Quote:
Originally Posted by Bladewire
Shap what are your thoughts about requesting a signed NDA before sharing a business idea?
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It's funny because my natural reaction would be NDA and protect the idea. But times have changed and getting someone of value to agree to an nda is not going to happen.
It has taken me a while to get used to that notion. I believe now that the new reality is a world where you share ideas without any protection you have to do a few things.
1. You have to be fast. If you have an idea that you are telling people about you have to be able to start working on it before anyone can beat you to the punch.
2. You have to be better. Once you launch your competition will be all over you. You may as well take the approach that you are already competing and make sure what you are working on is better than what your competition may be up to.
3. You have to be creative in your pitch. You have to soft sell your idea to gauge interest. If their isn't interest from the investor then I wouldn't give him all the details. Hold back a few key points that make your idea better than anything else on the market.
4. There are other people working on the exact same idea at this moment. You are already competing you just don't know it. Instead of fearing that a potential investor will rip off your idea you should use them to get feedback and help you develop and direct the idea.