I have a super lucrative business idea.. And it can go REALLY well.

hitmeasap Level X⁵

January 29, 2017, 10:23 pm

7

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I have a super lucrative business idea.. And it can go REALLY well.

Fellow freelancers.

I am here today, with an insane idea, which isn't ground-breaking in any way, but it's a super large market and I know it can grow to something extreme, in terms of generated income.

Competitors, that have heavily invested into their business, are making millions of dollars per year on this, and I can fairly easy say that I'm interested in only a fraction of their business. - Best part of it, is that none of us, not me or my competitors will benefit OR lose a single cent if I launch this thing. - Kind of cool, right?

However, I need a very talented coder for this project and, with investments, in form of advertising and marketing, this will skyrocket for sure.

What I'm asking myself right now is..

Should I go after investors at this time.. And launch it "full scale" so to speak, right from the start.. Or should I go slow, without any large investments and investors?

The investments I'm talking about can be literally anything between $10,000 and $500,000.

The safest way would obviously be by taking it "slow", and launch it without any large investments. - But at the same time, it's easier, and better, to launch it "full scale". That would be easiest in terms of profit.

Any thoughts?

Cheers,
hitmeasap

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Everett

Everett

I would stick to doing it on my own for the time being. When you make some news coverage, or the ideas get popular then you should ask for some investors. Just note one thing: Investors always want their money back. Usually when you get investors you are basically working for them now because you need to make the money back for them. This sometimes takes time, and if your business idea fails then you will be owing those investors lots of money. So it's best to wait, and see what happens with the idea. That's what I would do.

8 years ago

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Lynne

Lynne

Oh I am so excited for you! Me personally I think I would launch it slow and on my own. I just don't trust other people to get involved and I don't like having my idea risked because of other people. The other side is that yes I may get the investment to launch it huge but then I would have to be tied to paying profit shares or whatever the agreement is with the investors.

Andre you are bright and hard working, I say with it alone unless you can find someone you truly trust!

8 years ago

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BizBuzz

BizBuzz

You definitely need investors if you want your startup to make it big. You just need to decide at what stage you want to bring in the investors. The later the better. If you bring in investors after some traction, you'll be able to negotiate a better deal ( you'll offer less equity for the same amount of money invested).

I suggest you develop MVP (Minimum Viable Product) and launch it by boot-strapping. Once, you have some traction, you can start looking for investors. Basically, showing some traction convinces the investors that your product idea is profitable.

If you have never launched a startup; you may consider getting a mentor or joining any accelerator or incubator. Are you on Linkedin? If yes, then you can connect with me there. I'm into startup mentoring. Have survived the first dotcom bubble of 2001 :-)

7 years ago

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Pixie06

Pixie06

There are many risks associated when you are starting a new business. First of all you need to measure those risks and if the returns are high enough then you can definitely go forward with the plan. Since you are starting up I will advise you not to rush and to invest a huge amount. If you are sure that this business will be profitable then you can gradually increase your investment.

7 years ago

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augusta

augusta

I have come to realize that some ideas sound economically right and great in theory but might not be same in practice especially on what we are yet to work with or have experience of.I can only go full scale with an existing business idea or experience, any new idea should just be experimented with, take a small scale of it and see how it goes before launching out in a full or big scale.

7 years ago

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Kakashi2020

Kakashi2020

From experience and from a business point of view, I would suggest to take Investors in and launch it full scale.

My reason is simple and logical, if you take it slow and after some time you could see some success in it then you end up losing a great deal of income because if you did launch it full scale then your profits would have been exponentially higher.

In business marketing, procrastination or using the minimalistic style is not encouraged. It's better to dive in full throttle as long as you believe that what youre doing is right. You can never attain success if you dont take risks and if you don't have confidence in your plans.

7 years ago

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Corzhens

Corzhens

For a new business I guess it is wise to handle it yourself until you see the growth to be stable and sure. For getting investors, you sound so excited that I am suggesting that you take it slow and steady because you may just be overwhelmed by your euphoria. Just reading the title of this discussion gives me the impression of your zealousness that you may be out of logic in your assessment.

6 years ago

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