Too MANY ideas?!?

KarenHelenaKarenHelena Posts: 1subscriber
edited April 2007 in Watercooler Talk
Here is my dilemna.  I am an idea person.  I absolutely thrive and get so excited by coming up with new product concepts.  I have a knack for seeing unmet needs in the marketplace.  However,  I do not enjoy all the "detail work" required in starting up a business.  My goal has always been to focus on one of my ideas and start my own business.   The problem is I am always coming up with "newer, better" ideas so I am having a hard time deciding on just one.  Since I love "coming up with new product ideas" so much... my IDEAL business would be finding a way to make money licensing my ideas to existing companies. Because I know I will never stop coming up with new product concepts.   Any thoughts or words of wisdom.
Thanks,
Karen
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Comments

  • GrillCharmerGrillCharmer Posts: 7subscriber
    Sounds like you are right on target and know what you want.  Just license your ideas, one after the next.  Words of wisdom... go for it.  You already know what you want to do, just do it!
  • RumpelstiltskinRumpelstiltskin Posts: 1subscriber
    Make sure you at least "notarize" the entries in you journal (with the DATES, not just signatures). Also, do not openly disclose any pertinent information without a signed NDS agreement (Non-Disclosure Agreement/Statement). If they do not sign - walk away (especially early on without proper protection). If you`ve submitted a patent application, it really doesn`t matter as much.
    Although some companies reject NDS`s (as a matter of policy). There will always be another (more appropriate time) to engage them. But not without (at least) a notarized document that establishes "date of conception".Rumpelstiltskin2007-4-2 18:41:28
  • Innovator7Innovator7 Posts: 9subscriber
    Ideas are a dime a dozen.What may matter more are structured or big ideas, and focus.There`s no point of solving small problems, `cause not much money would come out of it.  It`s better to solve big problems.
  • garypgaryp Posts: 0subscriber
    Hi Karen,
    I`m in a similar position to you. Lots of ideas (some better than others) but no time to do anything with them. I was doing some research online and came across this website which may be of interest.
    http://www.boggleit.com</A>
    They claim to be a kind of `Dragons Den online`. You submit your idea, they evaluate it. If they think its good they`ll offer to  buy it from you or joint fund it. It turns out these guys have been featured on the BBCs Working Lunch programme. You can watch the video here http://www.boggleit.com/news-feature-4.htm</A>
    They seem to be hot on non-disclosure which was my initial concern. Well worth a try perhaps. (and if not they have a great free business advice booklet). garyp2007-4-3 7:16:32
  • patentandtrademarkpatentandtrademark Posts: 104subscriber
    Ideas are, in themselves, worthless.  An idea is kind of like a fox running wild in the woods - its only worth something [in money terms] once captured and prepared for market.
  • patentandtrademarkpatentandtrademark Posts: 104subscriber
    Disclosing ideas before they are protected [e.g. patent application of some type] is a very risky proposition.  Market feedback is important and valuable.  It can also kill your intellectual property rights.
    In most cases, the problem is not that we have too few ideas.  The problem is that we have too little meaningful follow through.patentandtrademark2007-4-3 10:29:18
  • KarenHelenaKarenHelena Posts: 1subscriber
    Thank you Garyp for the website links to boggleit.  I have been perusing the site this morning and it seems legit.  It appears as though they have a a couple different options to chose from to review your idea.
    I can`t believe the value of the advice and feedback I am able to get from the startupnation website.  I appreicate all the input.
    Thanks again,
    KarenHelena
  • judsonvoss1judsonvoss1 Posts: 5subscriber
    Wasn`t it Einstein who said success is 10% inspiration and 90% perspiration?  He just never said who`s perspiration it had to be.
  • patentandtrademarkpatentandtrademark Posts: 104subscriber
    Nor does it really matter - the value comes from those receiving the goods/services.
  • KarenHelenaKarenHelena Posts: 1subscriber
    Great point!  I attended a "Ladies Who Launch" meeting last night (a national organization that supports Women Entrepeneurs) and I have decided that since I am just learning how to start a business that I would start by persuing one of my less risky ideas.  The niche for this product is small but, the target audience well defined and relatively easy to reach.  The start-up costs are minimal and the business could be profitable quite soon after introduction. By persuing this idea I can learn the process of getting a business off the ground.   Once I have had success with this product, I can certainly circle back and persue some of my other concepts. 
  • RebeccaQuinnRebeccaQuinn Posts: 0subscriber
    You`ve received some concrete business suggestions about what to do with your ideas. If you find, as I do, that you have lots of ideas in most areas of your life and you want to turn everything into a business, I highly recommend reading a book called "Refuse To Choose" by Barbara Sher. While not a business book, it is about figuring out what do do with your life when you always have new ideas, start things you don`t finish, can`t focus on just one thing. It is the way your brain is wired and there are lots of people like you. The book includes strategies so you don`t have to choose just one thing. It`s available at bookstores and libraries plus Barbara gives workshops and you can get more information on her website.
  • KarenHelenaKarenHelena Posts: 1subscriber
    Thanks for the book recommendation.  I like the sound of it.
    Thanks again,
    Karen
  • teddiireedteddiireed Posts: 0subscriber
    You might get something out of reading Barbara Sher`s book. I Could do Anything if Only I Knew What it Was. She has a knack for guiding you to the `thing` you want to do most and how to pursue it. You may be a scanner and this could help.
    Good luck with whatever you decide to do.
  • TheBackupManTheBackupMan Posts: 0subscriber
    Have you had a look at cambrianhouse.com?
  • KarenHelenaKarenHelena Posts: 1subscriber
    That is quite an interesting concept on the Cambrian site.  I am going to do some more exploring on it to see if I could benefit from it`s offerings.
    Thanks again,
    Karen
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