A New Innovative Website Concept – What direction to take?

[SimonTurner1]

Hi Guys,

This is my first post, after the likes of Google brought me here. So I’d like to say a quick Hi to all from Simon in the UK:)

I’m a keen budding entrepreneur but am still rather new to the game and if possible I’d would be most grateful for some guidance and advice regarding a business concept I have come up with and the best way to take it to market.

I have recently developed a new online business concept that fills a very substantial gap in today’s health and fitness market. I come from an IT background and after analysing the project’s requirements and features in detail I have decided that going alone on this one is simply not an option.

I have spent time developing the business plan and various other supporting documentation, analysing the competition and designing prototype wireframe’s and detailed technical specifications. I know exactly how I want the site built and how it can make money, I just need to make it happen.

The idea is completely scalable and had a massive global market and I could quite neatly see if fitting into Google’s or Microsoft’s online portfolio of products / services.

In my mind I have a few options:

1 - Contact the likes of Microsoft / Google / Yahoo and attempt to the license the idea to them (as a sole trader) in exchange for royalties. I have already taken a little step down this road and guess what, it’s a nasty one. Microsoft refuse to sign NDA’s and will basically just run off with your idea, they also tend to partner with business compete with built solutions, rather than just entrepreneurs with business concepts (me ).

2 – Attempt to partner with a local UK based IT firm. Get them to build the site in return for equity and a share in revenues and IPR. Easier said than done I would imagine and id be lucky to find one that will do it for free.

3 – Try to scour the internet and build a team of programmers who are willing to work on the project in return for equity in the product. This could involve working with people in India / Russia etc and I’m rather concerned that an NDA protecting my idea in the initial stages wouldn’t be much use there. Communication would also be very difficult.

Sorry for the long post guys I just could use some good old wise words on this one I guess. I’ve spent 3 months working on this concept and know there’s a gap in the market for it, I just need to get it there!

Does anybody have any suggestions of options im missing or even better, people they recommend working with?

Thanks a lot for your help.

Best Regards,


Simon

[mphcoach]

Hi Simon and welcome!

Those of us from the Uk are growing in number and it's always great to spread the word.

You'll find the forum full of people who are interested to help you grow in your thinking as well as some practical suggestions for what you might do next.

Without getting too specific - it's your idea, after all - what sort of programming level are you going to need?

Regards

Martin
http://www.Coaching-Businesses-To-Success.com

[TheAnonymousMan]

Hi Simon

If you can finish off the Business Plan and think about your strategic direction or how you are going to use your product to convince people it's a great idea, it will set the foundation for your programming project. You see, when you are looking for funding you will need a Business Plan and Strategic Plan that will convince companies to invest into your new idea.

Has anyone achieved this idea before using another industry besides health and fitness that you know of?

You should also design some mockups as a "preview" for your programming project. This will also help reduce your programming costs as everyone will know exactly what you want if you have detailed mockups already completed including any functionality you require.

Starting mockups for websites and software applications on paper is the best way if you're not a guru in graphic editing software.

[bmueller47]

Hi Simon,

There are only a few active members from the UK. It would be good, if you share this forum site with some of your contacts to come online too.

I wish you well in your new venture.

If you believe it is a gap in the market, I encourage you NOT to give up.

All the obstacles will be worth it all.

Regards!

Beat

"Unlock People's Potentials!"

[ryan]

Hi Simon,
I really appreciate for the ground work you have done for your business and i will greatly recommend you to go ahead if you believe in your idea, it will work wonders ..trust me..
well about your design issues, i'm entrepreneur from india and deal in website designing,
may be you can out source some of your work to me .. without disclosing your exact idea.

this gives you two benefits:
1. cost is the very obvious one,
2. you can be relieved of this load so that you can focus on other aspects of your business.

Do let me knkow if i can be of some help ..
well there is a forum of this kind also, http://www.inhebe.com .....where you get entrepreneurs as well as teshiee for your work

[terrycan]

Dear Simon

Congratulations on your business idea.

I'm a little confused.

Is your invention hardware or software?