Start a business, or sell the idea?

I have been working on a business plan for about 14 months now, and everytime I keep picking it up, I get more frustrated. I have an excellent idea to start a business. I have competition, but I have a service that could be integrated into the company to make it stand out next to the competition.

My question is this...

Do I continue to develop the business plan and try to create a business for myself?

OR

Should I approach one of my competitors that looks like they could use a helping hand and sell the idea to them?

If I go with the second option, what would be the best way to protect the idea and myself and how do I approach them with this idea? I would take stock in this small, publically traded company since I know the idea would really give them a boost and quite possibly make me more money in the long run. I would even like to work for the company, but scared that they will take my idea and say "we already had that in mind".

The reason I am hesitant about starting the business is due to lack of financing, experienced management, and the fact I have not been to college. I have been on "think tank" teams at my previous employers, and have come up with ideas that even the CEOs liked. My problem is convincing someone of that title to go with my idea.

I hope you will give me some advice to take the right path.

Happy Holidays everyone!

Michael

Their are many consultanting firms whom are represented with a sales staff which seek clients with cold calls.

Selling even the best ideas can be difficult. You have stated the best reason which is the company may have already thought of it or parts there of and therefore they may less consider the entire package to be vital in regards as to whether they compensate you. Many companies do not solicite advice or even entertain outside advice as the potential for problems can be more than it's worth. As you have stated, since you are without financing then you may not be in a position to fight about it if indeed they borrow certain parts.

Other things to consider: Businessess have plans and employees who spend lots of time developing those plans. It is difficult to come in from the outside and gain the attention of anyone in regards to your idea's who would listen. Consider how things developed when you worked within the company you were pitching too. At least their your track record could earn you the ability to enter a think tank.

As your intent here, seek a lawyers advice as to the best plan for protection and by the least, if your plans are to keep going forward with developing ideas then going forward will be a positive experience for you whether or not you have financial gain your first time out........If it's all that, then consider seeking a partner with managerial experience who can also offer financial backing..........