Erik,
I`m being a little unfair because you only have your own image and that what you have seen in the past to base your judgement on how the program will operate and perform. You are unaware of the dozens marketing programs, the business and consumer incentives for participation, the distribution channels and the many other factors and programs that I have organizaed and will have implemented to ensure the success of the Idea development segment of the organization.
So I will outgoingly agree with you that what you have described would probably fail miserably. As I have tried to explain in my previous posts and replies , I`m a Professional Problem solver. I look at any programs and make it better, I challenge anybody for any program. I have taken the concept of product development and have eliminated all of the problems that I am aware of so far. (you don`t know, what you don`t know, if you don`t know, you don`t know it). I have never claimed to know everything, but once I learn about a problem I can solve it.
"splitting up the profits" ....
I`m still unsure what the problem is, if each person agrees to do "x" for potential "Y" compensation, even if they do take equity stake, their share of the profits (their share of the expenses, the COGS) will be predetermined just as if they were billing any other business for their services.
By having multiple participants for each service needed the designers and engineers can be selective to which products they choose to participate with.
By owning the Businesses and services that are needed to develop the product Ideas that are submitted (call it self financing if you choose) the problem is also eliminated.
Second, your corporation would not be like a Mcdonalds because people ideas and products are an extension of themselves. They want to have control over the future of the product. If you have watched American Inventor at all you can see how people talk about their product ideas. These are the kind of people you would be dealing with.
People have the choice to bring their idea to market anyway they choose. If they want control over the future of the product, I wish them best of luck and hope they can do it on their own. If they would like the organization that I`m proposing to develop it, and bring it to market on our dime, it will be on our terms, no questions asked. Will the organization be open for suggestions, it always will because it will know it doesnt have all the answers, but it will ultimately be the organization decision of what steps to take, they will be the professionals.
If someone who had an idea and all the resources to bring it to market, they wouldn`t be talking to me. They would have already been on their way, on the own. This organization will be for those who don`t have the resources and would rather see some potential compensation for their intellectual property instead of seeing it collect dust on their shelf or in their imagination. These people will have to choose control or participation.
After the organization establishes itself as the credible and profitable business I intend, these questions you bring up will be mute.
I personally would have loved the opportunity that I am going to create. But since nobody else has developed such an organization before now I feel it is my responsibility.
Someone would eventually sue you because you made a decision in regards to their product that they did not like.
These people will have signed over all rights for their participation, or as stated earlier, do have the choice to let their idea collect dust.
Third, I am glad you agree the VC would be difficult and your problem with self financing from the success of past products is it normally take at least 2 years for a general product to be a profitable product for the company.
I didn`t say it would be difficult, I stated that it would be tough. I meant to say it would be the toughest aspect of the whole program. But I have no intentions of allowing it to be difficult. I am a problem solver, I already have a solution to the problem.
The network that this organization will participate in will have the ability to create instant success, at least on a short term basis. The merrit of the product itself will determine it`s long term success.
Gook Luck, I have always like the idea and if you are really serious about getting this corp going I know several people who would probably be interested.
I believe there are millions of people (the several people you know and myself included) that would love to have the opportunity to financially benefit from their intellectual property. With such a market I am still amazed that it is still virtually untapped.
I once again appologize that I have only given you one small, very small picture of my whole program. I have attempted to give a view of the whole program before but it has the tendency to be over whelming to most people, and it is my intelectual property I still need to keep from being exposed to the elements.
Mike
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