Monday, February 25, 2013

On funding and founding...how does one move from "idea machine" to in-business?

I have a very severe problem--my last name.  My first name doesn't help much for that matter.  There are a million David Smith's.  There's even a guy in Britain with the same middle name--same spelling--who is an artist and a sculpter.  He even reserved the domain name.

But where my name is common, I bring a very impressive ability to develop new business strategies.  Electric utilities.  Water utilities.  Freeway transportation policy.  Real estate development.  Media and entertainment.  Diverse industries, all.

The problem is that I was born to a Smith, not a Gates, Perot or Buffett.  Heck, I know guys over ten years my junior who were born to families whose fathers founded a company and sold it for millions who now manage the family's real estate investments.  In their twenties!

I was born in the wrong zip code.  Maybe I was switched at birth?

So where I bring a pronounced talent to the table, I lack the backing to "do" my own deals.  Hundreds of people out there like me, right?  Bill Gates among them.

My problem then becomes more pronounced and more specific--I have a terrible record of securing capital and launching my own deals.

But at least I know what the problem is.  And as was the case with my freeway congestion relief plan, when you identify the true problem it is much easier to attack it by developing a solution to the problem.  And solutions are what I specialize in.

But I think that I am too married to my ideas to be effective at this stage at securing funding for my projects.  Which is where the blogosphere and LinkedIn come into play.  I need some suggestions.  Advice.  Sage counsel from those who have been there, done that and gotten the t-shirts from all over the globe where the wealth their participation has generated, allowing trips to all the places the t-shrits came from.

Phase one, I suspect, is the business plan.  No problem.  I'm good at that.  But within that will be the management team.  I have simply been more junior (i.e. young and inexperienced!) than most qualified managers would be interested in partnering up with.  But I have a record now!  One of my proposals has literally seen six other companies either copy in whole or in part or at the very least launch based on the same ideas.

Phase two will probably be the capital.  I have long heard that the capital follows the management team.  Everyone has ideas.  Ideas, as I have proven, are a dime a dozen.  And the biggest reason I have never proceeded to phase two is that I have not yet completed phase one's requirement for a management team.

That should probably provide some pretty good opportunity for comments.  Anything is fair game.  But please recognize that I'm talking about significant IP, so if questions get too in-depth I may elect to take it to email or phone calls.  Thank you for respecting this from the outset.

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