Mon 30 Apr 2007
An Idea is Not a Product. A Product is Not a Business.
Posted by jtmcarthur under Funding, Startups
Comments Off on An Idea is Not a Product. A Product is Not a Business.
Several times over the last two months, I’ve been approached by people saying something along the lines of, “I’ve got this great idea for a new product that could generate millions of dollars in monthly revenue, but I don’t have the time, money, or expertise to develop it. What should I do with my idea?” A similar question was posted on LinkedIn, and I took the time to post an answer. My answer to the question in turn prompted a small flood of additional requests, and I received, for what it’s worth, the LinkedIn designation, “Best Answers in Business Plans,” by the guy who posted the question.
I encourage you to take a look at some of the other answers that were posted. For those of you who don’t want to take the time, however, I’ll sum up. Here are the Top Five responses to what you should do with an idea for which you have no time, money or expertise to develop. (more…)