Long before I was an angel investor, I sat on the other side of the table as a startup founder.

I’ve personally founded four successful businesses. And let me tell you – it is seriously grueling work.

It was all worth it, though, and not just because I ended up making money.

More than anything, I’m glad I did it because each business started with an amazing idea. And what’s better than watching an amazing idea come to life?

World-changing ideas are the bedrock upon which the startup world is built. Every successful business starts with one.

But what does a great idea really look like?

You’re going to hear a lot of pitches from a lot of founders.

And every single one of them is going to tell you that their idea is revolutionary.

So how do you tell the difference between a founder with a billion-dollar idea, and one who’s just blowing smoke?

Check out the video above to learn how I do it.

Until next time,

Neil Patel


Comments

34 responses to “How to Spot a Billion-Dollar Idea”

  1. Ok just what are we talking about???
    An Idea??? Ok I have an Idea???
    I am in the process of making a portable elevator that can lift around 300lb’s up around 3 feet to let a person enter there RV trailer. It has to be portable so that it can fit into the trunk of a car and light enough to lift out and roll on wheels to the front of there RV trailer and slide into place and step on and touch a button and lift up to the top of the steps or door of the RV and step off into there home.’
    Thank you Ronald.
    I just don’t have the money to get it up and running at this time and looking for some one to help with the money it will take to do it. I am looking into some elevator’s that will do the job just fine, But need to talk to the elevator company to see if I can get the elevator’s a wholesale or parts to get my unit up and running.

    • Hey Neil,
      I’m a new founding member and am very excited about the potential possibilities that may and/or can occur or emerge.
      I appreciate the insights and Intel on this video
      Looking FWD to getting my PKG and to begin this new prosperity
      journey in my life
      Thanks
      Steve Braxton

  2. Well yes this will change people’s live’s because it will let them get into there home easyer. there are elevator companies out there and yes I will probably use one of the already produced elevators but it will not be the same elevator i start with and no I don’t think there is any one else doing it out there at least not yet. it’s and expensive idea to build and buy, So not every one will try it. I have the idea to make it and produce it and sell it.
    Thank you Ronald.

  3. Mr. Patel,

    I believe I have the next multi trillion dollars idea. Is this going to be the right summit to speak about it? Also due to the patents I feel would be necessary I wouldn’t be able to fully explain my idea without a mutual confidentiality agreement in place. If this is the wrong type of form for the guidance I seek my apologies in advance, any help or feed back is appreciated.

  4. Thank you, Neil for always inspiring me and giving me the confidence that I can do this….Investing 101 has brought so many questionable things to life and I finally have a plan to execute and to start to live my life by making smart choices in my selections.

  5. Hi Neil,
    Good greetings and salutations,
    My name is R.Greg Lanman.
    I recently signed on as a founding member and I am
    sincerely interested in investing some seed capital in the future.
    As of this moment I have a wonderful idea which would solve
    a gargantuan problem and I am hoping you will become as enthused
    as I am about the cure.
    My solution revolves around a giant problem in regard to existing prescription bottles or over the counter bottles or containers.
    I have developed a small alteration to the manufacturing process
    of the aforementioned bottles which would prevent patients from
    missing their next dose or taking a double dose in error.
    This has become a tremendous issue with the current market
    as young and old alike either forget when they took their last dose
    or overdose because they did not make note of their personal
    dosing schedule.
    This solution can and will save lives and prevent patients
    from making errors in taking all their medications in the way they are
    prescribed.
    Furthermore, it will give the drug store chains another way to
    “protect their patients” in a way that is a low tech solution
    to this very legitimate ongoing concern.
    Neil, let me ask you this. How many containers of prescription and
    non prescription medicines are put into the hands of patients across
    the world in one year, five years and so on. This market is never
    ending and the pile of bottles keeps getting higher and higher.
    Imagine for now the ability for you and I to make a penny each or more per bottle in perpetuity. and help the world to take their medicines
    in the correct way therefore preventing medical accidents.
    I suggest we get together some way to discuss this as I believe
    we may be able to really make a positive impact on the planet’s
    population by preventing possible overdoses or missed doses or medical errors made by unsupervised or supervised patients.
    My e-mail is greglanman@yahoo.com.
    My phone is 1-248-960-8773
    In closing, please lend me your ear on this matter as I know
    we could make a world of difference in bringing this idea to fruition.
    I am so inspired right now and I hope you are as well.
    Yours in great prosperity ,
    R. Greg Lanman

    • Hello my name is Michelle I have recently joined the Angels entrepreneur investors,
      That being said I wanted to comment on the medical issues of medication,
      about 2 years ago I was introduced to a online drug store called pillpack
      pill pack has work for me because I will forget my medications but the way it comes to me once a month labeled 15 days and then another 15 days to the date,
      it comes in blister packs it has my name on it in the beginning it has every day and has a time of day I take my medications and it has my bedtime medications and it’s separate blister also
      so this sounds like what you’re talkin about which I see is already in the making with what it’s called pill pack I don’t know if it’s the same thing you’re talkin about but it seems as though it is
      I just wanted to give you a head up on what I’m experiencing as far as my medications go if I miss a day or time I’ll know because it’s already labeled on the blister pack and my medications are already separated.
      Thank you for your precious time, and I hope this was helpful.

  6. This is a great idea, will help a lot of people, young and old alike in abetter and more accurate management of their medications and supplements as well. I have a once a week medication that I sometimes forget. I earmark it for every saturday but still miss it at few times. Keep me posted on how this work. I do encourage you to pursue this life changing solution.
    I do wish you succeed!! TRC

  7. I keep seeing hypes for new tech ideas. One is the satellite delivery of TV programs and streaming from space to make it cheap enough for everyone to do it.

    The next is all the invites to invest in a chip that is to revolutionize the whole world of technology controls.

    I am thinking a lot of stuff is out there but just not available.

    • HELLO, MY NAME IS ROBERT, I ALSO AM TRYING TO RESEARCH THESE
      IDEAS. LET ME KNOW IF YOU HERE SOMETHING ON THESE. NEIL IS PRETTY SHARP. HE IS PROBABLE ON TOP OF IT. MAY NOT PASS HIS FORMULA. BUT I AM WAITING.

  8. Hi Gregg. As a nurse I think the medication idea is a great one. I would very much like to know what Neil thinks about it.
    IT

  9. Hi Greg,
    It’s a great idea that would prevent patients from
    missing their next dose or taking a double dose in error.
    I would very much like to know what Neil and his team think about it.
    Also, all network team members might have some input that can make this idea or future ones even more more revolutionary.
    I wish you much success with your idea!

  10. Greg, I like your prescription drug dispenser idea. I hope Neil gets in on it and we all get to invest to help you bring it to fruition.

  11. Hello Neil my name is Patrick carangelo ,the inventor and patent holder,100% internationally also of the windshield wiperdiaper , the wiperglove, concept on YouTube, it’s a first all-in-one adapter free complete all-weather wiper blade that simply snugs over your old wiper blades completely covering and locks in place without ever having to take your old worn wiper blades off or remove ,the wiperglove is a first-of-its-kind all-in-one 100% recyclable material that will give 100% of all drivers male female truck bus boat plane train cars cabs limos the opportunity to drive safe without being in a panic or ever needing a mechanic when it comes to having a new one-year wiper blade on your car, this is a first and much-needed problem solving concept that is complete game-changer because you will not go back to the old way when you need a new wiper blades, please take a look ,I have a major Engineering University backing my patented invention Lehigh University of Allentown I am looking for a strategic partner to help me make this the billion-dollar company that is long overdue for all drivers, military also that needs a slip on simple wiper blade that locks in place without ever being on a search-and-rescue of a new wiper blades with the wiperglove you only need to know the length, you slide it on and it locks in place my number is 570-350-9451 and it would be greatly appreciated to hear from you thank you

  12. The comments I’ve read are all unique, I found the video information to be seriously important and informational. Thank you, Neil, for sharing this it makes a lot of sense. I have several invention ideas myself, but I do not believe here is the place to ask questions and express thoughts of moving forward with them, please advise.

  13. I also like the drug dispenser idea. I would like more information on this. Please keep me updated on this.Look forward to hearing from you.

  14. Hi Greg,
    I am very interested in learning more about your idea. Please keep me posted on updates. I would also like to know Neils thoughts.

    Dianne Hassman

  15. Hey Neil, thank you for this great information. I am a member of Angels & Entrepreneurs Network to become an investor. But what if I have more than one great product ideas? Where do I even start without getting my ideas stolen? What should I do?

    Thanks!

  16. Patrick , I think your idea is viable has wipers
    And wiper changing is an onerous task even for the guys at pep boys during my last visit. They too struggled with what was suppose to be a 5 minute job. Tell me has Neil looked at this?

  17. Greg, I like your prescription idea case and dosage idea as I often have been remiss in taking my doses or mistakenly taken more. An as for the bottles I have a few empties I use creatively to hold bolts etc. But how many of these does anyone need. Keep me posted on this potential game changer, as plastic is at epidemic levels in the ocean.

  18. Neal, the reason I signed up for this company entrepreneurship is because I was assuming this video had already been screened all these first 4 steps.
    I do understand if you don’t love it don’t invest in. I thought those first four steps were mastered.

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