I have a very good idea but I am scared to death of submitting my idea to venture capitalists
I have an idea that I think is very good, in fact I never seen this idea implemented on the Internet ever.
My idea is very good . I am pretty confident about it, so condifent about it that I am willing to risk my last valuable asset, a house that is currently priced around $250.000 - 280.000 based on market price. Venture capitalist can take my house if my idea doesn't make the money and I am willing to sign a contract for this clause before a lawyer.
Why I Am Scared To Submit My Business Plan To VCs
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- My idea is very good, again I never seen this idea implemented on the Internet ever. The thought of the VC stealing my idea without supplying funding for me is very scary to me. I don't want someone to steal my idea.
- I live in Jakarta, SE Asia, there are a lot of VCs here (even in third world countries, $500.000 is a miniscule amount of money for a VC, really) but most of them are VCs for offline businesses that don't want/not interested in funding a dot com startup company.
- There is no lack of dot com VCs in US. However due to geographical barrier . I don't think they will be very interested in my proposal since I don't live in US.
There must be one of you here who is a VC or have experience in getting funding from a VC.
How do you guys get funding from VC? and don't you feel scared at all if the VS steal your ideas?
I really want to submit detailed, professional business application with graphs, revenue projection etc to VCs but again ... I am scared to death about my idea being stolen. This is a dillema for me.
What is your opinion on this ?
Why I Need Venture Capitalist:
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- My wife will never let me to sell the house. If I am still single, I will sell it without hesitation just for this project, however If I can get a VC to fund my project with my house as a collateral, I think I can get her to accept it but I want share of at least 51%. Why? Because it's my idea and I assume equal risk as the VC plus I will do most of the work, so it is just natural for me to ask a stake of 51% or more.
- Even If I sell my house , say $ 250.000,- . It is still not enough because I need $ 500.000 of money in total for safety net and unexpected things (worst,pessimistic scenario)
- The cost of making the site is not expensive , however the marketing/promotion part of it will be expensive plus I can't do it alone. I need a team of several professionals working under me.
- I will have someone that expect a progress report from me , this will help me to stay focused on this project.
- A partner with solid experience is preferred so that his experience/skill sets can complement mine.
About Me :
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I started my career as web programmer back in 1996 and as a full time IMer since 2000 (No big deal at all).
I built several successfull authority sites that is growing consistently without much efforts from my side, made decent income from them until I sold them for 30x monthly revenue (again nothing biggie about this) and plunge all the money into US and Asian stock market back in 2008-2009. This is the biggest mistakes of my life that I trully regret.
A thread about my situation still can be found in a trading forum.
Desperately Seeking for Help - Traders Laboratory Forums
I thought I was smart, I keep saying to myself trading stocks is very simple compared to object oriented programming, RDBMS and other technical tech stuffs.
Boy, I was wrong, technical analysis is one of the pillars of stock trading but stock trading is not a science.Pyschology plays very great role in stock trading, but then again who would ever think that 2008-2009 are the years of one of the biggest financial disaster in wall street history? Before 2008, trading gurus, economist, experts were all optimistic about the stock market.
So, again what do you think?
There must be one of you here who is a VC or have experience in getting funding from a VC.
How do you guys get funding from VC? and don't you feel scared at all if the VS steal your ideas?
I really want to submit detailed, professional business application with graphs, revenue projection etc to VCs but again ... I am scared to death about my idea being stolen. This is a dillema for me.
What is your opinion on this ?
Thanks
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