Starting a business

[ALine]

Ok so I started a business a while back however I have not really done anything with it physically. It is based on the idea of giving scientist, engineers, and artists the space and resources they would need in order to fully develop there ideas through fluishion. Like say if someone wanted to build a flying car they could do this here. I feel as if all I am lacking are people who are willing to work from there passions and not from there desires, however I am an extreme novice when it comes to trying to find these types of people along with fully setting up a business from scratch. What advice can you guys give to assist. Thank you.

[Sensei]

There are already existing businesses in which somebody seeking for help is contacted with expert in the field. But it requires a lot of money to be invested at the beginning. There must be created platform, on-line website, with on-line chat, and obviously you must sign contract with scientists, paid per answer, paid per availability, paid per week or month. University students the last years in the field might be the most interested to be experts on such platform, as they need money for their studies. Without couple millions of dollars of investment, I don't see how such platform would be able to work.. Experts will generate cost at the beginning of operation for months or even years.

 

See for instance Stack Exchange https://stackexchange.com/

People seeking help are asking questions, and experts are answering them.

They required $12m funding. https://en.wikipedia.org/wiki/Stack_Exchange

 

Edited February 12, 2019 by Sensei

[Ten oz]

@ALine unfortunately businesses exist to make money. Helping to develop ideas is admirable but it is not a tried and true business model. If you are truly interested in doing this as a business and not philanthropy I recommend identifying how you'd make money and extrapolate on that. 

 I assume when you say provide the space and resources you mean a workshop facility stocked with tools? If so it seems your business would be to rent out such a facility? It isn't a terrible idea. From food trucks renting commercial kitchens for food prep to Airbnb sharing is a growing business segment. I recommend identifying what tools people need they might not other wise have easy access to. Obvious stuff that comes to my mind are pneumatic tools, sandblaster, laser engravers, welding stations, hazmat waste storage and disposal, and etc. 

Then you need to figure out whether you are charging by the hour, day, week, or etc. 

[Sensei]

10 minutes ago, Ten oz said:

I recommend identifying what tools people need they might not other wise have easy access to. Obvious stuff that comes to my mind are pneumatic tools, sandblaster, laser engravers, welding stations, hazmat waste storage and disposal, and etc.  

...3D printer, 3D scanner, licensed 3D applications, 2D plotter, CNC plasma cutter, CNC water-jet cutter, induction furnace, chemistry lab equipment including electron microscopes and mass spectrometer... (that's what comes to my mind the first)

Typical equipment for business incubator office skyscraper for startup-companies.

To be able to create prototype of device without having to buy or rent the all required tools.

 

Edited February 12, 2019 by Sensei

[ALine]

So like an equipment renting service. Would I need to make sure that each one of those pieces of equipment be insured?

[Ten oz]

On 2/12/2019 at 2:25 PM, ALine said:

So like an equipment renting service. Would I need to make sure that each one of those pieces of equipment be insured?

That would depend on how you set up your business. If you were renting lab/shop space to include equipment you'd probably be able to insure the business a d then would have various types of liability clauses for specific pieces of equipment. 

In my opinion it would be difficult to set up a work area with all the necessary tools for multiple disciplines. So you'd need to figure out what type of projects you'd be supporting. Looking to see what techincal schools are in the area might be a good place to start. It would give you an idea of what type of shops may already exist in your area. 

[Intoscience]

Starting a business requires investment one way or another, how much depends on the type of business and required resources. Unless you have access to significant funds already then you will require a robust business model to present to potential investors. investors may be willing to sponsor enterprises for innovation. However, the reality is investors will expect a return. 

To resource a business capable of multiple practical applications will require millions if not billions of dollars worth of investment. In reality unless you are Elon Musk or similar there is no chance. What you maybe able to do is set up a consultancy/agent type enterprise where you may be able to convince companies to collaborate on individual projects or ideas. Though each one will require a sound business model to even get off the ground. 

even then, depending on your location there will be legislation around what you can legally produce, materials you can use, testing...etc that's without all the other stuff that comes with running a business.

It can be done but, usually most new businesses start out very small and then evolve over time dependent on demand.  You get to hear about the odd Jeff Bezos's of this world. But they are the extreme rarities,  there are millions of other people trying to get started, or do start and fail early on. For most their passion is in reality only a pipe dream. 

This all said if you are really passionate enough and can confidently pull something credible together then why not give it a go!

Good luck.   

[accountpartner]

Starting a business is an exciting endeavor! Here are some general steps to help you get started:

1. Idea and Market Research:

   • Identify a business idea that aligns with your interests, skills, and market demand.
   • Conduct market research to understand your target audience, competition, and potential demand for your product or service.

2. Business Plan:

   • Develop a comprehensive business plan outlining your goals, strategies, target market, financial projections, and operational details.
   • Include a marketing plan, organizational structure, and any necessary legal considerations.

3. Financing:

   • Determine how you will fund your business. This can include personal savings, loans, investors, or crowdfunding.
   • Explore different financing options and create a budget to estimate your startup costs and ongoing expenses.