Share or not share an idea: investor view
Brad Burnham (Brad Burnham) from Union Square Ventures wrote a provocative post about the risks and benefits for those entrepreneurs who decide to be open about the ideas of their start-ups. He pushes that only by sharing his idea, an entrepreneur can get much more than he opens. An iterative process of constantly discussing your idea with people with different points of view only helps the idea to become better.
We often see this in Angelsoft’s relationship with business users. Sometimes, they reluctantly share information through our network, or even reluctantly talk about their idea when they meet. And the bottom line is that without sharing an idea, you will not get far. And the distribution of information seems to increase your chances of success.
The reasons for which you need to open, quite weighty. And the benefits outweigh the risks:
1. Investors usually bet on the entrepreneur, not on the idea.
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Both venture capitalists and business angels often focus on the question of which entrepreneur they finance, and not necessarily on the idea. More and more, you will hear from investors that they are better at investing in a good entrepreneur with a bad idea than in a bad entrepreneur with a good idea. A good start-up will be successful, regardless of the difficulties, and regardless of the number of people who want to steal his idea!
2. Ideas are much simpler than their implementation.
Everyone can have an idea. But its implementation requires perseverance, dedication, willingness to plow and brutal optimism in order to start a company and succeed. There are not so many people who can compete with you and they are scattered around the world. Therefore, if you are the entrepreneur who should be an investor, then have the courage and do not waste time thinking about those who can steal your idea. It is possible that many people already had the same idea, but they did not have enough experience and skills to decide and implement it.
Mark LaRosa (Mark LaRosa), head of sales for Angelsoft and a former entrepreneur, says: “As a start-up, I realized that I am the only person who can complete work on my idea. And that if I would not share the idea, then I would not be so sure of my ability to get funding for that very idea. ”
3. Your speech (pitch) will be much better.
Every time you talk about your idea to another, you practice speaking. And you get feedback from a person with a slightly different look. Practice makes you perfect. Do this several times and your speech will be rough. Do it a thousand times and you will definitely notice the improvements!
4. Prove that you are constantly exploring your own market.
Proving investors that you understand the market and that you can quickly respond to new information makes you a much more attractive investment object. Investors want trained entrepreneurs who are willing to accept feedback from experienced advisors, and use this information to build a better company.
We often see this in Angelsoft’s relationship with business users. Sometimes, they reluctantly share information through our network, or even reluctantly talk about their idea when they meet. And the bottom line is that without sharing an idea, you will not get far. And the distribution of information seems to increase your chances of success.
The reasons for which you need to open, quite weighty. And the benefits outweigh the risks:
1. Investors usually bet on the entrepreneur, not on the idea.
')
Both venture capitalists and business angels often focus on the question of which entrepreneur they finance, and not necessarily on the idea. More and more, you will hear from investors that they are better at investing in a good entrepreneur with a bad idea than in a bad entrepreneur with a good idea. A good start-up will be successful, regardless of the difficulties, and regardless of the number of people who want to steal his idea!
2. Ideas are much simpler than their implementation.
Everyone can have an idea. But its implementation requires perseverance, dedication, willingness to plow and brutal optimism in order to start a company and succeed. There are not so many people who can compete with you and they are scattered around the world. Therefore, if you are the entrepreneur who should be an investor, then have the courage and do not waste time thinking about those who can steal your idea. It is possible that many people already had the same idea, but they did not have enough experience and skills to decide and implement it.
Mark LaRosa (Mark LaRosa), head of sales for Angelsoft and a former entrepreneur, says: “As a start-up, I realized that I am the only person who can complete work on my idea. And that if I would not share the idea, then I would not be so sure of my ability to get funding for that very idea. ”
3. Your speech (pitch) will be much better.
Every time you talk about your idea to another, you practice speaking. And you get feedback from a person with a slightly different look. Practice makes you perfect. Do this several times and your speech will be rough. Do it a thousand times and you will definitely notice the improvements!
4. Prove that you are constantly exploring your own market.
Proving investors that you understand the market and that you can quickly respond to new information makes you a much more attractive investment object. Investors want trained entrepreneurs who are willing to accept feedback from experienced advisors, and use this information to build a better company.
Source: https://habr.com/ru/post/31624/
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