How to develop a new idea?

Discussion in 'Business Ideas' started by Charley, May 24, 2010.

  1. Charley

    Charley
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    Hi

    I'm new here and have joined the forum in the hope of finding a bit of direction.

    I have an idea for a business that i wish to explore. I believe that it is an innovative and desirable new idea for the ebook industry that now, with the introduction of the ipad and other new technologies has become viable and potentially very lucrative. The idea combines existing technologies in new ways.

    I am a business novice with no software developing skills and due to the fact that i believe that my idea is very 'of the moment' I strongly suspect that the best option would be to sell my idea to a company in the marketplace that has the expertise and resources to make it happen. Companies like Apple's ibookstore and Amazon or perhaps ebook publishers would be most likely to be interested in this idea.

    So... where to start!? well, 3 questions immediately spring to mind.....

    a)Do companies like these buy ideas?

    b) if so, how would i approach a company to propose my idea?

    c) How do i ensure that i am protected so that after i share my idea with a business they can not just steal it and develop it themselves?

    Any other comments or advice would be greatly appreciated!!

    Thanks for reading!
    Charley
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum Charley and thanks for asking your business questions. Nothing is impossible so you should continue to pursue your idea, or perhaps change it a little, in order to find a way that it can work.
    Unfortunately it is difficult to sell an idea to a company. Most companies are busy working on their own research and have their own ideas, in fact they will generally have good ideas of their own, that they don't have the time or resource to develop. Hence, they are unlikely to pay someone else for an idea. However, it does happen occasionally, so if you believe that your idea is really good, don't rule out the possibility of selling it on.

    Do some research on your target company and try to find out who the relevant person in the company would be, i.e. the person that has the budget and the authority to make that kind of purchase decision. Then telephone this person and request a meeting. Explain to them that you have an idea that could be profitable for them and ask if they would be interested in pursuing it. Try to find out what business the company is trying to develop and figure out ways your idea could help them to develop that business.

    The reality is that this actually doesn't happen very often and unless you have a large budget to legally protect your idea, it is very difficult to prevent someone from stealing your idea. Do you know if your idea would be eligible for patent protection? The answer to that question will depend on the nature of your innovation and on the country where you wish to protect the idea.

    If you are approaching a company you can also get some protection, by using a non-disclosure agreement.

    You might find some of these related discussions helpful;

    Business Ideas.. What next?
    I got tons of ideas, but how would I get help on making them real
    Investor Wanted For New Invention
    I have a great website idea
    compensation for biz connections (supply).

    Good luck with it and please do post back with your thoughts.
     
  3. Charley

    Charley
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    Thanks a lot Fergal.

    I'll have a read through that and talk to some developer friends and no doubt get back with some more questions soon!!
     
  4. Mark T

    Mark T
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    If you can find a friend of your who is willing to materialize the idea for you, then you might go start making your portfolio and partnering with your friend - making sure also that your idea won't be stolen by larger company and other competitors in the market.
     
  5. Anderson Vanessa

    Anderson Vanessa
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    An idea which does not seem very interesting to anyone else can have this special ‘smell’ for a creative person. This seems to be a sort of instinct in the way it operates. It is not, however, an instinct but a judgment built up from a lot of experience.
     
  6. TimB

    TimB
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    Just keep yourself relaxed, think at night in silence or think in early morning i am fresh air. write down whatever comes in mind (on paper with pen or pencil only). You will get something good soon!
     
  7. jeff123

    jeff123
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    find a developer or a designer who is ready to partner with you to develop this idea

    once u find someone better than develop the platform and than try monitizing it by selling it to company of your choice or advertising it yourself
     
  8. Mark T

    Mark T
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    Answering your questions above:

    1. It depends on the company if they need that kind of "idea" or "technology". If you wish to sell your product or idea to companies, make sure that you are also targeting the right companies.

    2. Every company wants something unique on every idea being presented to them. So make sure to present something unique about your idea - it might be the very first technology that will be used on their target market, etc. They need a unique selling point as well for your products. They need to know, how will this "idea" will bring them profit.

    3. You can check how to obtain a copy right here: http://en.wikipedia.org/wiki/Copyright#Obtaining_and_enforcing_copyright ..

    Study what companies you are targeting is missing on their market, what they need for innovation, what their possible goals are - in which you could come up with a concept that would help them get an edge over their competitors.


    Regards,
    Mark T

    P.S.
    Welcome back to me :D I missed BAF.
     
  9. TimeRider

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    Well, Ideas develop in curious mind or someone who participate in good works.

    When you give out your idea which is very strong or profitable, make sure you go to right company. Don't throw your ideas right away to the company because they may steal your ideas or reject your ideas which is actually profitable for them. Look how's the company and their administration. Just give them the demo and keep some before you they approve you.
     
  10. kewalkhanna

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    Hi all, I am new here and started this forum to learn new things, well it is a nice thread and I have learned some new ideas for business, thanks for sharing.
     
  11. thealchemist

    thealchemist
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    I know I'm really late to this, but I think Fergal pretty much summed up the answer to most of your questions. In fact, I learned a few things as well. Thanks Fergal! :)
     
  12. ESHWOR KC

    ESHWOR KC
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    yes companies do like new ideas but your ideas should be appropraite for the company. Be calm and make the company believe that your idea is quite relevant for the company . coming to your third question; it is hard to answer ..they may unfortunely can steal but i suggest u to take your proposal or your idea to share with good company whom u can trust .
     
  13. alicemenezes

    alicemenezes
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    I don't think companies actually "buy" ideas
     
  14. platnumcn

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    I dont think that company buys ideas as well. Again, letting a friend know of the same and make him have all the glory might serve you satisfaction once, but not all the time. And if you think getting a small portion of money from your friend or acquaintance would help you are wrong. If your idea is a hit, you will regret not getting the right deal for it. In case you are not working for the company, do not give out an idea to anyone. Let it rot to extinction. Again, if you are working for a company and you have to pass your idea to your seniors, make sure that everyone knows it is your idea and not of the senior or else you will not get any accolades for the same.
     
  15. singhabhishek251

    singhabhishek251
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    Yes, there are companies interested in buying the idea and if you do not know any, then you can look for investors for your idea. To make it safe, first you need to make it copyright or patent, whichever is applicable.
     
  16. James Faulkner

    James Faulkner
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    Business ideas are very important for the business and there existence is necessary, because business ideas can start with proposal, planning and implementation.
     
  17. AnushaJain

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    For starting a new business you should look for an idea which is unique and not present anywhere atleast in your locality. Then develop according to the need of your society.
     
  18. J.Rod

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    Not to discourage you but companies like Apple or Amazon are, just like what Fergal said, have research department to improve or release new features or product for their company and may not be interested in you idea.

    But if you're confident that your idea can caught the interest of many people, you should invest on developing it yourself. How when you said you don't have any programming skills? You could hire someone to do it for you! No money? You can lend to your family members or have a loan. Good luck!
     
  19. Kimmy Yong

    Kimmy Yong
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    Hi, you may consider the suggestions below to develop new ideas:-

    (i) We frequently do not pay close attention to our silent and seemingly unimportant thoughts. In fact, it’s not what we say out loud that determines our lives. It’s what we whisper to ourselves that has the most power. The best way to get creative is to allow your mind to wander. Use a technique such as mind-mapping or play a word-association game with yourself to come up with new ideas;

    (ii) Bounce ideas off friends because business is a team sport. Ask yourself whether you, as an individual, want to play the game against the team or with the team. The best way is to create a collective with a group of like-minded people to help you come up with new ideas; and

    (iii) Billions of new ideas have come when their creators have looked for a solution to an everyday problem. We cannot live for ourselves alone. The more you give, the more you’ll grow.
     

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