Business Idea

[mr.buffalo]

I have a question for the entrepreneurs that visit this site. How much is a really good business idea worth that needs minimal capital outlay and has no competition ? Of course nothing is a certain winner but some ideas have more potential than others and this concept is aimed at up and coming third world countries which there are many and I fancy this could easily be carried over to China where the client base would be huge. Without divulging too much detail the idea is geared towards big corporations and not individuals and what the organizations would gain from it is a respect for their executives abroad. Then there is the other dilemma how could I explain it without the idea being acted upon and me being left hungry and broke ?

[Who, me ?]

Run me through it ! I am rich already !

[mr.buffalo]

Then you don't to need to know if you already have wealth, I'm trying to make mine.

[Prakanong]

"Without divulging too much detail the idea is geared towards big corporations and not individuals and what the organizations would gain from it is a respect for their executives abroad."

I work for a very big corporation and am based abroad

[mr.buffalo]

Sorry, well spotted Pr, I meant their executives travelling abroad on business.

[Who, me ?]

Sorry, well spotted Pr, I meant their executives travelling abroad on business.

don't you have any friend at an executive level to whom you can explain your idea and see how he would react ? At least it would give you an indication ! Just my 2 cents

[mr.buffalo]

I suppose the best way forward would be for me to go to some international business's and explain the basics, i.e. doing market research , seeing if they were keen for the proposition and then doing it myself but I was wanting to spread the spoils about.

[foxxx]

the idea alone is worth nothing in principal, its the execution of the idea that counts.

until the idea is executed - whatever it is built, marketed, delivered etc, it's not worth much at all imo. everything has competition, and if it doesn't, as soon as you start it will, and their execution could kill you.

the ipod isn't a great product, but the marketing is fantastic.

[Prakanong]

I suppose the best way forward would be for me to go to some international business's and explain the basics, i.e. doing market research , seeing if they were keen for the proposition and then doing it myself but I was wanting to spread the spoils about.

Or put it past a trusted person who travels abroad for large corporations on business.

I know the decision to disclose the others is hard as you want to keep this to yourself for very good business reasons but at some stage you have to take a chance to get the info you need - you could ask them to sign a non-disclosure agreement of course too!

[mr.buffalo]

Thank's foxxx, is your glass half empty or half full ?

[PhilHarries]

Sorry, well spotted Pr, I meant their executives travelling abroad on business.

I was going to suggest cold caling a few execs and try and set up a couple of meets to discuss your ideas. But then I see the above and assume your targets are the European/American/Australian etc home offices. Therefore it's going to be difficult (assuming you are in Thailand) to gauge their reactions, you could try visiting a couple of trade fairs in Bangkok etc and sound out a few of the bods manning the stands.

[mr.buffalo]

Should have explained my situation. I am in UK now working in a factory doing CNC but had 6 months in Thailand the year before last ( extended unpaid leave ) been to Thailand numerous times have a little house in Ban Chang and now the way the UK is heading I need to leave. The business idea is geared towards emerging third world country personnel of large international companies.

[samran]

To me it sounds like you want to do cross cultural consulting for senior execs doing business in foreign markets.

[mr.buffalo]

Not even close. No good guessing because you will never get it, that's why it is so brilliant.

[Prakanong]

To me it sounds like you want to do cross cultural consulting for senior execs doing business in foreign markets.

You mean like Geert Hoftede's work

or

Trompenaars and Hampden-Turner?

I just talked myself into having to deliver Project Management training again after not doing it for almost 10 years - I will put in some of Hofstede's stuff for fun - just so they can see the dimension scores of other nations / cultures.

Thing is my boss who is from the PI is nothing like what her countries score is on the Power Distance relationship - she is more like a Brit, Aussie or American

[wolf5370]

the idea alone is worth nothing in principal, its the execution of the idea that counts.

until the idea is executed - whatever it is built, marketed, delivered etc, it's not worth much at all imo. everything has competition, and if it doesn't, as soon as you start it will, and their execution could kill you.

the ipod isn't a great product, but the marketing is fantastic.

Agree with Foxxie here 100%. From an invester point of view (not that you are asking about investment, but you did ask for value) a 'company' (read: Business Idea) is only risk until it is executed. Until you have contracts (at least in principle) and/or some sales then the value is only asumed - and often far less than it potential and certainly less than you would value it. If you are worried of someone stealing your idea, then consider patenting it - if you have enogh confidence in it. Then you can talk to your potential clients openly.

You need proper documentation outlining your idea, how it will work, what you projections are (in place of proof that it is not a flash in the pan), costs, etc. Then talk to, or mail to, as many of the people that you consider your potential clients as you can. get feedback and se if its still viable - don't understate your costs as nothing is more offputting to a client than the costs spiralling between first contact and production.

Good luck.

[mr.buffalo]

wolf5370,

I unnderstand your reply but I am offering a service not a product.

[wolf5370]

wolf5370,

I understand your reply but I am offering a service not a product.

Hi, I understand it seems difficult to think of a service as 'a product' but in business terms it (partially) is - in so much as you still have sales (sold memberships, transactions for the services etc). Ideas can also be patented (Einstien patented E=MC^2 which was neither a product nor a business idea). The main issues from an investers point of view, would be that as a service it can be easily copied (and lets face it Thai's are great reproducers - just look how many 7-11s there are!), and that it has no asset price as it has no assets (products in stock). Therefore, the risk is higher and without some very good wordsmanship and sacrificing a large percentatge of the company, no serious invester would touch it. Of course, you are after clients rather than investors, so not your problem.

I still say protect it as best you can and sent out some sexy glossies/emails to your potetial clients. As to value, I guess you have to take a step back and say "What would I pay for that service?" multiply that by your estimated client uptake (by year over say four years - take into account that people will clone your idea as time goes by and will bite into your profit especially if its low-tech) and then at least half it.

Just my couple of pennies worth, and again, good luck.

Edited June 5, 2008 by wolf5370