Joseph Bona
New Contributor
So I've been brainstorming ideas for businesses for years now and had one in particular that I can see being a billion dollar idea. I thought it up about a year ago and got really excited about it and started planning the execution. Then I told myself it is too hard, I could never make it work. How can I start up a nationwide business at my age with only $6,000 to my name?
This was before I read TMF . Now, with a new view on myself and my future I have a 'why not' point of view and see that this idea is Fastlane material. From reading the book and reading tons of previous threads on this forum the main take away for me is:
A) You will never know until you try.
B) Failure is not necessarily a bad thing; the most important thing is how you deal with your failures.
So that being said here's some detail on my idea...
-It would be a nationwide company (eventually) with virtually unlimited potential customers.
-I would face some stiff, very well known and accomplished market leading competitors.
-I would be filling a need in the marketplace that none of these competitors have reached. On the contrary, they have created this need. The idea is innovative but could be copied by an established competitor with millions of existing customers.
-Start up cost would be high. Certainly more than I have.
-The business is not internet based and is not really B&M per say and would not need a lot of paid employees.
-It is totally brandable and the marketing possibilities are endless (I have a lot of innovative and unique ideas on the marketing)
My question is should I dive head first into this venture and if so how can I raise enough capital to develop a working prototype/test market?
Or should I take on other ventures I have in mind in order to fund my truly Fastlane business idea?
I am looking to the more experienced member to shed light on how to get an idea off the ground with little startup cash and how to defend that idea from well established companies who have upwards of $10B revenue last year :huh2:
Thanks in advance
Joe
This was before I read TMF . Now, with a new view on myself and my future I have a 'why not' point of view and see that this idea is Fastlane material. From reading the book and reading tons of previous threads on this forum the main take away for me is:
A) You will never know until you try.
B) Failure is not necessarily a bad thing; the most important thing is how you deal with your failures.
So that being said here's some detail on my idea...
-It would be a nationwide company (eventually) with virtually unlimited potential customers.
-I would face some stiff, very well known and accomplished market leading competitors.
-I would be filling a need in the marketplace that none of these competitors have reached. On the contrary, they have created this need. The idea is innovative but could be copied by an established competitor with millions of existing customers.
-Start up cost would be high. Certainly more than I have.
-The business is not internet based and is not really B&M per say and would not need a lot of paid employees.
-It is totally brandable and the marketing possibilities are endless (I have a lot of innovative and unique ideas on the marketing)
My question is should I dive head first into this venture and if so how can I raise enough capital to develop a working prototype/test market?
Or should I take on other ventures I have in mind in order to fund my truly Fastlane business idea?
I am looking to the more experienced member to shed light on how to get an idea off the ground with little startup cash and how to defend that idea from well established companies who have upwards of $10B revenue last year :huh2:
Thanks in advance
Joe
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