We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Hello I am new and I need Advice
My name is Patrick and I live in Chicago. I am not a great writer so I apologize for any grammatical errors or if this is hard to follow. I need help with my business idea and if I find the right person to help me maybe I'll take them with me for the ride.
Without giving away to much informationI have a personal need for a product in my life. This product has been around for many years but by many means is not perfect. It has a flaw that no one has been able to figure out but I think I have found a company that can fix one of it's main problems. There are about 4 main producers of this product.
There is a small possibility that the company that can fix the flaw is a client to one of the main producers.
I want to get started as soon as possible but I do not want to ruin my chances of making this work. Do I send an NDA to the company that I think can fix the flaw first to find out if it is even possible?
What if it is? Then what? I do not have the Capital to go up against these 4 major companies.
To be honest fixing this flaw and making a better product would be great but this would not be a huge money maker. It could bring in some nice income and I think it could lead to other products in the future but it would bring a lot of happiness. .... Thank you for any help.