I am an IT engineer, I am familiar with programming and website development (not a complete expert though), I am also good with servers, OS, security and networking etc (whole 9 yards of IT). What I never did before in my life is creating a business model, putting it to work and managing that business. The positive side of me is, I have potential, intelligence with creativity, quick learner, dedication and passion. In last few years I have been working on 3 different ideas of inventions, I already invested my time on these ideas and now I have a decent map of these three ideas that can be very much successful as a business, considering that I haven't seen them anywhere else.
I want to build an authentic service as a business (mostly internet based) but only as my part time responsibility. I am not interested in sneaky/scam network marketing or internet marketing as the business itself.
My three ideas are in stock market trading, online dating/social networking and cognitive science.
My questions are:
- How can I determine what business potential these ideas have in current date? How do I model these ideas into a business? Map and calculate initial investment, size & cost of required infrastructure for a medium to large user base, investment to return ratio. And MOST importantly the income has to be passive income with no liability to anyone.
- What are the legal requirements or obligations in US for running an online service/product? Is formation of an organization necessary to receive any service/subscription fee from users?