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That is a great quote that pretty much sums it up. If people are intelligent enough and have the drive to do a start-up it is usually due to passion. Guess what
by kls 16y ago
That is a great quote that pretty much sums it up. If people are intelligent enough and have the drive to do a start-up it is usually due to passion. Guess what, passionate people think their idea is better than yours and a guy with no vision and a pocket full of money is not going to go through the trouble of stealing a product idea, assembling a team, and building a product. There is plenty of low hanging fruit out there that makes money with little involvement required and those are the opportunities a guy with cash and no vision is going to be looking at.
You run a far larger risk of developing a product, getting good traction and then someone emulating your idea after you have proved the market exists for a product, but when it is an idea on a napkin, it is an idea on a napkin and that's all it is worth. Isolating yourself from early feedback due to fear is the worst thing you can do.
I had an idea for an electromagnetic weight bench once and I have some pretty good connections in the industry. I discussed the idea with the executive group at EAS and Weider, hoping one of them would use the idea as I never had intentions of designing and building it, I just want an electromagnetic weight bench that I can dynamically adjust the weight, with an accelerometer that kills the weight if the bar is dropped to prevent injury.
They all though it was an amazing idea, I even got promises of financial backing if I wanted to pursue it. To this day, I don't have my electromagnetic weight bench because I was too busy at the time to do it myself and my passion lies elsewhere.
My point is, I put a good idea in front of industry leader, they though it was an amazing idea and they still told me, if you want to see it happen then you build it. They where more than willing to put up the money to a person with the vision, but they where not going to pursue assembling the people to make it happen.