Dear John

Dear John,

I have been working on an idea I had for a website application. My end goal is to sell the idea to an established company in the industry, either in its current form or after I've developed the idea as a complete website. At this point, I have determined the features I want for the application, outlined a business model, and created some rough wire frames.

The questions are: Should I first try to sell the idea to an established company? or Should I first have a team design and develop the site and manage it as a personal business?

Thank you in advance for your feedback!

Sincerely,
Janet

Dear Janet,

I find it unlikely any company would buy (or at least pay much) for an idea. Ideas are free. A more customary approach would be to find investors for the business plan (which is itself very very difficult) and then sell to a company. Don't worry too much of technical integration at this point as code can be re-written and you don't even know what hypothetical technical architecture of a hypothetical acquirer looks like.

Best,
John