Is there a way I can sell my business idea?

[Violinni]

I know that with this type of thread I’m “asking for it”, but I’m bracing hard for a humouristic impact.

I had a very profitable business before, no one did it in entire Europe. The model was very successful mostly because of the simplicity. I established contacts I still have.

I lost my money because of a few bad mistakes and after that I was not able to continue running my business.

If I had the same monetary capital right now, no hesitation, I would’ve pulled that off again.

It’s a legal and legit business.

My question is, can I legally sell an idea, where, how to back my story up without giving out any major info about the steps I took and how I did it?

People will say “if if it’s such a great idea, how so no one copied you already”.

Because people didn’t really know how much I was making, and people don’t know what to exactly offer. Some people tried mimicking me but failed miserably.

I feel sad for not having the muscle to continue where I was before. If there’s a way someone else could, that’d be great.

But I can’t really see how I’m going to prove anything and put that into a contract without revealing the structure of it.

Any ideas will be greatly appreciated.

Trolls are welcome too since sometimes they have some proper logic too.

Cheers.

 

[Ray272]

Ok so what start up cost is needed?
What type of business is it in?
What mistakes did you make?
What is very profitable?

 

[Clinton]

My question is, can I legally sell an idea

No.

how to back my story up without giving out any major info about the steps I took and how I did it?

You can't.

People will say “if if it’s such a great idea, how so no one copied you already”.

They won't ask this because, as you say, others have tried to copy you and failed "miserably".

Which means your initial success was down to luck, being at the right place at the right time or ... having a unique and killer advantage that you aren't willing to explain / talk about / prove / quantify.

But I can’t really see how I’m going to prove anything and put that into a contract without revealing the structure of it.

If you can't do that then all you've got to do is find someone who'll give you a large chunk of money on your assurance that you'll invest in a new business and make it profitable. I can give you the email addresses of some Nigerian princes who are looking for investment opportunities.

 

[Violinni]

Ok so what start up cost is needed?
What type of business is it in?
What mistakes did you make?
What is very profitable?

I had around £20,000 in it. First 6 months I was making £300/month without advertising.

My only advertising was an ad on a specific local place I do not wish to share at this moment.

After 12 months I was making around £500 clean income.

The work was 4-5 hours a day, sitting at home.

There was some physical work included, but lightweight stuff.

1 and a half years later I was making around £1,100 a month if it was a bad month, and up to £2,000 a month during the best months, mostly around he winter. My top record was £2,100.

Sitting at home, working from a comfy chair, barely 5 hours a day.

No special skills needed. All taxes were paid. This was my best.

I personally think, receiving £2,000 of clean income for not doing anything, and having only £20,000 as an investment, that’s a hell of a lot of money, for me at least.

It’s not services. It’s a product.

If someone puts a good amount of £100,000 or more, £200K, he can rule over Europe.

My mistakes were that I became very arrogant. 19 years old, I bought a brand new BMW, M-package, I bought expensive computers, clothes, and instead of putting the income back inside, I spend it like crazy. I was buying and then selling useless stuff, mostly cars and flashy things.

My grave mistake was also having a big mouth. A company tried to push me around, wanted me to work with them, I refused, they provoked me and my reaction was the end of me. I got into trouble because I was stupid.

Lost it.

They tried taking it all over but failed. It’s now open for someone that can and will appreciate it.

 

[Violinni]

“Which means your initial success was down to luck, being at the right place at the right time or ... having a unique and killer advantage that you aren't willing to explain / talk about / prove / quantify.”

My initial success was GREAT LUCK. I had no ideas and I purchased something for myself. I didn’t like it and I tried to sell it. Sold it online for a matter of hours. I ordered more. Kept one for myself, sold everything else for a few days.

So I purchased more. A high risk that turned to a gold mine.

My advantage? I was not greedy. I preferred small gainings.

Then a friend of mine helped me import things that are not available here and that was the moment it all went uphill. He gave me knowledge I still have.

I think I’ll pass on the Nigerians.

 

[Ray272]

Ok but what Industry does the product fit into and if it was a physical product how was it being stored/shipped. Was it a B2C business?

5 hours a day to net 2100 is ok but that's your top end which took time. Seems to me your idea is not the value but the process you employed to make it profitable, is.

 

[The Byre]

So you are selling something into Europe that is otherwise not easily available. The only problem with that, is that there are thousands of great products that are not available, that people want and/or need and are prepared to pay for. European pipe-wrenches for example. In the UK, hardly anybody is even aware of how inferior the UK-style of pipe wrench really is and that European pipe wrenches are cheaper and ten times better.

Log-pots (i.e. volume controls). You can replace an expensive VCA-controlled pre-amp for your 5.1 or Atmos hi-fi with a simple multi-gang logarithmic potentiometer, but absolutely nobody sells them as components.

There are hundreds of goofy and everyday things that people want and need for medical supplies, that are just not available in the UK. Certain types of catheters, sutures and swabs spring to mind, though I am sure that the medical community could name dozens of examples.

Any one of these gaps in the market could be the key to a future fortune - the trick is to just go head and do it! A six-gang log pot? They're about $1.50 each in batches of just 100. Sutures and swabs? Pennies! Pipe wrenches? £2 to £15 depending on size.

You don't need £200k, or even £20k to 'rule Europe' in log-pots or catheters, you just need to buy a batch and put the damn things up on eBay and Gumtree.

 

[Ray272]

Interesting last sentence there. Gumtree as a sales platform. Do ebay even allow sales of products on Gumtree or is it charged now? Gumtree work well?

 

[Violinni]

Ok but what Industry does the product fit into and if it was a physical product how was it being stored/shipped. Was it a B2C business?

5 hours a day to net 2100 is ok but that's your top end which took time. Seems to me your idea is not the value but the process you employed to make it profitable, is.

Yeah, it’s a retail trade only. Industry is “Tactical Gear”.

Shipped through a regular courier.

You could be right. Not the idea but the process.

Most people after me failed to import it quickly and for cheap, failed to understand what sold the best, and what didn’t sold quickly, and of course greed plays a good role because some of the stuff you can find in Europe but the price is really so sick you can’t even imagine. I’m talking hundreds of % of artificially inflated prices.

Everything I imported from the States. It’s a huge market and everything is cheaper. Even Volvos are cheaper there than in Sweden.

 

[Violinni]

So you are selling something into Europe that is otherwise not easily available. The only problem with that, is that there are thousands of great products that are not available, that people want and/or need and are prepared to pay for. European pipe-wrenches for example. In the UK, hardly anybody is even aware of how inferior the UK-style of pipe wrench really is and that European pipe wrenches are cheaper and ten times better.

Log-pots (i.e. volume controls). You can replace an expensive VCA-controlled pre-amp for your 5.1 or Atmos hi-fi with a simple multi-gang logarithmic potentiometer, but absolutely nobody sells them as components.

There are hundreds of goofy and everyday things that people want and need for medical supplies, that are just not available in the UK. Certain types of catheters, sutures and swabs spring to mind, though I am sure that the medical community could name dozens of examples.

Any one of these gaps in the market could be the key to a future fortune - the trick is to just go head and do it! A six-gang log pot? They're about $1.50 each in batches of just 100. Sutures and swabs? Pennies! Pipe wrenches? £2 to £15 depending on size.

You don't need £200k, or even £20k to 'rule Europe' in log-pots or catheters, you just need to buy a batch and put the damn things up on eBay and Gumtree.

That’s still a lot of work because you’ll need to process a lot of stuff every single day.

My average sale price for 1 item was £50. I’ve sold in the UK too because the same product for example you can find for £200. That’s just mind blowing.

The worst thing was warranty, warranty abuse and packages that went missing.

I had to stop importing specific models just because they broke down more easily.

Warranty abuse started happening the last days.

Stealing...couriers did that. Customs employees too. Can’t do anything about it.

And I still think selling one product for £50 or for £150 (I had expensive stuff for like £400) is far more superior than selling £2 supplies that’ll eventually drain your energy.

I can’t seem to understand how are Chinese people coping with all that waste of time to send me a package on the profit of £0.20.

Last month I ordered some eBay junk to give as a gift to a friend because he wanted it so much. Chinese people sell super cheap stuff and always offer free shipping. For me that’s insanity knocking on one’s door.

I mean, I worked alone so I can keep all the profit for myself. Imagine you have 100 packages to send today and every package will profit you £0.10. That’s just stupid if you’re one man. And if you have employees, you still have to pay them, right?

Yayy.

 

[Ray272]

Ok so a tactical product, so what is the product because I'm sure it's already out there in EU but it appears you found a much lower price and supplier in US so there is your value.

If you are 100% sure you can beat everyone on price and undercut the market at the same time. Why not go back to your supplier and become there EU rep and pitch it into tactical resellers? If your source is so good and so obscure and you do not want to commit your own cash. Why no just pitch them 10% of product order value and look to appoint a distributor in every EU country?

 

[Violinni]

I also gained good rep because I did fixed some of my customer’s already purchased goods from someone else.

They send me the thing, I buy spares from the official dealer, charge the customer for the spares and for my work, and a friend of mine was helping me on the repairs so I gave him a cut too.

But that was like a secondary thing. Really more like a hobby.

 

[Violinni]

Ok so a tactical product, so what is the product because I'm sure it's already out there in EU but it appears you found a much lower price and supplier in US so there is your value.

If you are 100% sure you can beat everyone on price and undercut the market at the same time. Why not go back to your supplier and become there EU rep and pitch it into tactical resellers? If your source is so good and so obscure and you do not want to commit your own cash. Why no just pitch them 10% of product order value and look to appoint a distributor in every EU country?

It’s out there in the EU, but not very popular. Popular only in specific countries. Specific models popular in specific countries too.

I tried becoming a dealer for two of the brands and they said they have no interest in selling their product here where the market is weak.

Some of the manufacturers don’t have dealers anywhere.

Some of the brands are small family firms that produce custom goods and I have to wait a ton of time but then oh yeah did I made some bees.

What I did was purchase big quantities from small dealers from the South, they gave me a huge discount, sent me brochures and small gifts too, I sold everything in no time.

If my current business gets more profit, I’ll go back to doing my old thing and ditch this.

At least I was kind of a local monopoly.

 

[Violinni]

OK, I will give you a hint. The Czech Republic, Russia, UK, France, Germany, Ukraine, Bulgaria and Portugal were my top selling destinations.

 

[Ray272]

Gotta be some kind of weapon or self defence tool like a stun gun or some bb gun biz.

 

[Violinni]

Could be. Or could be not.

#USAmade

 

[Ray272]

Know the market but it's a risky business if it's mace and stuff like that. Same with cell phone jammers. Can be made in uk but not sold.

 

[Gordon - Commercial Finance]

Taser.
Pretty sure they're illegal to sell here....

 

[Violinni]

Know the market but it's a risky business if it's mace and stuff like that. Same with cell phone jammers. Can be made in uk but not sold.

You’re kind of on the right track. You’re close. Could be tricky. Depends.

 

[Violinni]

Taser.
Pretty sure they're illegal to sell here....

I said £50. Tasers cost $1,000.

 

[Gordon - Commercial Finance]

Yeah I'm afraid I didn't really read anything properly. TL;DR...
I've lost interest now that this has become a game where people guess what you are selling. If you want advice, give info. Either way I'm out.

 

[Violinni]

Yeah I'm afraid I didn't really read anything properly. TL;DR...
I've lost interest now that this has become a game where people guess what you are selling. If you want advice, give info. Either way I'm out.

People came very close by so I think that’s enough. “Tactical gear” and “for self-defence” are a very tight narratives by itself, I reckon.

Cheers, anyways.

 

[Mr D]

Tactical gear is available from a number of suppliers, both over the counter and below the counter. Niche market, like for a lot of things.

If its so profitable for you then get your family & friends to pony up some money and invest. Easier than the banks. Or save up and do it.
You have done it once you can do it again. Making different mistakes next time, not the same ones.

 

[Violinni]

Tactical gear is available from a number of suppliers, both over the counter and below the counter. Niche market, like for a lot of things.

If its so profitable for you then get your family & friends to pony up some money and invest. Easier than the banks. Or save up and do it.
You have done it once you can do it again. Making different mistakes next time, not the same ones.

Making no mistakes is the best option I’d say. Agree? If that’s even possible.

Never took a loan, never will. I don’t want to lose “everything everything”.

 

[Violinni]

Tactical gear is available from a number of suppliers, both over the counter and below the counter. Niche market, like for a lot of things.

If its so profitable for you then get your family & friends to pony up some money and invest. Easier than the banks. Or save up and do it.
You have done it once you can do it again. Making different mistakes next time, not the same ones.

A lot of things are not available here in Europe, believe me. Like the gentleman from above said “people are afraid and are not exploring it”. But that’s actually a good business. If you have a steady base of fans and returning customers ofc.

 

[mzone]

You can't sell idea, but you can sell full program. If that an service, you can organise some paid courses, if that's good product, then you can sell it to wholesalers.

You also can open an franchise opportunity and take money for your brand, but no one will buy something what you kept in sercret.

 

[Mr D]

A lot of things are not available here in Europe, believe me. Like the gentleman from above said “people are afraid and are not exploring it”. But that’s actually a good business. If you have a steady base of fans and returning customers ofc.

Depends where you look.
Some stuff simply isn't in high demand.

 

[AllUpHere]

The term 'tactical' is used a lot these days to part stupid people with their money. You can get tactical torches, tactical bags, and even tactical pens. The idea behind it is to convince people who are scared of their own shadow that they need to carry something that makes them feel less vulnerable (not that they know it).

On a more serious note, anything designed to have a purpose for self defense will be illegal to carry in the UK. That's why a lot of this stuff is popular. The above mentioned people think they will be safe from both attackers and the law if they have a 'tactical' pen or torch with which to defend themselves.

 

[Mr D]

Making no mistakes is the best option I’d say. Agree? If that’s even possible.

Never took a loan, never will. I don’t want to lose “everything everything”.

Then your product is a big risk.
Otherwise you would not have a chance of losing everything.

 

[Mr D]

The term 'tactical' is used a lot these days to part stupid people with their money. You can get tactical torches, tactical bags, and even tactical pens. The idea behind it is to convince people who are scared of their own shadow that they need to carry something that makes them feel less vulnerable (not that they know it).

On a more serious note, anything designed to have a purpose for self defense will be illegal to carry in the UK. That's why a lot of this stuff is popular. The above mentioned people think they will be safe from both attackers and the law if they have a 'tactical' pen or torch with which to defend themselves.

Some of the stuff - some - is tactical. It is as you say used to add to the price for a lot of things.
Bit like 'organic' does or 'free range' when in reality you don't know for certain where the thing came from.

Anything can be used to defend yourself or others, its the amount of force that is relevant. And of course certain things you get into trouble with simply opening in public (like a gun case) or having on your person without good reason.
A metal walking stick can bruise, break bones or possibly even kill. The NHS issues many thousands of them every year. Next time you are out count the number of people openly walking about with a walking stick.
A weapon. Or an aid to walking. Not necessarily both at the same time.

Gloves.
http://www.military1st.co.uk/combat-gear-gloves/

Can adapt your own much cheaper. But some like the look of a basic pair of gloves with an insert costing under a pound that doubles or more the price of the item.

 

[Clinton]

Never took a loan, never will. I don’t want to lose “everything everything”.

So you won't risk anything and you want all the risk to be borne by somebody else?

Sounds like a good plan.

You should reconsider talking to those Nigerian princes.