Commerce Realm

Anything and everything related to commerce - we'll feature product reviews, updates on new services, important news that affects your business and a lot more.

Tuesday, August 01, 2006

You've got a great idea - what now?


As Web 2.0 seems to be really taking off, more people are getting big cash for some really great ideas. So, what do you do if you have an idea but no real plans to implement it?

First, you'll need to get a developer - especially if you don't know how to develop the app on your own. Check out places like Guru to easily find hundreds of developers. Just remember to sign anyone you hire to a non-disclosure, and don't provide too much information to potential developers.

Next, you'll need to get a business plan and a business model together. This will help you plan your initial start-up costs and see where your company could be if you can get it where it is supposed to be.

You can try for early seed money, but be forewarned, it isn't easy. Try MyCapital for some great resources on finding investors. You can even set up a free profile and have investors contact you.

Once you get to this point, you may need to look at hiring some support staff, as well as some established business advisors that can point you in the right direction. If you find a great advisor, this can even help you attract investors.

Stay on top of the news, the market and your competition, and don't be afraid to network with other companies that may mesh well with your idea. Just don't give it all away!

With a little perserverance, your idea will pay off!