Quora Answer: How Do I Raise Capital for My Ideas for Some Products I Think Could Take Off?

The following is my answer to a Quora question: “I have a few ideas of some products that I really think could take off but I do not have the capital.  What should I do?”

Firstly, do some research, and refine your idea.  Do a cost benefit analysis, and costing.  Write a business plan.  The three things an investor will look at to decide if he will read further, is the executive summary, the exit strategy, and the projected return on investment.  The executive summary should not be more than a page.  The exit strategy details when the investor may exit, and where the business is going with the idea.

Secondly, network to find potential investors.  Qualify them, and do not simply give your idea to every yahoo who has money.  If they have your idea and the business plan, they do not need you.  Always hold something back, and never tell people everything.  If it is feasible, consider a patent or copyright, depending on what your idea is.  Get the investor to pay for it, if possible, but make sure that ownership is yours.