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4 comments
Don't count on that. Unless you have an algorithmic-based product your idea can't be "secured". This business plan protects you only from the copy of the exact same product, so, if someone alter this a little, you can't do anything. What is the best thing to do? Start it! By the time you have mockups, go out and test them, take feedback from potential target group, keep metrics of your protype. You don't necessarily need developer or designer to do this, take your validation. After that you can go to talks with funds in a much better position. Build-Measure-Learn. Hope this helps. :)
Find a technical co-founder as soon as possible.
This question is asked so routinely here. Apostolee said it, but just so you can know that it is really true....you can't keep an idea safe, unless it's algorithmic-based (in which case you would already know that).
Sadly, something that you should think about is that most of the time there are multiple groups working on the same idea. Your great hacker competitor could be working on it this weekend.
Time is really critical and getting a co-founder should be where your energy is spent.
This question is asked so routinely here. Apostolee said it, but just so you can know that it is really true....you can't keep an idea safe, unless it's algorithmic-based (in which case you would already know that).
Sadly, something that you should think about is that most of the time there are multiple groups working on the same idea. Your great hacker competitor could be working on it this weekend.
Time is really critical and getting a co-founder should be where your energy is spent.
I think nowaday is not the idea one should "protect". These days everybody has many ideas. The real value today is to succesfully develop the idea into a product or service which delivers value.
So just start working on it, show it to other people, try to find somebody who works on it with you (a developer), and collect some feedback.
Don't be affraid! If it is really a good idea, it's surely gonna be copied by others. :)
So just start working on it, show it to other people, try to find somebody who works on it with you (a developer), and collect some feedback.
Don't be affraid! If it is really a good idea, it's surely gonna be copied by others. :)
My understanding is that most angels and VCs will refuse to sign non-disclosure agreements or non-competes; not because they wish to steal your idea, but because they do not want to get legally entangled.
Imagine VC firm turning down an entrepreneur for idea "A" because the market didn't seem quite ready and they didn't have a strong team of founders. Now 9 months later another entrepreneur approaches the VC firm with idea "B" which overlaps with "A" about 80%. The market is changing in a positive direction, the 20% difference seems to solve certain problems and by the way the founding team is much stronger. If the VC firm wants to be able to fund the best team regardless of whether this was the first or the fifth time they have heard roughly the same idea.
Instead of capital, you may try to seek a technical co-founder. But that is not as easy as you might think either.