Where to start with internet based business idea?

[SlinkyMike]

Uhmm... where to start? I hate posts like this myself, some punter has a 'million dollar idea' but can't tell anyone too much for fear of having it stolen, typically - if I was reading this by this stage I'd have found something more interesting and less sad to look at online but I sincerely would like some information on where to start with this...

I have an idea for a product/service/protocol (vague enough?) that is internet based. The closest thing that I could compare it to is Shuttleworths security gizmo - I mean this purely in the nature of the thing, I am not saying that its going to sell for billions!

Does anyone have any idea who I should talk to first in trying to build and market something of that nature? I'd specifically like info on:
a.) How to go about developing it
b.) How to monetise it once it is built

Thanks and sorry for the 'cloak and dagger' stuff - obviously: I believe I am on to something and do not wish to expose the idea until I am proven right or wrong.

[Gaz{M}]

I would patent the idea first (or get a provisional patent), then start talking to people.

[bhangie]

U need to start and create a business plan like all other businesses, if u want to get some where all your questions will be answered as you setup your plan.
Most important is a business plan.

[Conradl]

a.) How to go about developing it

Find an investor, IDC, government etc. and ask them for funding. Requires a very detailed business plan. You then get money to develop it, but it may take years for the process to complete.

You could also partner with somebody who will develop the system for you, for a percentage of the future revenue. This is quicker, and perhaps better than looking for funding. I am currently doing this for an idea that was brought to me by a person. It reduces your risk, in that the partner carries the initial expenses; also your partner will work better in order to maximise their own earnings.

b.) How to monetise it once it is built

Sell it to Microsoft A lot of start ups are launched with the purpose of selling out in a few years to somebody who will better utilise their technology....

[Conradl]

I would patent the idea first (or get a provisional patent), then start talking to people.

A patent may be difficult. Think of the Mark Shuttleworth analogy: he could only patent his product once he had a working solution; which requited money to create. You can't patent a "New idea to provide internet security using certificates".

What you will definitely want to do is sign an NDA (non-disclosure agreement) when dealing with people.

[Gaz{M}]

You can patent an idea if it is detailed enough in how it works. You can't patent a concept like you have stated. But you can patent "Improving Internet Security using an MD5 hash algorithm with recursive binomial estimation over TCP/IP".

If you just have a vague idea of the product/concept, I don't see how people will take you seriously anyway.

[SlinkyMike]

Thanks for the replies so far.

I am fairly clear on the pints covered so far.

What I was hoping for is something along the lines of: "Get in touch with xxxx institute of helping would be internet entrepreneurs."

[Conradl]

I agree. However, another reason for using an NDA is to secure non-patented IP:

PartyA enters into discussions with PartyB to develop the patented product ("Improving Internet Security using an MD5 hash algorithm with recursive binomial estimation over TCP/IP"). After 6 months PartyB takes all the IP to PartyC and creates a new patent for "Improving Internet Security using an MD6 hash algorithm with recursive trinomial estimation over TCP/IP" (a different product). The NDA would prevent this from happening....

[Conradl]

Thanks for the replies so far.

I am fairly clear on the pints covered so far.

What I was hoping for is something along the lines of: "Get in touch with xxxx institute of helping would be internet entrepreneurs."

Are you black/previously disadvantaged?? How much money do you need? There are a lot of places out there willing to help, but it depends on how much capital you require. I can also assure you that it is a pain in the ass to unlock those funds....

[SlinkyMike]

Its less about funding for the moment and more about how do I go about exploring the idea? Possibly build a small scale POC?

...as you can probably tell: i am completely at sea here but I'd really like to find some direction.

[Conradl]

Then my original point stands: Find a partner who can do the necessary technology, sign an NDA to prevent them from stealing the idea and take it from there.

Feel free to contact me directly if you need any assistance; I am always on the lookout for new multi-billion rand opportunities

[SlinkyMike]

Man... it really isn't my day today, had a couple of bad news phone calls before 10am; been totally preoccupied with my 'next big thing' idea - just thought I ought to punch some relevant keywords in to Google to see if something similar has been done... what do you know? - someone did exactly what I was planning and it went live in March of this year. I mean COME ON!! Give me a freakin break already!

I suppose everyone has heard of this before and I am the sole ignoramus?
Here is their FAQ: http://www.teldomainnamesfaq.com/

[Conradl]

Never heard of it either

Don't feel bad; my brother and I have at least 20 "Brilliant Idea" moments a month - one will stick eventually