General Question

Ltryptophan's avatar

What are my good ideas for making money?

Asked by Ltryptophan (11810points) June 9th, 2011

I have at least a handful of ideas that I think are worth a fortune.

It seems to me that without a business plan, and an investor, I’ll never be able to do much with them.

What can I do if my mind is constantly coming up with great ideas, but I can never seem to direct any of them to an end.

Is there an occupation that I can use this stream of ideas in?

I feel like I can’t even get one to fruition!

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11 Answers

brianhite's avatar

Get a job. Make money. Use money for your ideas. It takes money to make money and debt-free is the way to go.

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incendiary_dan's avatar

Printing press.

FireMadeFlesh's avatar

If you don’t feel you can put in the time and money to develop your ideas, you can always patent them anyway. Then you can draw up plans missing one vital piece of the idea, and market it to a company with the manpower and money to implement it. They will buy your patent from you, and you will walk away with some cash (though not as much as if you’d done the hard yards yourself).

marinelife's avatar

Ideas are a dime a dozen. It is the taking of them to market that takes the work and effort.

shonbro's avatar

Only ideas cannot get you money, you have to make a solid plan so as to be successful. If you yourself believe that you have the capability to do whatever you want then nobody can stop you from earning money.

If your idea is unique, innovative and completely new then patenting is a good way to start with. If other people like your idea then you can go for patent licensing. By this way the people having money will implement your idea and will pay you a certain percentage of revenue they earn and you will automatically receive money and be rich.

YoBob's avatar

Your best bet is to go to college, major in business administration, and while there make valuable contacts that can help you launch one of your many ideas as a viable enterprise.

As a bonus, if the enterprise you launch falls flat, you will still have an MBA that you can use to get a job in an established company until you are ready to try to launch another one of your own.

P.S. Having a great idea is the easy part. Great ideas are a dime a dozen. The real work is in making the business end of that idea a reality, and this is where education and social contacts can help.

gorillapaws's avatar

Ideas are cheap, making them into reality through hard work is where they become valuable. There are 2 basic strategies: bootstrapping or getting investors.

If you bootstrap, then you’re going to need to bust your ass after hours and on the weekends pumping everything you can scape into getting your idea started on a small scale. As it starts to become profitable, you can quit your day-job and slowly reinvest profits into expanding your business.

If you go the investment route, you’re going to need a VERY tight plan and are going to relinquish a lot of your control (and future profits) to the investors. Without a track record of running a successful business, many investors will be reluctant to put their money out there with someone who they don’t know. Remember that these investors receive requests from dozens of dreamers every day, and they only end up funding a small percent (of which only a small percent actually become profitable for them).

Ltryptophan's avatar

@gorillapaws this is what I was afraid of. I think I am going to go somewhere between investment and bootstrap. I will bootstrap till I have something, then pitch the profitable thing to investors… :) Hard work, here I come!

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