If you have seen Mint.com you’ll know that it’s a great little web site/iPhone application that allows you to keep track of all of your finances from one location. Read the story here about how it was done.
Many high powered venture capitalists said “NO!” but a higher risk super angel investor said “Yes!” because they saw the pain point of customers was greater than the obstacles to overcome.
As was reported, the upstart Mint.com actually startled Intuit and they were threatened with legal action, but was taken by most as bullying of the David and Goliath type.
If you have a good idea, pursue it!!