Entrepreneurship & Small Business

Million dollar idea

  • Last Updated:
  • Oct 1st, 2017 2:53 pm
Deal Addict
Aug 10, 2013
2403 posts
671 upvotes
Toronto

Million dollar idea

I have an excellent idea for a business that I know will make a lot of $$ but I just don't have the capital to start it , how could I get a partner with $ while I manage the running of the business? I also want to know how I can protect my idea if they try to steal it.
17 replies
Deal Expert
User avatar
Mar 9, 2007
15620 posts
13286 upvotes
Think of the Childre…
Patent your idea and show up on Dragons Den or Shark Tank.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Fanatic
Jul 7, 2004
6948 posts
2695 upvotes
Million dollar ideas are a dime a dozen.
Deal Addict
Aug 10, 2013
2403 posts
671 upvotes
Toronto
ichpen wrote: Prep a business plan with realistic forecasts then PM me.
Ok but I have to figure out how I would disclose information to you without my idea being stolen
Deal Expert
Aug 2, 2001
18946 posts
10527 upvotes
I would recommend going to a reputable business incubator in your area. They will work with you to develop your idea and seek funding partners.

Your challenge with any NDA is that you personally lack the means to enforce it. Further, the individual may agree via NDA then go through a shell game of corporations to steal your idea, again because you lack the means to enforce it. A reputable business incubator is not likely to do this.


The business incubator will help you develop things like a business plan, find government funding, etc. As well as be realistic with you about your idea. The one where I work also is affiliated with many angel investors/etc. that are available for financing.
Banned
Jun 19, 2017
256 posts
180 upvotes
Heavenleigh85 wrote: Ok but I have to figure out how I would disclose information to you without my idea being stolen
I have to be honest with you. NDA's in this case are worthless. Chances are your idea will be stolen. If you have the idea and can't come up with money, thats your issue. People do a lot of things to get their ideas started and thats the difference between entrepreneurs and 9-5'ers

Borrow from parents, Use your credit card, Mortgage your house, HELOC, Figure it out!!
Deal Fanatic
User avatar
Nov 18, 2002
7041 posts
652 upvotes
BC Interior
I think some of you and the OP are labouring a fairly moot point and putting the cart miles ahead of the horse here.

In my experience I've yet to witness 'idea' theft. An idea is not intellectual property, it's not patentable, it is in all essence worthless. No one cares for stealing my ideas of a space casino which will be worth billions. IP theft happens of well executed and successful products and services (and occasionally prototyped concepts) not ideas and it is in almost all cases unavoidable. It's the nature of the beast. The best hope of success is not to shy away from sharing your ideas but to develop them efficiently into workable products with input from others and be well ahead of the game and competition in case it is replicated in the future.

When it comes to 'selling' your idea to an investor, you're really not selling your idea. You're selling your ability to execute it successfully, minimize risk and provide a healthy return. The 'idea' is in almost all cases secondary to your ability to sell yourself. Coming into an investor meeting with guarded concepts and a veil of secrecy will get you thrown out in no time guaranteed.
Sr. Member
Dec 15, 2015
706 posts
538 upvotes
Toronto
Can you scale the business? Start with 10K and scale up. Unless 100k is the small scale.

Really hard to help you with little to no information.
Jr. Member
Sep 25, 2012
182 posts
37 upvotes
Toronto
ichpen wrote: I think some of you and the OP are labouring a fairly moot point and putting the cart miles ahead of the horse here.

In my experience I've yet to witness 'idea' theft. An idea is not intellectual property, it's not patentable, it is in all essence worthless. No one cares for stealing my ideas of a space casino which will be worth billions. IP theft happens of well executed and successful products and services (and occasionally prototyped concepts) not ideas and it is in almost all cases unavoidable. It's the nature of the beast. The best hope of success is not to shy away from sharing your ideas but to develop them efficiently into workable products with input from others and be well ahead of the game and competition in case it is replicated in the future.

When it comes to 'selling' your idea to an investor, you're really not selling your idea. You're selling your ability to execute it successfully, minimize risk and provide a healthy return. The 'idea' is in almost all cases secondary to your ability to sell yourself. Coming into an investor meeting with guarded concepts and a veil of secrecy will get you thrown out in no time guaranteed.

This is true.
Deal Guru
User avatar
Nov 6, 2010
10018 posts
1967 upvotes
Montreal, QC
ichpen wrote: I think some of you and the OP are labouring a fairly moot point and putting the cart miles ahead of the horse here.

In my experience I've yet to witness 'idea' theft. An idea is not intellectual property, it's not patentable, it is in all essence worthless. No one cares for stealing my ideas of a space casino which will be worth billions. IP theft happens of well executed and successful products and services (and occasionally prototyped concepts) not ideas and it is in almost all cases unavoidable. It's the nature of the beast. The best hope of success is not to shy away from sharing your ideas but to develop them efficiently into workable products with input from others and be well ahead of the game and competition in case it is replicated in the future.

When it comes to 'selling' your idea to an investor, you're really not selling your idea. You're selling your ability to execute it successfully, minimize risk and provide a healthy return. The 'idea' is in almost all cases secondary to your ability to sell yourself. Coming into an investor meeting with guarded concepts and a veil of secrecy will get you thrown out in no time guaranteed.
Yup this guy gets it. Ideas are a dime a dozen. How many times have you heard someone say "oh I could've/have thought of that" when referring to some successful company or initiative? Thinking about something is only a fraction of the story; you need to be able to bring it to fruition and execute/follow it through properly for it to be successful.
Deal Fanatic
Nov 17, 2004
7312 posts
1672 upvotes
Toronto
Try to have a portfolio of related ideas, so if your idea gets stolen you can transition most of your time and money investment into a different idea or you can use your portfolio of related ideas to shore up your original idea. Like if someone steals your original idea, they might make some money off of it but then they have to contend with your portfolio of products, you drag them into deep waters as they try to match you tit for tat. Alternatively, if the idea is stolen by a fierce competitor and the thought of doing battle with them is unpalatable, then you transition to a different idea and not compete with them at all.

I found it very surprising how often it is not the core idea that makes money, it is the accessories and nick nack services you sell ontop of the idea that makes the cheddar. And the markets that end up giving you the best business were markets you never knew about or cared about when you first started.
I workout to get big so I can pickup bricks and ****.
Newbie
Mar 6, 2016
50 posts
12 upvotes
If you need an investor, shoot me a message.
Deal Expert
Jun 30, 2006
21133 posts
9788 upvotes
Toronto
Everyone thinks they have a million dollar idea.

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