would expect that to be an expensive process if it has global use and it may not have enough unique properties to be even patentable.

Many thanks for your reply, that's brilliant I'll get this drafted up. Would you know if there's a standard form or could I just google one. Next step would be to be to talk to someone about getting a prototype made and tested only problem is I feel this may cost a bit. I'm 90% sure I won't be able to patent the product but there might be a small chance Ill be able too.

I have the hole concept done up and it's seems so plausible but difficult. Would love to chat to someone get them to sign the NDA and ask them what do they think and is it realistic to do. It's actually a very exciting project and would love to start doing it with someone. I have money to make it happen but I need a (dragon) haha to help me.

jetsonx

stedabee, Loads of people have loads of good ideas. Go into any pub any night of the week and ideas for new businesses are talked about.

To be honest, most business ideas (esp. for the service industry) are not worth the paper they are written on. Ask any seasoned entrepreneur with a track record of success and they will agree. Its 95% execution of the idea and
5% the idea itself. Prove that you can execute it yourself or build a team to execute the idea on a small scale.

Stop worrying that someone will nick your idea.

stedabee

jetsonx wrote: »

stedabee, Loads of people have loads of good ideas. Go into any pub any night of the week and ideas for new businesses are talked about.

To be honest, most business ideas (esp. for the service industry) are not worth the paper they are written on. Ask any seasoned entrepreneur with a track record of success and they will agree. Its 95% execution of the idea and
5% the idea itself. Prove that you can execute it yourself or build a team to execute the idea on a small scale.

Stop worrying that someone will nick your idea.

Jetsonx believe me I know that and have chatted and listened to many friends and family about ideas or products. This on the other hand is completely different, honestly I can say I've had two ideas that are now profitable businesses which both haven't been done by me. At the time I didn't have the funds or knowledge to carrier out such a project but now I can, I now have funds in cash to carry out the best idea/product yet but need someone with the no how to do so.

I know people think of ideas and get really excited but soon reality hits them and its really only fantasy but this is completely different, I've only told very selective friends and family about this and not one person yet has said no this wont work and so on........and before u say well family will always say its good well in the past they were the hardest to please!

PS : this product is so strong that yes if I did post knowing my luck I'd have a multi million with his own factory ready to roll them out tomorrow morning! Believe me I've had a fair few ideas in the past and some are now in market but nothing has came close to this, this has world wide appeal. It's actually frightening now big this could be.

Peterdalkey

OP, I think you are slightly missing the point here. You may well have a great idea/product and it could be a world beater. What you do not have is a business proposition to put to any potential partner investor. You don't know if it can be protected by patents, how to make it or how much it will cost or sell for.

You have invested nothing of your own to deal with these issues. If you came to me to invest, I would ask you all these questions, which you could not answer and I would run you as a dreamer/tyrekicker. I would not be interested in partnering with anyone who was so ill prepared and their sole value proposition was that they had a good idea.

There are no shortcuts to the pot of gold and for certain nobody is going to do all the work for you to reap the benefits. As jetsonx pointed out, the reality is 5% idea, 95% graft and execution. Ideas are 2 a penny, if you are serious, set about answering the questions properly. Come up with a basic business plan and then you can seek investment to bring it to market. There are pleanty of threads on this forum on how to raise funds from family sources to angel investors, but your must be properly prepared.

I do not wish to seem negative and would stronly encourage you to follow your belief, but it needs to be done in a professional and competent manner if you are to have any hope of success.

I have patents that we have brought to finished products, so I understand the processes involved. We also have brands for products we could not patent.

If you need specific advice on how to take these steps, post your questions here or PM me if you wish and I will give you the best advice I can.

Good luck with it

cheers

Peter

Great post Peter.

stedabee

Peterdalkey wrote: »

OP, I think you are slightly missing the point here. You may well have a great idea/product and it could be a world beater. What you do not have is a business proposition to put to any potential partner investor. You don't know if it can be protected by patents, how to make it or how much it will cost or sell for.

You have invested nothing of your own to deal with these issues. If you came to me to invest, I would ask you all these questions, which you could not answer and I would run you as a dreamer/tyrekicker. I would not be interested in partnering with anyone who was so ill prepared and their sole value proposition was that they had a good idea.

There are no shortcuts to the pot of gold and for certain nobody is going to do all the work for you to reap the benefits. As jetsonx pointed out, the reality is 5% idea, 95% graft and execution. Ideas are 2 a penny, if you are serious, set about answering the questions properly. Come up with a basic business plan and then you can seek investment to bring it to market. There are pleanty of threads on this forum on how to raise funds from family sources to angel investors, but your must be properly prepared.

I do not wish to seem negative and would stronly encourage you to follow your belief, but it needs to be done in a professional and competent manner if you are to have any hope of success.

I have patents that we have brought to finished products, so I understand the processes involved. We also have brands for products we could not patent.

If you need specific advice on how to take these steps, post your questions here or PM me if you wish and I will give you the best advice I can.

Good luck with it

cheers

Peter

Thank you for the post Peter,

I never mentioned that I was looking for someone to invest so that's why I have basically given 0% info on what the product is etc. what I did mention is I have a IDEA and enough cash to make it happen but need someone who specialises in this market to help me, thankfully I have received a email from a company who are willing to chat to me about it.

Trust me I know money doesn't grow on trees etc, all I'm looking for is help and someone to point me in the right direction.

I can answer some of your points from above

BUSNIESS PROPOSTION
Like I said this at the minute is a idea I've had for a while and everything is just on paper, I have no idea of costs or who could manufacture it etc but one thing I do know is it can definently be done and most likely not patentable.

PARTNER:
Not exactly looking for a partner but if one came about in the process yes I would consider it. I have more than enough capital without the need for a investor.

NOT INVESTED ANY OF MY OWN MONEY:
Yes I have not but that's because it's on paper and nothing else has been done about it till now, if someone can help with the process I have the funds to carrier out the project.

I'll send you a pm later and we can have a chat about it and what you help me with. I really appreciate your time to reply.

Peterdalkey

stedabee wrote: »

Thank you for the post Peter,

I never mentioned that I was looking for someone to invest so that's why I have basically given 0% info on what the product is etc. what I did mention is I have a IDEA and enough cash to make it happen but need someone who specialises in this market to help me, thankfully I have received a email from a company who are willing to chat to me about it.

if you are looking for somebody to work with then you are looking for a partner.

Trust me I know money doesn't grow on trees etc, all I'm looking for is help and someone to point me in the right direction.

I can answer some of your points from above

BUSNIESS PROPOSTION
Like I said this at the minute is a idea I've had for a while and everything is just on paper, I have no idea of costs or who could manufacture it etc but one thing I do know is it can definently be done and most likely not patentable.

1st step, find out! see www.aptma.ie/ I can recommend Anne Ryan & Co

PARTNER:
Not exactly looking for a partner but if one came about in the process yes I would consider it. I have more than enough capital without the need for a investor.

A partner does not have to be an investor, but there has to be sufficient incentive/return for them to invest their time and resources.

NOT INVESTED ANY OF MY OWN MONEY:
Yes I have not but that's because it's on paper and nothing else has been done about it till now, if someone can help with the process I have the funds to carrier out the project.

A partner perhaps?

I'll send you a pm later and we can have a chat about it and what you help me with. I really appreciate your time to reply.

Sorry, my answers are in the quote above. must learn to do better on formatting.

I look forward to recieving your PM. I may not like your methodology, but do like your spirit!

Cheers

Peter

stedabee

Peterdalkey wrote: »

Sorry, my answers are in the quote above. must learn to do better on formatting.

I look forward to recieving your PM. I may not like your methodology, but do like your spirit!

Cheers


BUSNIESS PROPOSTION
Like I said this at the minute is a idea I've had for a while and everything is just on paper, I have no idea of costs or who could manufacture it etc but one thing I do know is it can definently be done and most likely not patentable.

1st step, find out! see www.aptma.ie/ I can recommend Anne Ryan & Co

Honestly I don't think it's worth finding out if its patentable because I'm pretty sure it's not!


PARTNER:
Not exactly looking for a partner but if one came about in the process yes I would consider it. I have more than enough capital without the need for a investor.

A partner does not have to be an investor, but there has to be sufficient incentive/return for them to invest their time and resources.

Well when I think or a partner and most people I'm sure the first that comes to mind is a investor. An incentive for a partner that may not be a investor is MONEY! I'm sure they'll charge a arm and a leg for the R&d and whatever else goes with it whether they believe its great or not.

NOT INVESTED ANY OF MY OWN MONEY:
Yes I have not but that's because it's on paper and nothing else has been done about it till now, if someone can help with the process I have the funds to carrier out the project.

A partner perhaps?

Well no ill be looking for a company that firstly specialises in making ideas become reality and will tell me is it worth going for or not, then a company to produce and so on. During that process ill be charged and then I'll fork out the €€€ to make it happen.

Answered your points above!

blindsider

OP - have a look at http://www.dolmen.ie

I heard the MD on a business show on radio recently - possibly TodayFM or Newstalk.

He talked a good talk - I think they'd be worth a call.

I have no connection to them.

Best of luck!

handlemaster

you should go to you local enterprise board if they feel the idea is strong enough they will appoint a mentor. I did this before they were very good. I pulled out of the idea later on .. cost versus return

stedabee

blindsider wrote: »

OP - have a look at http://www.dolmen.ie

I heard the MD on a business show on radio recently - possibly TodayFM or Newstalk.

He talked a good talk - I think they'd be worth a call.

I have no connection to them.

Best of luck!

Thanks a mill blindsider this is exactly what I'm looking for, someone who can discover, develop and deliver! Excuse there motto haha!

Bakemate

I think your best bet would be to join the mentoring program in your local County Enterprise Board. They'll assign someone with skills in your area and they are bound to non-disclosure of your idea/product They can guide you through the business plan/ development/manufacturing process. They can also also give you information on getting an investor if needed.

http://www.enterpriseboards.ie/index.aspx

stedabee

Bakemate wrote: »

I think your best bet would be to join the mentoring program in your local County Enterprise Board. They'll assign someone with skills in your area and they are bound to non-disclosure of your idea/product They can guide you through the business plan/ development/manufacturing process. They can also also give you information on getting an investor if needed.

http://www.enterpriseboards.ie/index.aspx

Thank you bakemate, ill send a email to them and see what they can do, I've contacted dolmen also so just waiting to hear back. Many thanks for all the replys.

Whether the product becomes reality or stays on paper ill post what it was over the next while.

publicious

Ideas are ten-a-penny. There's a waste ground of unimplemented ideas out there. Eventually the market will come along and do what you were unable/unwilling to do.

stedabee

publicious wrote: »

Ideas are ten-a-penny. There's a waste ground of unimplemented ideas out there. Eventually the market will come along and do what you were unable/unwilling to do.

Not exactly the attitude to get you far! With a good product funding and the right people anything is possible , usually people with a idea don't have either unfortunately and with that it stays on paper.

Peterdalkey

You might like to talk to Ben at http://www.whitezebrastudios.com/ who is doing exactly that kind of work. A gifted young industrial and product designer who last night won two major awards at the Irish Design Instiute National Awards Ceremony.

He is walking out with my daughter!

Cheers

Peter