Business Forums : The Business Brainstorm

A great product idea but no resources to develop...

By: Garylaymon [26-January-11 10:27AM]
1 posts

I have a great product idea which will be highly profitable, in huge demand, and will enhance lives.

It is a fabulous idea, I have discussed it with a couple of gentlemen within the industry who were simply amazed and ready to enthusiatically embrace.

So what do I do? I do not have the resources to develop the idea, nor do I have much working capital.

It is more important to me to that this product get developed. I don't need recognition. Truth be told, I am simply trying to get back on my feet.

Any suggestions or directions would be welcomed.

Re : A great product idea but no resources to develop

Tim Briggs [26-January-11 11:26PM]
836 posts

Hi Gary

That sounds like a frustrating position to be in, but I'm sure it is quite common that people have a great idea but aren't able to run with it themselves.

You could either try and make a go of it against the odds, or you could give up on it, or perhaps could you find a company that works in the relevant field and pitch your idea to them, or share it with them under an NDA or something like that?

If they like it they might develop it and offer you some sort of cut. The obvious issue is that if it's a really great idea you need to get yourself some sort of protection to stop your idea being stolen (need to consult a lawyer to work out how to do that!) but if all you want is to see someone develop your idea and have the warm glow of it being successful, approaching a company or other entity in the relevant field that does have the means to develop the idea might be the best way to go.

Re : A great product idea but no resources to develop Jameserickson80 [5-February-11 9:57PM] 15 posts
A great idea is good but making that great idea happen is wonderful. You can hire someone or a company to make your idea works.

Re : A great product idea but no resources to develop Hunt Media Ltd [22-August-11 7:23PM] 8 posts
Hi, why dont you apply for a grant to develop the idea. I am more than happy to help you with ideas and help with possible funding avenues. Please message me or ring me and I will help all I can.