Guys help me get started

I have an idea. I looked around and no one has implemented it yet.
The money that can be made is huge.

Don't start responding like "everybody thinks their idea is from moon, huge potential blah blah...."

What i need from you is,

How should i get started on that project?
What is the first step to put my idea on paper thoroughly.
Initial costs of realizing itsels runs into approx $250,000.
I don't think VC's will hear me and say, hey here is the million.
I need to show them some form of implementation and some customers.

Just tell me anything and everything.
thanks

 

From what I understand, you have an idea you think will make money but you need money to start the money-making process.

I guess you need to find someone who has enough cash to finance your idea and to convince that person your idea will make money.

To convince them, you'll either have to offer concrete proof your idea works -- a small-scale implementation you've tried or a similar and successful scheme attempted by someone else -- or write up a very convincing proposal detailing why your idea will make money and hope the potential financial backer agrees.

Good luck.

 

Take some business courses, write a professional business plan and hire the best salesman you can find to pitch the idea to prospective investors.

If that fails ask your mom and dad for the money.

 

Hello

Get a piece of paper word pad computer whatever and put your ideas in writing , graphs bla bla ...and put it in a way that it makes sense to you and anyone whom you show it to...

that's called a biz plan...discuss it with someone you seriously trust who won't defy you and is sincere with you..

do a bit of web research / market research.

Try not 2 go for investment during start up..do a humble beginning..launch a prototype a model demo thingy...see if ppl like it then go for large scale....other wise get your self some capital from venture capitalist or someone you trust can give you that much of money...

i guess that's kind of it for now..

THanks

 

Babysteps can get you there as well, don't always need a business loan. A lot of us here started with nothing but a domain and a hosting account.

 

You want to do it alone or do it with other people, if do it alone, then just start small and try first. If do it with other people, you need to start sell your idea and see who is interested and willing to invest their money and time. There may be difficult on the way, you need persisitence to pursure your goal. Good luck.

 

Sorry guys for my late response.

Thanks for your suggestions.

I am looking for some companies for a BP, Market Plan.

Initiallt this was my plan,

My wife is doing MS in IT and she has some courses in management.
I am myself a Software Engineer, but completely into C/C++.
In any case this was my plan,
Ask my wife to take an independent study with a professor for Business analysis (use cases, charts etc), Then get it developed by some company and get a Market Plan from few students in the college itself.

Somehow , i had a feeling that this will hinder my process of getting it quick to the road.

As you all said, i will probably get an initial version of it working and then go for some funding with a professional BP/MP etc.

Thank you all guys.
Again, if you have any other ideas, please send me an email or post it here.
Sri

 

make sure you have whomever you talk to with about your idea sign a NON-DISCLOSURE AGREEMENT.

 

VC's most likely won't give you the time of day because you lack a proper business education and/or experience. If you are going to try to find investors, it would be best to bring on someone with real business experience or someone who at least has a proper education (IE MBA).

You will also need to bring into your team someone with the proper financial credentials to be the CFO.

$250,000 is not a great deal of money. Many VC's want to hear about opportunities that are significantly larger. This is considered more of a "small business". Try to see if you can start it out on a smaller scale first and build a track record.

If not, start bringing in talented people into your team who can also invest. Another avenue is to incorporate and start selling off parts of the companies to outside investors such as friends and family.

 

Thanks for your responses.

I will keep all your opinions on mind, before begining to realize my idea.
Thanks again

 

Take your time, but hurry up

Good luck with it!