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Business founders/entrepreneurs

Stupid business genius syndrome

8 replies

IsaidWhot · 13/10/2022 10:01

Have you had ideas you've done nothing about but seen them becoming a successful business/niche market later?
How do you monetise an idea when you know you're not the person to take it to the winning post?

OP posts:
senua · 13/10/2022 10:08

I suppose the answer is to concentrate on what you can do.
I am good at organisation but couldn't sell for toffee. I'd have to team up with a salesperson who hated admin. And hope that the genius idea made enough for two!

DownAtTheBodyShop · 13/10/2022 10:11

I have an idea for an app that I genuinely think would generate a lot of money and simplify a very costly process that every business struggles with.

However, I have no knowledge of app development, marketing etc.

I’d love to be able to sell the idea.

IsaidWhot · 13/10/2022 10:16

Sounds exciting @DownAtTheBodyShop !
That's exactly what I'm talking about. When you can see how it would work practically but also know you're out of your depth with the scope of expertise needed to take it there.
Who buys ideas?

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IsaidWhot · 13/10/2022 10:25

I agree with you @senua but if it's not the cottage industry type of thing you can just set up and beaver away with and see where it goes?

These businesses set up to succeed with every aspect covered before they even launch, how do they do it?

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senua · 13/10/2022 10:46

These businesses set up to succeed with every aspect covered before they even launch, how do they do it?
Money. Isn't that what Private Equity investments are all about?
It's the Dragon's Den scenario: they know that on your own you might make a pittance (if it ever got off the ground!). With them (money, expertise, connections) on board it will make millions but the trade-off is that you have to give them a huge chunk of your equity. Do you want a big slice of a small pie or a small slice of a gigantic pie?

senua · 13/10/2022 10:51

You will note that DD always ask about patents etc. They want to know how the genius idea is protected. They want to stop some other company trampling on their turf.
It is very expensive to protect Intellectual Property. Even more so if you want global protection.

IsaidWhot · 13/10/2022 12:25

And any investor would want to see some proofing to even considering it.
'Dear Deborah Meaden, ...
Is all I can think of then.

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whirlyhead · 29/10/2022 17:39

A friend of mine went on dragons den. Ten years later he still has nightmares about it and won’t talk about it!

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