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Getting started

Discussion in 'General Business and Entrepreneurship' started by Joe, Dec 8, 2015.

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  1. Joe

    Joe Member

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    Hey everyone, so I have a business plan and invention that's soon be be patented. But because I'm young(starting college)and don't have any money to start.

    Can anybody give me help or advice on how to get funding for atleast prototypes so I could be crowd funded and/or be funded
     
  2. Jessica Danes

    Jessica Danes MVP Member

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    @Joe I'm sorry your question was never answered! Hopefully, you were able to find the information you needed, and your business is doing well for itself! I'll try my best to answer your question for anyone else who might come along this thread with the same inquiry.

    Nowadays with funding, many start-ups turn to crowdfunding websites like Indiegogo and Kickstarter. Of course, you can still go to the bank and ask for a loan, or even see if your family will support you in any way. It's said many investors like seeing that a business has put all their resource and heart into their company. There are also "angel" investor groups - professionals (doctors, lawyers, business people, even experienced entrepreneurs) who are looking to invest in new projects. A quick Google search in your area should lead you to some investors nearby.

    Prototypes are more difficult. If you have the means and the supplies, you can try your hand at building your own prototype! If you're not so skilled, 3D printers can do amazing things. If you have access to one, try printing your design. There are also products already like ShapeLock which help you mold the plastic into the design you want. If all else fails, you can find a prototype professional near you, like ThomasNet, to guide you through the process of creating a prototype with them.

    Good Luck! Let us know if you got your business up and running!
     
    djbaxter likes this.
  3. Jason Oman

    Jason Oman Member

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    From spending time with, and doing projects with lots of millionaires, I have a suggestion, or 2, for ya...

    (Disclaimer: I am not an Attorney, or giving actual Legal Advice, in any way shape or form.)

    Something to consider is to start doing some marketing/promotion for it and turn it into sales. Once you actually have sales, and even more important, a way to actually generate more sales ongoing (by repeating the marketing and promotions that work), it gives you a whole other track to run on.

    In other words, if you need money to protect it, and the concept is solid and WILL generate sales/revenue, then actually making some sales with it, could generate the money to then protect it, give you solid marketing to use to roll it out once it is protected, AND, could possibly attract people who can help you keep rockin' things forward with it.

    And/Or, consider doing a poor man's patent (IE: mail a copy of it to yourself, and then don't open it, so it has the Postmaster's Date Stamp on the unopened package. and even keep the postage receipt with it as well, if the receipt shows any package indentification/weight/size info to go with it ).

    Please know I'm not an attorney, or an attorney's Spokes Person (to copy a TV commercial). So, I can only make suggestions based on pesonal experiences. (I know lots of people are scared their idea may get stolen, before it's protected. But, an idea that just sinks into the depth of never being anything for anyone, is just as bad/worse.)

    Another way of looking at it too, is that, unless and until you have proven way/s to market it and make sales, it doesn't matter if you DO have it patented/protected. Because, having something totally protected that you can't make any sales with, doesn't give you anything valuable worth protecting, or putting your investment of time into, anyway.

    That said, I know it can be hard, because of our own emotional attachments, to not let paranoia hold us back. But, from my experience with lots of millionaires (I've spent time with, &/or have done projects with 25+ millionaires at this point), overly-paranoid entrepreneurs rarely succeed at high levels.

    Here's to you making REAL forward progress, and looking back on this, as something you can laugh at all the way to the bank!

    Jason Oman
    TV Success Story & #1 Best-Selling Author
     

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