What To Do With A Billion Dollar Idea?

Yes. I already am implementing it. But....

This is an idea that requires a fair bit of backing money. So how do you approach the likes of google to put an offer on the table? The reason i ask is because im sure they getting plenty of idea nuts ringing them trying to pitch.

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ripsnorta2

18 years ago

Originally Posted by GoinDeep

Yes. I already am implementing it. But....

This is an idea that requires a fair bit of backing money. So how do you approach the likes of google to put an offer on the table? The reason i ask is because im sure they getting plenty of idea nuts ringing them trying to pitch.

You'll need a proper business plan first before anyone will even look at you.

Then I suggest that you form a private company with all the legal and financial hoodoo in place.

Then do as much as you can to implement your idea yourself.

For financing, try and find some angel investors to get you started. Friends, family, neighbours.

You'll need to show any potential investors that you are serious, especially in the current economic climate.

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Floyd Fisher

18 years ago

Originally Posted by GoinDeep

Yes. I already am implementing it. But....

This is an idea that requires a fair bit of backing money. So how do you approach the likes of google to put an offer on the table? The reason i ask is because im sure they getting plenty of idea nuts ringing them trying to pitch.

You need to get ahold of a VC Firm asap.

If you already have a working and profitable model going, they will literally jump to help you.

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CurtisN

18 years ago

I would approach some venture capitalists with a killer presentation ready. That's what Google did when they were a startup company.

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Steven Wagenheim 18 years ago

Put it in the bank at 1% interest compounded monthly and retire.
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Nato Guajardo

18 years ago

Take Action or Not.

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Mike Adams

18 years ago

I have access to Venture Capitalists, how much would you need? You can descuss things within my secure site. See my signature.

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goindeep 18 years ago

Originally Posted by BlackBookProject

I have access to Venture Capitalists, how much would you need? You can descuss things within my secure site. See my signature.

Will be in touch. cheers
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Anna Johnson

18 years ago

Check out Charles River Ventures. They are (the only?) VC firm going so far as advertising on Facebook looking for startups to invest in. See article Venture Capital Firm Hunting For Startups on Facebook

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DougBarger

18 years ago

Originally Posted by Anna Johnson

Check out Charles River Ventures. They are (the only?) VC firm going so far as advertising on Facebook looking for startups to invest in. See article Venture Capital Firm Hunting For Startups on Facebook

Just another example in real time of the reason why you got the nomination earlier Anna in case you were wondering.

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PaulDomains

17 years ago

Originally Posted by Anna Johnson

Check out Charles River Ventures. They are (the only?) VC firm going so far as advertising on Facebook looking for startups to invest in. See article Venture Capital Firm Hunting For Startups on Facebook

Hi Anna, Great Link. I tracked the source of this Charles River Ventures offer. Here:

crv dot com/quickstart

Looks like a solid business indeed. It reminds me this guy Doug Richards from the BBC Show Dragon's Den.

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bombdiggity 17 years ago

If you need capital, you could pitch your idea to a philanthropist group that specializes in whatever industry you're thinking of doing business in. If your idea is good enough and you have a solid business plan, it could work out. You just need to start making connections.
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Bev Clement

18 years ago

Get a good business plan written.

Get the idea written out and sent to yourself. Do not open the document, but leave it with the bank or a lawyer. That way if anyone steals the information, you have a date stamp for your document.

Talk to VC and show them your complete business plan.

But, I have to say, you need to keep a copy of your idea in a safe place.

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goindeep

18 years ago

Originally Posted by Bev Clement

Get a good business plan written.

Get the idea written out and sent to yourself. Do not open the document, but leave it with the bank or a lawyer. That way if anyone steals the information, you have a date stamp for your document.

Talk to VC and show them your complete business plan.

But, I have to say, you need to keep a copy of your idea in a safe place.

Yes done all that. My 'idea' is already in production but... How can i say this.

How does one get a meeting with the likes of google. Im not so sure i want your standard run of the mill investor picking up my idea.

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Melody

17 years ago

Originally Posted by GoinDeep

Yes done all that. My 'idea' is already in production but... How can i say this.

How does one get a meeting with the likes of google. Im not so sure i want your standard run of the mill investor picking up my idea.

Believe it or not - it's not as hard as you might think - I just returned from San Jose last month and a meeting with a major processor there ;-) Can't say who just yet but you can probably figure it out.

BUT - we are at this point in the discussions after almost 2 years of meetings, emails and dialogue.

That being said - if you really want to reach a major person at Google - pick up the phone and call them! Have your basic elevator pitch ready - because the first person you need to speak to is the person that is going to 'steer' you somewhere - typically I ask for the person that handles vendor relationships or new technology applications.....really doesn't matter if that's completely applicable to your project - the point is to get to a person BEYOND the receptionist that can start steering you in the right direction.

If you live somewhere that is a conference city - check to see what ecommerce or payments conferences are coming to town - and check the speaker list - this is a great way to get in the back door....it's amazing how much info you can get from these people! Yes even Aus has these conferences!

last but not least - if you are not on LinkedIn - get on there and start networking - everyone from Google, Amazon and Paypal are on there ;-)

Big hint: Twitter is trendy - but the Business "BigDogs" are on LinkedIn - highest concetration of CEOs in one spot online ;-)

It's an AMAZING place to actually 'do' business.......

It can be done, trust me.

Melody

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aseltz

18 years ago

Originally Posted by Bev Clement

...Get the idea written out and sent to yourself. Do not open the document, but leave it with the bank or a lawyer. That way if anyone steals the information, you have a date stamp for your document...

This approach to establishing the dates is not effective because it is too easy to fake (just mail yourself a bunch of unsealed envelopes.)

The best solution is to either file for a formal copyright on the document you write or, at least, get it notarized.

If you have created a proprietary process, start work on filing a patent.

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Tsnyder

18 years ago

Originally Posted by GoinDeep

How & What Do You Do?

The FIRST thing you NEED to do is check out Guy Kawasaki... The Art of the Start

Here's a link... Guy Kawasaki: Art of the Start

If you start poking around VC's before you're ready they'll eat you for lunch
and you'll burn some valuable bridges.

Tsnyder

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Tensor

17 years ago

Originally Posted by GoinDeep

How & What Do You Do?

Call Sergey Brin and set up a lunch date. His secretary does not come in until 08:30 so call before then and you can speak directly with him.

:p

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Melody 17 years ago

Originally Posted by Tensor

Call Sergey Brin and set up a lunch date. His secretary does not come in until 08:30 so call before then and you can speak directly with him.

:p

You might be joking - but the tactic frequently works. The key is simply taking action and not giving up. Think outside the box and never be afraid to tackle the 'big ones'.

Melody
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