Posted on September 9, 2008 - by Jeffrey Posner

Let me guess…You Have a Great Idea and No Business Model!

What is going on these days with all these presentations at the Tech Crunch 50 having nothing more to offer than a good idea? When the judges ask the presenters on how they will make money, this seems to be the general consensus.

Well, it’s complicated

Are you kidding me? When did it ever become the standard to figure out how you are going to make money after you have a product? How does anyone in their right mind put their life, time, family and money into a business when they don’t have a clue how it will ever generate a dollar?

Necessity is the mother of all invention

This statement says it all. If no one needs your product or at least feels like they need it…then you don’t have a product! If you don’t have a few different strategies on how to make money from day one, go back to work or go back to your old job!