Tuesday, August 4, 2009

Tell Your Idea to EVERYONE

Most folks think that sharing business ideas without a non-disclosure/confidentiality agreement is a big mistake. I say "hog-wash"!

Ideas are a dime a dozen and you don't ask for a Prenup after the first couple of dates. That comes later.... after you realize the person that you are going to be in partnership with has the propensity to screw you over at some point in the future (some irony there of course).

Face it....people are too wrapped up in their own work, families and hobbies to steal your idea and run with it.

I heard former Atlanta Braves pitching coach, Leo Mazzone, say that the best way for young kids who wish to strengthen their arms is to throw hard every day, until tired. That is how I feel about pitching new business ideas. PITCH, PITCH, PITCH until tired, every day.

If you have gone to the trouble of forming a company then you have a responsibility to protect the intellectual property of the business. However, until you have formally created your company..... TELL EVERYONE YOUR IDEA!

Pitch your friends, your relatives, your neighbors. Talk to potential customers, investors, partners, and suppliers. The more you pitch it the, the more refined the idea will become. Without pitching "your idea" at nauseum, you will never know where the pitfalls and trouble may be?

You will get a lot of negative feedback. You will get a lot of bad advice. But don't fear the wrath of negative feedback. It will hone your pitch skills and sharpen your responses. PITCH, PITCH, PITCH. Good luck!