We all have them I suppose, for me its a bit more common as take the concept from idea to working prototype solo. This one I will share with you, maybe i am full of crap yet again but here go’s. I was looking at the sucess of the roomba, and how the home service robot is getting a lot of action in japan and decided to look at the US market for the next thing there. I decided with contuined expansion of sub urbia and our desire not to do dirty, boring or discuting jobs that what might be a good seller would be a robot that did 3 things.
1 mow the yard (yes there are out there but remember this bot does all 3 jobs)
2. removes the snow from your walkways and driveways (now who really likes to shovel snow, and with a graying population its heart attach central)
3 picks up dog crap (a high % of people with large yards have dogs, and who likes to go “scoop the poop”?)
Well anyway I went ahead and developed the tech to do these 3 things in a package that should retail for about the price of a mid sized snow blower, shopped it around to some angel capital markets and guess what…crickets! Yes boys and girls the angel cap market is like playing the lotto or dating, timing timing. I have put this little beast on hold, but thought you would enjoy hearing about it. So you all got any kool ones that are sitting on the shelf waiting for a better time?
I’m almost done writing my business plan for a new company. I’m hoping this is where getting an MBA is finally going to pay off. I should know in the next couple months if this thing is going to have legs or not.
I’m looking for VC money both here and in China, where there are lots of deep pockets these days.
Be very careful in china your IP protection is very very limited. Writing a BP is a hell of a lot of work, I know having written 6 of the damn things. A few words of advice, smart investors bet on jocky’s not horses, what that means is your managmanet skills are more important than your product or service. In your BP you need to cover every base, not in just some trivial manner, but in depth. The final thing is each group will have its own view, some high risk, some low all have hot buttons and don’t be surprized to have to re tool your BP for each type. Your MBA gives you a good leg up, but wishing you good luck cant hurt.