How to sell an idea that will generate income?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

We are all different. Some people are better at generating ideas and concepts. Someone - to work out plans. At the third - consistently and methodically to implement. Therefore, the question of how to sell an idea is relevant not only for those who are looking for investments for their project. In fact, an original concept, a fresh look, and an innovative solution to an old problem can bring huge profits. On one condition: that there is someone who puts it all into practice.

So how do you sell an idea? There are several ways, they differ in cost, complexity of implementation, and the participation of the human factor. The first of these is to find an investor or partner. Announcements can be given on special portals, and on ordinary boards, and even in newspapers. This implies either the creation of a joint venture, or a percentage of a share of the profits, or a kind of "franchise". More complex andthe laborious way to sell an idea is to make an offer to potentially interested parties. Send out your offer, while it is important not to reveal the very essence, but only to describe in general terms what the concept is about. Otherwise, you can be almost one hundred percent sure that your idea will be "taken away" and you won't be able to get anything for it. Reliability and conscientiousness of partners is a key point. Many businesses fail precisely because everyone starts to "pull the blanket over themselves." Therefore, the selection of those to whom you can entrust your idea must be very strict.

Another way is competitive. If you are looking for ways to sell an idea, you can take part in various competitions and tenders. For example, many organizations promise funding for the most interesting and innovative projects. Therefore, if your idea causes responses, you can count on the fact that someone will want to invest in its implementation. Another issue is the division of responsibility and the formal structure of the business. That is, whether the author of the concept will be a third-party consultant, employee, shareholder or manager depends on who organizes the competition for grants and under what conditions. Recently, original auctions of projects have also been created, where various mechanisms for evaluating and connecting investors and creators of "intangible values" are used. You can look for similar sites and learn how to sell an idea with their help.

It should also be remembered that any"intangible assets" - that is, knowledge, skills, projects, know-how, concepts, brands - also cost money. And a lot. And not only at the very beginning, but also at any stage of the functioning of the enterprise. Therefore, it is advisable to either patent the idea if possible, or sign an agreement regarding copyright from the very beginning.

The third, already quite common way to sell an idea for a business is to create an information product. It can be an e-book, video, program. A course of study, training, materials for a seminar can also act as such a product. That is, what other people who are ready to implement or invest in a business may be interested in. When the product is ready, the question of where to sell the idea is solved quite simply. You can do this on your website, you can - through the mailing list or through special virtual content stores. Another option on how to sell an idea is to take part in various affiliate programs. Or write an article in a specialized magazine. However, in this case, even if they pay, then only for the text. And not for the idea itself, which, if skillfully implemented, can bring huge income.