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What do you think...

by max5ty
5 replies
So I was thinking...

Lots have good ideas but don't have the funds to carry them out.

Was thinking I'll fund good ideas.

Will provide all the marketing, ads, and even top copywriters to market your idea.

Kind of like shark tank, except I don't think they fund digital things.

Money isn't a problem...I'm thinking good ideas probably will be. Not wanting another secret diet thing or another covert IM way to get rich, but really good stuff that the author just can't afford to spend a lot on social media, etc.

Anyone see any problems with this? Any ideas or suggestions?
  • Profile picture of the author gjabiz
    Protect yourself.

    You know this, but sometimes even the smartest among us get blindsided.

    One of my jobs at SCI was to talk to people with ideas or products or inventions and they still solicit ideas...one guy has made over 10 million dollars by owning a product he licensed to them...but, anyhow.

    You won't believe the number who automatically assume you are going to steal their idea and get rich while they flounder. SO,

    Have a controlled submission process, with at least a digital sig for non-disclosure.

    Keep the submissions short and sweet. Try 3 to 5 paragraphs, if they can't tell you in 3 paragraphs what the idea is, WHO the market is and their idea for bringing it to the market...then they can't do it in a 100 page business plan.

    IF they say EVERYONE is the market, run, run and run even faster.

    IF they believe that throwing money their way is the solution, then you need to know their background extensively.

    They will eat your time, so make contact minimum and punish those who disobey. For example, give them ONE or TWO email contacts, then simply tell them you will contact them with questions, half will not believe you and keep sending you more info...well, you know.

    For what it is worth, I looked for ideas which were scalable, had Direct Response possibility, had a protection element, copyright, trademark, etc.

    Also, I found several things that SCI just wasn't interested in because of a small market, but some really good ideas, so don't forget the little guy who can make some decent money, but may not be able to support 700 employees, HA!

    So, are you fishing for anything in particular, or just want to see what jumps in your boat? Cause, Ideas...I gots a million of dem! HA!

    gjabiz

    PS. Are you interested in IP at all...music?...books?...movies?


    Originally Posted by max5ty View Post

    So I was thinking...

    Lots have good ideas but don't have the funds to carry them out.

    Was thinking I'll fund good ideas.

    Will provide all the marketing, ads, and even top copywriters to market your idea.

    Kind of like shark tank, except I don't think they fund digital things.

    Money isn't a problem...I'm thinking good ideas probably will be. Not wanting another secret diet thing or another covert IM way to get rich, but really good stuff that the author just can't afford to spend a lot on social media, etc.

    Even thinking I'll give away one of my Range Rovers to the best idea for 2014.

    Anyone see any problems with this? Any ideas or suggestions?
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    • Profile picture of the author max5ty
      Originally Posted by gjabiz View Post

      Protect yourself.

      You know this, but sometimes even the smartest among us get blindsided.

      One of my jobs at SCI was to talk to people with ideas or products or inventions and they still solicit ideas...one guy has made over 10 million dollars by owning a product he licensed to them...but, anyhow.

      You won't believe the number who automatically assume you are going to steal their idea and get rich while they flounder. SO,

      Have a controlled submission process, with at least a digital sig for non-disclosure.

      Keep the submissions short and sweet. Try 3 to 5 paragraphs, if they can't tell you in 3 paragraphs what the idea is, WHO the market is and their idea for bringing it to the market...then they can't do it in a 100 page business plan.

      IF they say EVERYONE is the market, run, run and run even faster.

      IF they believe that throwing money their way is the solution, then you need to know their background extensively.

      They will eat your time, so make contact minimum and punish those who disobey. For example, give them ONE or TWO email contacts, then simply tell them you will contact them with questions, half will not believe you and keep sending you more info...well, you know.

      For what it is worth, I looked for ideas which were scalable, had Direct Response possibility, had a protection element, copyright, trademark, etc.

      Also, I found several things that SCI just wasn't interested in because of a small market, but some really good ideas, so don't forget the little guy who can make some decent money, but may not be able to support 700 employees, HA!

      So, are you fishing for anything in particular, or just want to see what jumps in your boat? Cause, Ideas...I gots a million of dem! HA!

      gjabiz

      PS. Are you interested in IP at all...music?...books?...movies?
      Thanks Gordon...lots to think about. Got an email with some good stuff also.
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  • Profile picture of the author theconversionwriter
    That's a great idea.

    I think it would be a big hit if you can pull it off. So sort of like "Digital Venture Capital"?

    The biggest thing that you would need to consider, is that even with the best marketing, unless you have complete control over the business, chances are the fresh entrepreneur will find a way to screw things up.

    Perhaps add a clause that "In the case of bankruptcy, you get complete ownership of the digital product". This way you can still market it even after the guy has stuffed up.
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  • Profile picture of the author Paul Myers
    Max,

    There's a section here you can use to test the idea.

    Warrior Joint Ventures


    Paul
    Signature
    .
    Stop by Paul's Pub - my little hangout on Facebook.

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    • Profile picture of the author max5ty
      Originally Posted by Paul Myers View Post

      Max,

      There's a section here you can use to test the idea.

      Warrior Joint Ventures


      Paul
      Thanks, that's something I hadn't thought of. I'll take a look at that.
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