Questions

If you have an idea for an awesome product, but it is really easy to copy. Would you seek help from someone experienced? What if they steal the idea?

8answers

The "idea" is the really the least important ingredient in building a successful product business. Building the product and then gaining adoption and then turning that adoption into a viable business are all where the rubber meets the road.

These pieces are so difficult that you're best finding the most qualified, experienced people who share your enthusiasm for this idea. What's most important is that you're clear in what you yourself bring to the table besides just the idea.

Happy to talk to you in a call about how to recruit a team and further validate your idea.


Answered 7 years ago

Many times I have been asked to sign a NDA. I never sign that kind of agreements, not because I want to stole ideas, but because agreements were too general and I could potentially lock my self out of doing related projects. That said, don't be that person who throws NDAs in front of people.

Idea is the 1% of the whole business. If it ends up a successful money making product you will get the competition soon anyway. Whatever you are doing, you have to be a couple of months ahead of them.

The other point is that people are too lazy or too busy to start a new venture anyway. If you seek advices from entrepreneurs chances are they are already busy building their startups.

Also, being first does not make you better by default. If you take a look at examples of today successful companies you would be surprised how their current business model differs form their initial idea.

Best of luck!


Answered 7 years ago

If you want to prevent someone from stealing your idea you need to have them sign a Non Disclosure Agreement (NDA). I insist on NDA's when I talk about products with development companies. These organizations usually transform into product companies after starting out as development companies. The last thing I want is for that idea they execute upon to have been one I'm in discussions with them about.

On the other hand, if it's just a friendly chat with an advisor I'm much less focused on the NDA. It takes a lot to build a company and NDA's aren't everything.

If you want to stop someone from stealing your idea just do nothing, take no risks, and find a cubicle at a large company to hide in. If you want to do something big you always have to put your ideas out there for others to steal/imitate.


Answered 7 years ago

Great question.

I agree with a couple of the other experts comments, the idea is the least of your worries. Most people are too busy to want to copy someone else's ideas. I would advise speaking to someone else who runs a non-competitng business for advise. (I'm happy to help.)

You may have heard friends say "I thought of that idea 10 years ago" about a business which they seen on the news which is the next big thing. However it's not the idea which makes you the money, it's the execution and dedication to making it the best product or service possible. No one else can copy your passion or originality.

My advice... Go for it!


Answered 7 years ago

Coming from a founder that spent too long worrying about the same issues, listen to Tom Williams! He's spot on, it's all about execution. Know your numbers, know your product and know how you're going to execute.

If it's an amazing idea that raises money, or begins to monetize without Angle/VC, you'll still have a difficult road ahead, just in terms of recruiting top talent.

Even though it's digital, it's a business right? So trust me brotha, get to work! And I mean that in the kindest and sincerest possible way. Start connecting, asking, sharing, going to meetups, whatever you have to do. Just put it all out there and you'll find that incredibly great and talented people will avail themselves to help you throughout this journey. Plan, Pivot & Bust Your Ass!

If you need straight answers from someone that's been in your shoes and didn't buy the idea that "people are too busy to steal your idea," I'm sure I can give you the information and maybe even the confidence to make your idea a reality. I shoot straight without a filter, but at the end of the call you'll know exactly where you're headed...

Back to work!

-Gregg


Answered 7 years ago

I strongly disagree with some of the advice you have gotten here. Some have said that the idea is not important and that execution is far more important, so don't bother with an NDA. I agree with the former part of that but strongly disagree with the conclusion. If you're approaching a subject matter expert in the field about your idea, they are far more likely to run on their own with this, than someone in the general public. I've actually seen it happen many times, and when it does the entrepreneur has absolutely no recourse. So my advice to you, would be to get the subject matter expert to sign an NDA. And if they won't as they want to leave their options open, then find another expert.


Answered 7 years ago

There is nothing that you can do except be first, stick in the minds of consumers, and offer outstanding service. Read Al Ries and Jack Trout's book on Positioning.
Don't stop taking massive action.
Best of Luck,
Michael T. Irvin
michaelirvin.net
My books are available exclusively through Amazon Books. Check out my book "Copywriting Blackbook of Secrets"
Copywriting, Startups, Internet Entrepreneur, Online Marketing, Making Money


Answered 7 years ago

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