"I've got a great idea!"
It's a common statement in my world and it's typically followed up with a "If you'll just sign this non-disclosure agreement, I'll be happy to tell you what it is."
Although I had those days of feeling the need to protect my new idea, latest draft or someones technology, I would not suggest it even if you are new.
Here's the thing...
One. The likelihood is that is you are approaching an inverstor, marketer or potential partner and they don't want to steal your idea. This is not to say it isn't a great one, but it does mean that you will be limiting your ability to move forward if you ask individuals to take your word that it is in fact new and worth bringing to fruition. Bringing a product to market is hard and typically, the Universe tends to give the same or similar ideas to multiple people at the same time. This happens for a variety of reasons like social need or popular culture but from initial idea to marketability, it's a long road and projects (especially the good ones), tend to mutate and pivot based on the inventor's personal history and abilities, resources, partner needs and input, etc.
Two. Once you pitch your idea or concept, there isn't usually the response all hopefuls want. That high five or a pat on the back and a handshake to seal the "perfect" deal, in my world, is unheard of. There are many considerations a partner with valuable experience has to research, discuss, bring to their board or other partners. This happens over and over until the right situation, relationship and conditions exist to make the efforts most successful. Those that have been around innovation know that it takes a firm commitment to the process and that can mean sacrifice and strife for all involved.
Three. If you don't find the "right" fit, keep going. This may mean going it alone, as with my iJar project. It's there, it's a good idea but I can't code and haven't found a partner to help with that aspect. I feel it's an important concept to work on and look for the right opportunities to help with educational funding through this simple approach. It doesn't, however, pay the bills so it gets the appropriate amount of time in regards to other clients and projects. The wrong fit can mean so many things. It can mean tensions between opposing personality types or priorities. It can result in loss of additional resources, failure and bankruptcy. The right fit can be hard to wait for but the wrong offer can be devastating. Follow you instinct, do your homework and don't sell yourself short.
Four. Once you have a product or project and the right partners, settle in for a long and tedious ride. Agreements, client validation, business model planning and other components can be frustrating to those looking to make it big quick. It does happen, but it's rare. If you look deeply into the stories of "overnight" successes, they are rarely so. Angry Birds was Rovio’s 52nd game and they almost went bankrupt before this huge hit. Microsoft started in 1975 and didn't make it big until going public in 1986. Pinterest struggled in early stages of development and has had a difficult road to get to the position of social media dominance they have (right now) but will have to continue to develop with the market to maintain their foothold. Point is, keep at it if it's something you truly believe in and try not to compare yourself to Amazon, who only had three years between startup and multibillion dollar success.
Five. Leverage every resource you have to get your business going. Don't go to investors if you aren't willing to leverage your available capital, sign up for assistance or attend informational seminars and training sessions. If you won't work from early morning until you are exhausted, don't ask others to play a part. Thank you notes, financial strategy, competition analysis and other key topics take a lot of work and you will likely have to sacrifice personal time and much energy to keep moving forward. Great resources like SCORE, the SBIR and the SBDC can help (for free), but the help still requires you to do the actual work. Dedicate yourself to humility and accept help where you find it, sacrifice where necessary and adversity that is sure to come an an almost daily basis. Learn to negotiate everything and pour anything gained from your negotiations back into your efforts.
Working in the clean tech arena, I've learned more about marketing new paradigms than I could have possibly foreseen. I've learned about topics from malaria to grant writing, from oil & gas to soil remediation and I love it. It's a great niche for me and the projects are personally fulfilling. I've always loved nature, communications and marketing and this sector has me bounding out of bed, knowing the importance of the tasks at hand. If I need a reminder, I talk with my associates in Africa, India and the Philippines to name a few and am reminded that my talents were given to me not to squander, but to use for growth and the good of humanity. If it sounds idealistic, you may want to stick with a job. Marketing new paradigm or product requires a firm and steadfast belief in what you are doing to get through all of the adversity and obstacles that will inevitably come your way. In the words of Dory from Little Nemo, "Just keep swimming, swimming, swimming."
Need help on getting started or bringing your idea to fruition? We offer a free consultation for approved companies and ideas. Call 801-906-8061 for more information.
It's a common statement in my world and it's typically followed up with a "If you'll just sign this non-disclosure agreement, I'll be happy to tell you what it is."
Although I had those days of feeling the need to protect my new idea, latest draft or someones technology, I would not suggest it even if you are new.
Here's the thing...
One. The likelihood is that is you are approaching an inverstor, marketer or potential partner and they don't want to steal your idea. This is not to say it isn't a great one, but it does mean that you will be limiting your ability to move forward if you ask individuals to take your word that it is in fact new and worth bringing to fruition. Bringing a product to market is hard and typically, the Universe tends to give the same or similar ideas to multiple people at the same time. This happens for a variety of reasons like social need or popular culture but from initial idea to marketability, it's a long road and projects (especially the good ones), tend to mutate and pivot based on the inventor's personal history and abilities, resources, partner needs and input, etc.
Two. Once you pitch your idea or concept, there isn't usually the response all hopefuls want. That high five or a pat on the back and a handshake to seal the "perfect" deal, in my world, is unheard of. There are many considerations a partner with valuable experience has to research, discuss, bring to their board or other partners. This happens over and over until the right situation, relationship and conditions exist to make the efforts most successful. Those that have been around innovation know that it takes a firm commitment to the process and that can mean sacrifice and strife for all involved.
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| Late nights at StartUp Weekend |
Three. If you don't find the "right" fit, keep going. This may mean going it alone, as with my iJar project. It's there, it's a good idea but I can't code and haven't found a partner to help with that aspect. I feel it's an important concept to work on and look for the right opportunities to help with educational funding through this simple approach. It doesn't, however, pay the bills so it gets the appropriate amount of time in regards to other clients and projects. The wrong fit can mean so many things. It can mean tensions between opposing personality types or priorities. It can result in loss of additional resources, failure and bankruptcy. The right fit can be hard to wait for but the wrong offer can be devastating. Follow you instinct, do your homework and don't sell yourself short.
Four. Once you have a product or project and the right partners, settle in for a long and tedious ride. Agreements, client validation, business model planning and other components can be frustrating to those looking to make it big quick. It does happen, but it's rare. If you look deeply into the stories of "overnight" successes, they are rarely so. Angry Birds was Rovio’s 52nd game and they almost went bankrupt before this huge hit. Microsoft started in 1975 and didn't make it big until going public in 1986. Pinterest struggled in early stages of development and has had a difficult road to get to the position of social media dominance they have (right now) but will have to continue to develop with the market to maintain their foothold. Point is, keep at it if it's something you truly believe in and try not to compare yourself to Amazon, who only had three years between startup and multibillion dollar success.
Five. Leverage every resource you have to get your business going. Don't go to investors if you aren't willing to leverage your available capital, sign up for assistance or attend informational seminars and training sessions. If you won't work from early morning until you are exhausted, don't ask others to play a part. Thank you notes, financial strategy, competition analysis and other key topics take a lot of work and you will likely have to sacrifice personal time and much energy to keep moving forward. Great resources like SCORE, the SBIR and the SBDC can help (for free), but the help still requires you to do the actual work. Dedicate yourself to humility and accept help where you find it, sacrifice where necessary and adversity that is sure to come an an almost daily basis. Learn to negotiate everything and pour anything gained from your negotiations back into your efforts.
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| The age where I became concerned about global warming. |
Working in the clean tech arena, I've learned more about marketing new paradigms than I could have possibly foreseen. I've learned about topics from malaria to grant writing, from oil & gas to soil remediation and I love it. It's a great niche for me and the projects are personally fulfilling. I've always loved nature, communications and marketing and this sector has me bounding out of bed, knowing the importance of the tasks at hand. If I need a reminder, I talk with my associates in Africa, India and the Philippines to name a few and am reminded that my talents were given to me not to squander, but to use for growth and the good of humanity. If it sounds idealistic, you may want to stick with a job. Marketing new paradigm or product requires a firm and steadfast belief in what you are doing to get through all of the adversity and obstacles that will inevitably come your way. In the words of Dory from Little Nemo, "Just keep swimming, swimming, swimming."
Need help on getting started or bringing your idea to fruition? We offer a free consultation for approved companies and ideas. Call 801-906-8061 for more information.
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