You have come up with a fantastic money making idea and now all you need to do is find a way of turning that ideainto something tangible. With the knowhow you know your idea could earn you a fortune. There are endless stories online of self-made millionaires who came from nowhere, so there’s no reason why the same fate can’t happen to you, but you do need to know how to kick start your idea, so where do you start?
Start by Taking Action
You’re already reading this article so you’ve made a great step towards making your dream a reality. Continue doing what you’re doing, be active. Research online into similar products, register a domain name and start working out the best way to market your idea. There’s nothing stopping you and the action you take now can be refined at a later date, just stop putting things off and get going.
You may have people around you that are raising doubts and this can be very off-putting even to the most passionate person. There are plenty of people who think there’s no point trying to succeed with an individual idea because the competition is fierce or there’s too much work involved. Don’t listen to this negativity, there’s no reason for you not to be successful if you’re willing to put the work in and you believe in your idea.
Protect Your Business Idea
You probably have some concerns about your idea being stolen but don’t have the funds or the patience to wait for a patent to be accepted. Thankfully there are ways for you to protect your idea so it’s possible to get the ball in motion. When discussing potential collaborations or outsourcing help use non-disclosure agreements, a useful legal tool that will give you the potential you need. You should also:
- File a provisional patent application and label your product as patent pending
- Apply for a trademark
- Consider teaming up with the greatest competitors in the industry. They will benefit from your product and will have little reason to rip you off
Get in Touch with Local Entrepreneurs
Start networking and getting to know fellow entrepreneurs in your area. Look online, use social media and join local groups. Put yourself out there, listen and learn from their experiences and make use of any new contacts that provide services and products that could be of great use to you.
Make a Prototype
You may think the cost of making a prototype is out of your reach, but thanks to 3D printing from Rapid 3D it’s now a viable opportunity for you. With the prototype in your possession you can begin looking for sponsors, investors and customers. You can also use kick starter websites to look for funding, this can be a fantastic way of raising awareness and building up the money you need to get your business idea off the ground. A prototype helps to encourage potential investors as they’re able to easily visualise your concept.
The author is a freelance blogger. He has been writing for digital media since the start of 2009 and continues to create hundreds of interesting and useful articles each month for online publications. He has a passion for smallbusiness, entrepreneurs and technology. Currently he is creating his first eBook due for release this summer.