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Business model like carfax - how to go about it?
KingK
subscriber Posts: 5
I`ve a business plan and a proto-type built for my idea. It is similar to how car fax works. My business involves talking to different companies and getting the information from their database. Where should I start and what would be the best option?
This is what I`ve thought of.
>Option A: Try to have a strategic partnership which a firm already established. For this I think having a prototype built should suffice to give them a demo. I`m looking for them to assemble a team and build the product, market it and so forth. But I was wondering what would be my involvement as I can easily get shadowed by a big company.
>Option B: Register my company, build a proto-type, have a website, have some good references and approach a client. Get 2 or 3 major clients to sign-up for my program. Once I get the clients signed-up I can approach investors to fund my idea and then take it from there.
Your suggestions are greatly welcome. Thanks a bunch
(I was wondering when carfax started off, how did they convince the companies to share the car records information? Also since the companies are sharing their information, would they be charging carfax?)
This is what I`ve thought of.
>Option A: Try to have a strategic partnership which a firm already established. For this I think having a prototype built should suffice to give them a demo. I`m looking for them to assemble a team and build the product, market it and so forth. But I was wondering what would be my involvement as I can easily get shadowed by a big company.
>Option B: Register my company, build a proto-type, have a website, have some good references and approach a client. Get 2 or 3 major clients to sign-up for my program. Once I get the clients signed-up I can approach investors to fund my idea and then take it from there.
Your suggestions are greatly welcome. Thanks a bunch
(I was wondering when carfax started off, how did they convince the companies to share the car records information? Also since the companies are sharing their information, would they be charging carfax?)
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Comments
I would also identify all /any intellectual property and decide how you want to handle that.
Whether you decide on option A or B - I would try to get some customer validation before going much further.
I haven`t covered these options in the business plan. Infact at this time I don`t know what is the right approach. How do I approach the protecting the IP of the clients?