Financing New Ideas

[rafhelp]

you have a cool new idea for a product. You can see it in action and are confident it would be a great selling product.

You look around at different companies, but realise theres no way you could afford to develop a prototype let alone search and file for patents, if appropriate.

You cant take a loan as youre already in debt.

What would you do?

Forget the idea, maybe at some stage in the future maybe you could afford it and hope no one else comes up with the same idea. Would you desperately try to borrow money, knowing that there is a chance that it could all flop and then you will be left in bigger debts that your already in?

[Uselesspoop]

If i had a superb idea which is extremely unique and never been thought of before ( which is highly unlikely seeing there are 7 billion people on earth ), i would take a loan even if i am in debt if i am confident if the product will sell well

Or you can look for people who are willing to invest in your idea i guess.

[Creditguard]

The person having debt on it and they are trying to start any other business which needs lot of investment. According to me it’s totally taking risk nothing more. If you like to start any type of business then first clear your debt, many companies help lot of services like how to manage debt provide financial educational help and so on.
If the idea is fail which is based on debt, it make you scared and under more debt.