Taking on the big guns

Discussion in 'Growing and Managing a Business' started by Willfields, Nov 4, 2011.

  1. Willfields

    Willfields
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    Ok here goes, i'm sorry if people read my posts and think "what an idiot" but i have big ideas every now and then an i have to see them through until they're crushed or realized. With that in mind listen to my (probable) idiocy.

    Forgive my discretion on details but i don't want business veterans taking my idea and leaving inexperienced old me with nothing.

    I have an idea to start a not-for-profit business using a "method" it's totally legal so don't worry. This "method" is 98% cheaper to start as a NFP organisation and i guess my real question is, if after say 5 years the business is booming but comparative to a profit business its growth is slow, could i, at this time just revoke my NFP status? I want to make ridiculous amounts of money and i want to give even more ridiculous amounts of money directly to people in need, NOT through a charity who decides what money goes where. I want to decide.

    By the way the business i will be essentially taking a large market share of is a billion dollar company.
    Should i be worried about underhanded ramifications from them?
     
  2. Mountain Man

    Mountain Man
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    I admire your enthusiasim. If your idea is truly a "winner" that is great for you. As far a changing from a Not for profit to a private company I don't see an issue although there may be finacial ramifications, a lawyer would be a good start. You could always completely close the NFP and open a real comapny. As for the charity deciding who gets the money, ultimately the CEO of the charity (who by the way is alowed to earn a large salary) decides who gets the money.
    As far as taking profits away from billion dallar companies, keep this in mind, Big companies have BIG lawyers. If what you are doing is leagal, you can be sure that the big companies have already looked into it.
    Not to be a downer on your idea, I do wish you all the best. Many people feel they have great ideas until they get to the details. Just like the lady who wants to stop global warming by installing air conditioners by the side of the road (yes a real person), you may be missing an important peice of the puzzle. All the best, do your homework.
     
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  3. td2011

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    Wow sounds like exciting times. Don't feel like an idiot. I would take mountain mans advise and talk to a lawyer about this, expensive though worth it in the long run. You don't want to risk being given the wrong advise to find yourself in a tricky situation.
     

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