Yeah you are probably right. I am unstable and can barely keep things together. However since my concept and invention are amazing (and I have nothing else to do atm) I figure I should go for it.

I'm not a corp finance guy at all, so I cant help. My advice if u have the budget is spend a couple of bucks and start talking to a consultant or two.

Yeah that seems like a decent idea, but it might be better to have someone on the board that can handle it long term. (Esp since I would like to focus on products and efficient services)

1. Hire someone to run your business.

2. If you can't afford someone, offer equity and deferred salary instead.

3. If you can't find anyone qualified who is willing to accept equity and deferred salary based on your idea/business, then your idea/business isn't as good as you think it is.

Ok so where do I find someone?

Also my business is outstanding. It only lacks money. (Which I prefer not to need to think about/ deal with). I would love to have someone take control of that aspect

seems ure more like the creative type and as you said dont want to deal with all the money / finance matters. in that case yeah finding someone tu run all of that sounds cool... basically hiring a GM or something sounds like a plan. How to find one... i'd use a headhunter that is SPECIALISED in your industry (healthcare it solutions or something). no way would i go with a generic hunter. the guy that is specialised will be faster, more efficient, will already have a network and will find potential "hiden" candidates not currently looking for new opportunities.

I have no idea of your budget, but in an ideal world where money isnt an issue i would get a senior dude with tons of experience specifically in your industry and what you are doing etc... so u can sit back and just focus on product development etc

i think acesup is spot on btw.

man i would love to be a creative type, come up with a great idea and have someone do all the business execution... lol... living the dream imo

good luck, hope your idea rocks

The budget seems unlimited to be honest. It only seems like a long wait to receive actual money. I need someone to put it in a pretty little bow, so it goes through.

If I choose #2, what is a fair equity percentage?

.

+products

Well so I just got an email from the CEO of a major healthcare data company in the US. He got my email from a Dr. He asked about possible collaboration and requested a meeting in the next couple weeks to discuss. I replied with more info and asked him to select a time.

My 2cents: If money is no issue get an international business lawyer specialised in pharma/healthcare (ideally a us lawyer)... spend 5ktalking to him ask all questions possible on licenses, joint ventures or whztever applies to ure bizmodel.

Start surrounding urself with pros.

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Here is an update. Great advice Marc and I have begun to surround myself with pros and now have a team of 14.

We have itemized our priority for products and will have a working prototype by September 30th. We are developing 6 phone applications and numerous products and are now 40% complete with our first product which is a wearable.

Also the previous advice regarding starting in 1 city was received but we are being considered for a program in Hawaii so if that comes through we will accept.

I cannot answer your question relating to marketing, as I would need tons of informations. Regarding management, it is usually:

a) One product = centralised - functional

b) Related diversification = decentralised + divisional

So I did a google search of my company name and found out that a major corporation started using part of my 1st idea and name on a product line I came up with for my thesis (I had worked with sourcers in China to see if they could OEM it in May) The name showed up on google just last week for the 1st time. Luckily I have the domain name registered and email trail. I have retained a top IP lawyer.

The coders are diligently working on the phone app to have it ready for investors in October. And the layout looks promising. The office is now up to 12 people.

As long as you have no patent(s) on your product(s) or registered your trademark(s), there is a considerable risk, that others will simply copy your idea(s).

Also, if you will not get a patent(s), you can expect that others will follow the "me too" strategy, if your product idea(s) appears profitable.

So update time: We have a prototype ready for 1 product and made an agreement with a distributor from Sweden for the products to be marketed in developing countries. It has been said that they are more for the Western world but I am setting up the supply chain to be as cost effective as possible.

We will have the 2nd prototype ready by November 1st with 4 products ready to distribute. I hired a 21 year old MA for part time non paid and 3 more coders.

Over the summer I applied for a program with Bayer in Germany and it seems rather than bring me aboard they farmed my concept out to 3 bayer employees or relatives. I am hoping to have a lawyer soon.

I am now working with one of the Big 6 accounting firms and they are making a better BP and introducing me to their contacts for rapid global expansion. I also had dinner with a major healthcare VC a few nights ago and that went well. I am planning a follow up.

Myself and my company are being featured next week for 2 articles, one by the biggest pr firm in the world and one by the European-USA startup society.

Still no money and next week is going to be crucial.

I also opened a LLC in the USA.

Keep at it.

Who's financing these employees now? Out of your pocket?

They are all unpaid. Some are interns and some are doing volunteer development programs. We are working towards getting them 700€/month from govt but its socialism here and most get 650€/month anyway. The interns get 300€/month from the schools they go to.

Make sure you link these articles. I am sure I am not the only one here who would like to see these

Ok I just did a google search and both ran last week.

http://gereports.eu/post/97890224189...-hospital-home

http://www.eurocircle.com/euro/jess-...us-in-finland/

Good luck dude, looking good.

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Unpaid interns.... nice.

Not sure where you live but that's pretty illegal in most countries as you sound like they are building your product, and in return they get... zilch. Zilch is bad, when you should be offering them training/qualifications in return. Correct me if I'm wrong, but that sounds pretty accurate to me. You do not have a business if you are relying on unpaid labour to keep it going. If you do start making money there's some potential future legal liabilities there (and rightly so imo).

Secondly, you get what you pay for generally. If they are working for free, reality is they are probably not good enough to work in industry yet.

Also, if the product idea comes from your thesis this can be a risk as some Universities (all in UK do this AFAIK) will lay claim to a large % of anything developed during your time there. This could affect any patent claim you attempt to make as well.

These global expansion plans sound a little like running before you can walk as others have pointed out.

Edit: Just seen your products. Hope you know exactly what you're doing because home diagnosis opens you up to some potential major lawsuits. The fact you want to global is worrying in this regard as well.

Yeah they are getting training in return. The first person I brought on has a law degree. The statement about universities is pretty shocking to me but my thesis was on supply chain for bundled products, so it should not be a problem. Our product launch starts in Bangladesh due to connections and lack of regulations. I now have connects and will outsource the regulations for the Western world and we are planning for a March release.

And yes I would prefer to be able to pay for labor and they are definitely getting more than they are giving. I have already outsourced the 2nd and main app.

Anyone is able to work in the industry with proper management and on Monday, 2 other companies and I will discuss starting a syndicate company for wearables.