My husband had an idea the other night that came to him in a dream -- an idea for a business, and I really believe this is a "multi-million-dollar idea". It has the potential to be hugely successful because it's something that's very much needed, and it has the potential for major expansion as well (locations in other states). I don't want to say what it is because anyone could read this and steal the idea, so I will just say it has to do with truck driving. He is a truck driver himself, so he knows this is something that's sorely needed. I've been thinking about this non-stop since he told me about it -- the problem is, we have no idea where to begin. How does a working-class, sometimes-living-paycheck-to-paycheck, no-money-to-start-such-a-business couple get the money to actually start such a business? I can't find much online about grants or loans, at least nothing I don't have to pay for in order to get the information. Obviously it can be and has been done. Obviously not everyone who starts a business has tons of money to begin with, yet there are millions of people who manage to create successful businesses starting with practically nothing. But how do they do it?? Any suggestions would be greatly appreciated!

By Rayanne on Tuesday, May 31, 2005 - 11:06 am:

Well, I really don't have any knowledge of what to do either, but want to wish you luck.

Is this something that should be patented first before someone else hears about it and takes the idea?

By Mommmie on Tuesday, May 31, 2005 - 11:20 am:

What about an SBA loan?

By Anonymous on Tuesday, May 31, 2005 - 11:23 am:

No, it's a service, not a product. It's not something that can be patented. Thanks for the good wishes!

SBA loan, huh? Thanks, I'll look into that.

By Anonymous on Tuesday, May 31, 2005 - 11:36 am:

Oops, I forgot to mention this, and I'm not sure, but it will probably make a difference! I don't know exactly what defines a "small business" -- this would be a small business in the sense that it's just the two of us starting it, but it would take a major amount of money to build it and get it going. It'll require a huge building and major equipment. Just FYI.

By Crystal915 on Tuesday, May 31, 2005 - 11:46 am:

I believe small business goes more by the manpower, under a certain amount of employees. I'm sure someone here can give you more, we have a couple business owner moms, maybe they can help. Either way, GOOD LUCK!!

By Truestori on Tuesday, May 31, 2005 - 01:14 pm:

I do know that there are more grants and help out there for women who open their own buisnesses. Maybe it could be opened under your name? Just a thought.. Goodluck

By Jann on Tuesday, May 31, 2005 - 02:25 pm:

Write up a business plan detailing exactly what the service is, how you would market it, to whom, how much it would cost to market it. You could then take that plan to a bank to apply for a loan.

By Ginny~moderator on Tuesday, May 31, 2005 - 04:28 pm:

Maybe it could be copyrighted?

By Kym on Wednesday, June 1, 2005 - 12:13 pm:

Gov't grants are for companies that can contract through the gov't women owned or not, they are not flowing wells of money like is advertised. The SBA does offer loans but they come with many many fees and costs.
First step: Contact your local Small business development center (usually on local college campuses, funded by the SBA), they can take you through all the steps, business plan, demographics, design, logo etc, depending on the quality of the folks running it you will use some or all of their information.
Join the Chamber of Commerce, they are a wealth of information and networking if you need that.
Do a trademark search and patent search if appropriate
My financial reccomendations are:
1. Get a loan from a local bank, where underwriting and decisions are made in house, not a national branch somewhere, you'll be best to talk to the decision maker face to face.
2. Find someone in the industry that would have a vested interest in funding the project, much like a silent partner.

Depending on the type of business/venture it is, there is probablly an association or group devoted to this type of industry, that what I would search for, a mentor when starting a business or developing a brand is key, be cautious but there are truly many people who are sucssful that are willing to help others get started.

Gook Luck, I know your excitement, my husband and I are both business owners, who started from scratch, there is nothing like it
(sorry for the typos my keyboard is being sticky)

By Anonymous on Thursday, June 2, 2005 - 02:00 am:

Thanks for all the suggestions, everyone!

Kym, we do have a small business development program at a nearby college campus -- I remember my dad talking about it just six months ago or so. Thanks for reminding me about that. I haven't talked to him about this idea yet but I bet that's where he'll suggest we go, too.

The local vs. national bank thing makes a lot of sense. And we do have someone who might be very interested in a partner type deal -- dh's boss. He's got the business experience we don't have (owns the trucking company) and he's honest, trustworthy and reliable, which is extremely important.