Catch 22

by AlanGNW

Posted: 14 years ago 14 replies

INTERNET MARKETING

Let's say you had a good idea (no - a fantastic idea!), but didn't have the funds to carry it out? So need to raise some either through sponsorship, or donations (or some other means).

The catch being that the minute you talk about it openly someone would run with it (badly) so you have to keep the specifics confidential. Doesn't matter if it's copied later - but you need to be the first to make it happen...

What would you do?

(I should add that this is a non-profit project)

#catch

abdulquddus 14 years ago

I would do the following

1. Make a list of people who have complete trust in me. Then I would go to them and just tell them " I am starting a business and would request your sponsorship or donation ". If they stress on knowing about the business, then I would just give them a hint of something similar but not the actual idea.

2. If the first step is not successful for any reason, then I would go to potential donors and even to them I would tell that I am going to start a business and give them the details of a similar business or related business and say I would do it more better. If asked how more better, I would give them some new ideas but not the one I have

Regards
Abdul Quddus
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- AlanGNW 14 years ago
  
  Abdul....
  
  1. All ready working on that side of things...
  
  2. Not strictly speaking a business as such (I should have said that in the original post, so will probably go back and edit). It's more of a non-profit project. When I pull it off, it should generate masses of (positive) publicity. But very difficult to generate corporate sponsorship having to keep one's cards close to ones chest.
  
  Ronak - no offence taken, but I'm a long way from being a beginner and far from 'weak'...
  
  Was hoping for some real creative thinking here.... Maybe potential collaborations.
  
  Thanks
  
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  Alexa Smith Banned 14 years ago
  
  [DELETED]
  
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  AlanGNW 14 years ago
  
  Originally Posted by Alexa Smith
  
  I'd look for a well-financed business partner whom I trusted, who's willing to sign a standard NDCA (non-disclosure and non-competition agreement).
  
  The problem with NDA's is that they are extremely costly to enforce. And without any true IP (this relates to a method of working rather than any true IP as such) probably not really worth the paper they are written on.
  
  Alexa - like what you're doing with the auction in your sig.
  
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  Istvan Horvath 14 years ago
  
  Originally Posted by AlanGNW
  
  Was hoping for some real creative thinking here.... Maybe potential collaborations.
  
  Sorry, I don't get it.
  
  In real life you don't know anybody you would trust to collaborate... and you are hoping for "collaboration" from a bunch of strangers in a forum???
  
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  AlanGNW 14 years ago
  
  Originally Posted by Istvan Horvath
  
  In real life you don't know anybody you would trust to collaborate... and you are hoping for "collaboration" from a bunch of strangers in a forum???
  
  I thought I'd said earlier I was already working on the 'real life' side of things. I was hoping for some interesting ideas I may have missed as alternatives....
  
  Collaboration - hardly the first to ask on this forum am I?
  
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Ronak Shah 14 years ago

I would rather generate the cash myself than ask for donors to chip in.

Begging for money around is not a good idea when you're doing business.

It shows how weak and helpless you are - nothing personal.

Better if you believe in your skills, knowledge, talents and self to make things work for you.

Even if you've an internet connection, all you need to do is make everything work for you.

Start affiliate marketing. I made money like anything that I'd never even thought I would. Affiliate marketing is amazing.

You don't need tools when you're starting out. Just start working and testing out new ways of marketing other people's products - you'll start making money.
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Now, Here's The REAL DEAL:
Either I make YOU at least 10 times of what I charge YOU OR
I'll Write YOUR Sales Copy AGAIN Till YOU Make MUCH MORE Than THAT. Guaranteed*.
*Terms & Conditions Apply. Email me at ronak[at]ronakshah[dot]name right now.
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Vaolla

14 years ago

I would wait to implement my idea until I get enough funds to implement! I personally dont like joint ventures!

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Kay King

14 years ago

It's non-profit - but it's not charity either? What would be the payoff for someone willing to invest in your idea?

The two questions:

What's in it for someone who invests in your idea?

What's in it for you?

Are you look for those who will invest as partners and share the benefits of the results - or for a loan? Will investors be sharing in the positive publicity or funding your venture only?

Is this time sensitive or could it wait until you generate the funds to implement it? Will you be providing some of the funds needed? Can you share general plans with potential partners and use NDA to share details with those interested?

kay

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AlanGNW

14 years ago

Originally Posted by Kay King

I
The two questions:

What's in it for someone who invests in your idea?

What's in it for you?

Are you look for those who will invest as partners and share the benefits of the results - or for a loan? Will investors be sharing in the positive publicity or funding your venture only?

Is this time sensitive or could it wait until you generate the funds to implement it? Will you be providing some of the funds needed? Can you share general plans with potential partners and use NDA to share details with those interested?

Honest answers Kay:

1. Massive positive exposure for the investor.

2. Nothing in it for me financially - just self-satisfaction. However, being truthful it would have spin offs for me in terms of profile and my 'real world' business.

3. Answered in number one. I originally come from a PR background and I'm certain that the resulting exposure for the investor would be many times the value I am looking for to fund the project.

4. I f necessary, it can wait - but I'm impatient by nature and looking for a way to get on with it. It's a good time for me personally to be able to devote the time to it.

5. NDA, despite what I have said earlier, yes I am willing to discuss it under and NDA but have to be convinced that I'm talking to the RIGHT people first. And would be wanting to carry out some due diligence beforehand.

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Kay King 14 years ago

Now it makes more sense to me. #5 is the way to go - just know who you are talking to. Good luck with it.

kay
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Saving one dog will not change the world - but the world changes forever for that one dog
***
It actually doesn't take much to be considered a 'difficult woman' -
that's why there are so many of us.
...jane goodall
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peepin2me 14 years ago

If the industry you are looking to enter has low entry barriers, I would rather wait to generate funds required to start the project myself rather than disclosing the idea to others. Bootstrapping is the way to go!
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John Atkins 14 years ago

Unfortunately you really can't trust anyone
in this world, so I would generate the cash
myself.
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AlanGNW 14 years ago

I don't believe that's true for one minute.
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Catch 22

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