Venture Capital
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- stepson
I've got an idea for website that I think would be wildly successful. It would probably take a team of 4 senior developers around 6 months to complete, and maybe a few PR people to bring the project to critical mass. The only other expenses would be the servers and some advertising.
I'd say it would cost about $500k. I dont have $500k.
What do I do?
Anyone here have any advice?
Is Kickstarter a dumb idea?
Should I patent it before talking about it?
How do you stop ppl stealing ur idea?
- GeorgesIV0
1. don't tell us
2. bank won't lend money, find some rich cougar
3. no it's not
4. patent is long and difficult, look at space X
5. you don't, maybe you are stealing an already existing idea :Pgood luck
- patent thing
http://www.businessi…GeorgesIV - thanks, spacex stuff was interestingstepson
- patent thing
- rosem0
No one (including yourself) should sink that much money into an idea.
I would trim down the features to where it would take 1-2 developers 1-2 months (or less) to complete a rough prototype. If it's truly a great idea you can probably find 1-2 developers to work for sweat equity.
With prototype in hand you'll be able to test your idea with people to see if it's successful and then go on to get funding to round it out.
Bottom line: ideas are a dime a dozen — execution is the name of the game.
- what he said.
dev here. if you want to talk let me know, happy to sign NDA.rabbit
- what he said.
- stepson0
Saying it would "cost" 500k was probably a little pessimistic. I've been thinking about that figure more in terms of value than an out-of-pocket expense..
Agree with sharing equity with developers up to a point, although I don't personally know any that are 1337 enough for this project.. (cough)
- formed0
You need NDA/Non-Compete agreements with anyone you talk with. Have your lawyer write one up (I did, and it worked very, very well).
Sweat equity is the only way to go.
As noted, execution is the name of the game. There are a billion people doing exactly the same thing, most just never make it anywhere.
- goldieboy0
http://www.telefonica.com/en/dig…
A friend of mine has just finished his six month mentoring and financing investment from Wayra. Now he has other investors.
- doesnotexist0
if you're the creative, start doing what you can to present the concept to other people. find developers would do it for ownership. nda's all around. eventually you'll need a loan or investors, but there's a lot you can do before you get to that point.
- boobs0
Put together a PowerPoint outlining your idea, and why it is so great. Use the PowerPoint to find an angel investor to get your prototype made. Then use prototype to get venture capital firm to come in with the money to finish it off, and take it to market.
An executive at the bank you deal with should be able to put you in contact with some angel investors.
- voiceof0
Watch this video and his others he usually has good advice about these things.