Dear Aunty B,
Thanks firstly for being here… I’m very much enjoying reading through your advice.
Here’s my query:
I have an idea that is aimed at telcos like Telstra, Optus, Vodafone and various international telcos.
The idea is not a product…. but a telephone service that they would setup… a quite simple setup that would involve no new technology as they already have the technology, but a new way to make money…
Therefore the way this would work on my part would be to explain how to set it up on their end and explain the process of how it works and how they would make money.
My problem is, how could I contact them, tell them the idea and then collect a commission on every sale… a few cents on the dollar for life… without them going behind my back and doing it themselves and not paying me anything?
Also how would I do this worldwide?
Is this possible?
I would prefer to make money on a commission basis (a few cents on the dollar) instead an upfront payment to use the idea.
My thought was to apply online to those global angel investor websites but instead of asking for money as I don’t need any, I was going to ask for an angel investor in each country who had previous dealings with telcos in their country that could help me pull this off.
What are your thoughts?
How could I protect my idea?
And how could I do this globally?
Kind regards,
Christian
Dear Christian,
Pardon me for not answering your question before. But I have now had more than several emails from you so I will give it a go. You see, I get a lot of questions like yours and they usually go like this:
Dear Aunty,
I have an idea. I had it in the shower. That’s right! While I was lathering under my arms! And the idea was so powerful, so awe-inspiring I dropped the soap! Now that is a story to tell the kids once I am rich and famous and hot. How I got my idea while washing my armpits.
Anyhoo, to cut a long question short, the idea is worth millions, well let’s face it, billions. No one has ever thought of this idea before. Ever! But it could make many companies lots of money. I could retire on this idea. I could live in Hollywood on this idea. I could get on the Forbes rich list with this idea!
But then I had another idea. I don’t want to do any of the hard work of developing the idea, or raising the money, or hiring the staff, or building the idea into a prototype. No siree. In fact, I don’t want to take any risk at all. And why should I? Why should I lie awake at night worrying about key staff leaving or the lack of sales or the changing marketplace? Why would I want to commercialise the idea? Why would I even want to develop a prototype? Why would I want to create jobs and provide society with a new innovation which will improve the quality of people’s lives?
Why in fact would I waste my time even doing basic research on the idea? No. I just want some angel floating around to take my idea and do all the hard work for me. They are angels right? They flap around doing good deeds? Well, let them prove it. I want some global angels – no local ones need apply – to fly around and talk to whomever and tell them the idea!
All I am asking then is that they pay me some money on every sale!
How is that for an idea? Huh? But Aunty my problem is this. I don’t know how to do anything. I don’t have the knowledge to develop the idea, the networks to explore and research the idea, the money, passion or expertise to commercialise the idea, I don’t know any VCs or angels, I don’t know anyone in the industry… in fact I know bugger all.
Can you help?
…to which Christian, I usually reply, no, I can’t.
Good luck!
Your Aunty B
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