Rate These Ideas

[YoungChris]

My first idea was to create GPS-tracking golf balls. People are losing golf balls all the time and it would save money if you could find your golf ball and save time. I was unsure if this was possible but came across RadarGolf.com, who I never heard of or seen before and they are doing it. With them you must purchase a $299 hardware/software item to be able to track your golf balls. I was thinking it could be an iPhone app. Once again this is a mere idea--not sure if it is worthy.

My second idea was to create a online site where you can sell or trade gift cards. Later I realized this exists already.

My third idea was to create a website that lists every online ordering restaurant in each city where you can order from.

and my fourth idea which is somewhat unethical?...is to melt pennies! The copper value in pennies is worth more than $0.01 the issues is it is currency so no where would melt it unless you probably went to Mexico but to drive with a truckload of pennies they would probably be suspicious. It is an interesting concept though that a coin that no one really uses for value whatsoever and has little purchasing power is still in production.

[akula]

chris, my feedback to you is this:
your process for opportunity selection may be backward
standard advice is for founders to identify problems before they formulate solutions
...textbook theory is that it's ill-advised for founders to get into the habit of thinking up wacky ideas
it may be better to settle on an investment thesis and and have a number of screens for the kind of opportunities that appeal to you
use public information to list the top 20 interesting firms in your space, and look for opportunities that capitalise on the same trends

[KyleXY]

My first idea was to create GPS-tracking golf balls. People are losing golf balls all the time and it would save money if you could find your golf ball and save time. I was unsure if this was possible but came across RadarGolf.com, who I never heard of or seen before and they are doing it. With them you must purchase a $299 hardware/software item to be able to track your golf balls. I was thinking it could be an iPhone app. Once again this is a mere idea--not sure if it is worthy.

My second idea was to create a online site where you can sell or trade gift cards. Later I realized this exists already.

My third idea was to create a website that lists every online ordering restaurant in each city where you can order from.

and my fourth idea which is somewhat unethical?...is to melt pennies! The copper value in pennies is worth more than $0.01 the issues is it is currency so no where would melt it unless you probably went to Mexico but to drive with a truckload of pennies they would probably be suspicious. It is an interesting concept though that a coin that no one really uses for value whatsoever and has little purchasing power is still in production.

I agree with Akula about finding a problem to solve but we'll go ahead and answer the four ideas you have.

1. I'm not an avid golfer so take this advice with a grain of salt but to track golf ball would mean these golf ball must have some chip in them. Depending on how much it would cost to build and your knowledge of hardware, it could be expensive to get a prototype out. However I don't know if there is a big enough market for this. There are lots of golfers but the number of people who care enough to buy a set is probably not worthwhile enough. I know if it was me, I would prefer to just dispose of them but then again, I'm not an avid golfer.

2. This idea does already exist and unless there was some competitive advantage or you think you can compete by taking over market share, it might not be worth while. This of course is up to you. I prefer to work on things I'm passionate about but that's just me.

3. There are several businesses that have tried this and failed to gain critical adoption. Unfortunately there are many hurdles to overcome but if you can get this right, it might be worth it. And I do mean many. I have explored this area myself previously but found it not worthwhile.

4. This is illegal. You can't destroy US currency by law from my understanding.

[rogercbryan]

I think 3 has the best opportunity. I say this because I'm working with my client Home MGM Roast Beef right now to get their online ordering back up and running. I launched for them about a year ago and they were getting a few orders here and there but they didn't keep up with menu changes and they didn't plan their delivery routes correctly (they had a terrible manager the first few months). Now the owners have taken over day to day management so they are ramping up their online presence. If someone came to me with a local site and told me they were going to charge $1.00 for every order they brought the restaurant I would buy. This is of course if you can deliver (the orders that is)...

If you can develop a local site.. find a few restaurants and then market the hell out of the site... maybe you could make a few bucks. I would suggest adding a coupon system to this site. This way if you don't catch their need for food instantly you can still tie them back to a possible future purchase.