if you’ve got a great idea for a
business and you’re worried that
somebody might steal it from you I’m
gonna share in this video whether you
should or should not use a nondisclosure
agreement
and when high-level Carmichael I believe
in entrepreneurs and I recently got a
question for one of my YouTube
subscribers love you guys Raymond ivy
who wrote in the say I have an I have a
question at first I want to say thanks
for being you thanks for sharing your
knowledge and being an inspiration to
people like me that genuinely want to
become something you are awesome man
thanks Raymond man feeling the love my
question is when wanting to share an
idea who should I give an NDA to I’ve
had many people steal ideas from me
people I really trusted and thought were
my friends even people intentionally
attending my events and trying to
duplicate them I’m trying to build a
team but it’s been tough and now I’m
very hesitant of sharing my ideas but if
I don’t share my ideas I’ll be rolling
solo and I’ll take longer to reach
success Raymond fantastic question and
one that I think a lot of entrepreneurs
wrestle with especially if you’re doing
something new and different and you’re
worried do I get some of the sign an NDA
or not so today I’m going to share with
you my three suggestions for you and
also give you a little bit of background
on my experience with NDA s so number
one is execution over ideas are you
sleeping in the venture capital business
and these C’s will never sign an NDA
because there’s so many different people
who have similar ideas that if they sign
an NDA with one they won’t be able to
work with any of the other companies
doing the same thing and so what a VC
will tell you and I tend to agree is
it’s not so much about the idea it’s the
execution of it lots of people have
ideas
the difference is can you execute on it
and turn it into something that can be
really successful make a lot of money
number two is appearance versus reality
you see an NDA is helpful and an NDA
basically for those of you don’t know it
stands for non-disclosure agreement and
what it means is when you disclose your
idea to somebody they can’t go and share
it with anybody else or use it for any
other purpose than to help you with what
you’re trying to do the thing with an
NDA
you have to be able to enforce it right
and enforcing it costs money and that’s
where a lot of people will stumble and
fall down so yeah great somebody signs
your NDA
and if they rip you off what are you
gonna do are you gonna take them to
court that’s your solution right are you
gonna take them to court or not and are
you willing to invest the funds to be
able to do that now if you’ve got deep
pockets you can afford it go for it the
big companies use NBA’s all the time and
they back themselves up with a legal
team but if you don’t have that then
it’s a lot harder to make it stick
because yeah they sign it but they can
go off and do it anyway so that’s the
reality but the appearance is that
signing of the document may be enough
just to make them think twice about it
so in my mastermind groups I run a
series of mastermind groups here in
Toronto int city and I make everybody
sign an NDA before they come to the
first meeting because in the groups we
start talking about sensitive personal
stuff that you wouldn’t want other
people to know or share or leverage the
thing is though again is somebody really
going to sue somebody else who shared an
idea in the group probably not so it
comes down to bringing the right people
on into the groups that you can trust
and build a relationship with but also
have that appearance of professionalism
and have it there as an option just in
case so if you’re really worried about
it then that’s a potential threat you
still have to sue them to follow through
on it but it gives you perceived
importance instead of what in reality is
you’re gonna have to sue them and spend
a lot of money if they do break it and
number three is understanding your
strengths and what I mean by this is I
agree with the first point where it’s
more about the execution than the idea
and if you’re the kind of guy where
people are stealing your ideas and
they’re making a lot of money off it and
you’re not able to execute right you’re
more the ideas guy and not the execution
guy that’s always going to hurt you and
so you have to leverage what you’re
really good at and protect yourself so
you can use NDA’s you can use patents if
there’s a way to patent your process or
your idea somehow and probably more
important is you need to find the right
partner
you need to find somebody who can
execute the ideas that you come up with
so you come up with the idea take it to
for a wish and say here’s something
great that we can work on and then your
business partner goes and takes that and
runs with it and helps you build
something successful now finding that
key person is gonna be the really most
important thing for you to do right now
in your business and until you get there
I’d suggest staying really high level
you protect yourself by not sharing too
much you can share high level
information about what you’re trying to
do and what you’re trying to build up
and hopefully now after some of those
failed relationships your your gut has
been trained a little bit better your BS
meter is a little bit higher you’ve
learned through those past experiences
and you can start letting somebody in
the circle of trust that you create
little by little by little until you’d
like volge
the whole idea to them so you start very
high level don’t share very much
information just enough to get them
interested and then slowly as they earn
trust you divulge more and more so those
are my thoughts I hope that helps
continue to believe and for those of you
watching I love to know your thoughts if
you’ve used NDA’s or not if you’re
thinking about it share into the in the
comments below I’m gonna join in that
discussion and I’d love to hear from you
if you liked this video and you want to
see more don’t forget to subscribe to
the newsletter and the channel thank you
so much for watching I’ll see you soon
business and you’re worried that
somebody might steal it from you I’m
gonna share in this video whether you
should or should not use a nondisclosure
agreement
and when high-level Carmichael I believe
in entrepreneurs and I recently got a
question for one of my YouTube
subscribers love you guys Raymond ivy
who wrote in the say I have an I have a
question at first I want to say thanks
for being you thanks for sharing your
knowledge and being an inspiration to
people like me that genuinely want to
become something you are awesome man
thanks Raymond man feeling the love my
question is when wanting to share an
idea who should I give an NDA to I’ve
had many people steal ideas from me
people I really trusted and thought were
my friends even people intentionally
attending my events and trying to
duplicate them I’m trying to build a
team but it’s been tough and now I’m
very hesitant of sharing my ideas but if
I don’t share my ideas I’ll be rolling
solo and I’ll take longer to reach
success Raymond fantastic question and
one that I think a lot of entrepreneurs
wrestle with especially if you’re doing
something new and different and you’re
worried do I get some of the sign an NDA
or not so today I’m going to share with
you my three suggestions for you and
also give you a little bit of background
on my experience with NDA s so number
one is execution over ideas are you
sleeping in the venture capital business
and these C’s will never sign an NDA
because there’s so many different people
who have similar ideas that if they sign
an NDA with one they won’t be able to
work with any of the other companies
doing the same thing and so what a VC
will tell you and I tend to agree is
it’s not so much about the idea it’s the
execution of it lots of people have
ideas
the difference is can you execute on it
and turn it into something that can be
really successful make a lot of money
number two is appearance versus reality
you see an NDA is helpful and an NDA
basically for those of you don’t know it
stands for non-disclosure agreement and
what it means is when you disclose your
idea to somebody they can’t go and share
it with anybody else or use it for any
other purpose than to help you with what
you’re trying to do the thing with an
NDA
you have to be able to enforce it right
and enforcing it costs money and that’s
where a lot of people will stumble and
fall down so yeah great somebody signs
your NDA
and if they rip you off what are you
gonna do are you gonna take them to
court that’s your solution right are you
gonna take them to court or not and are
you willing to invest the funds to be
able to do that now if you’ve got deep
pockets you can afford it go for it the
big companies use NBA’s all the time and
they back themselves up with a legal
team but if you don’t have that then
it’s a lot harder to make it stick
because yeah they sign it but they can
go off and do it anyway so that’s the
reality but the appearance is that
signing of the document may be enough
just to make them think twice about it
so in my mastermind groups I run a
series of mastermind groups here in
Toronto int city and I make everybody
sign an NDA before they come to the
first meeting because in the groups we
start talking about sensitive personal
stuff that you wouldn’t want other
people to know or share or leverage the
thing is though again is somebody really
going to sue somebody else who shared an
idea in the group probably not so it
comes down to bringing the right people
on into the groups that you can trust
and build a relationship with but also
have that appearance of professionalism
and have it there as an option just in
case so if you’re really worried about
it then that’s a potential threat you
still have to sue them to follow through
on it but it gives you perceived
importance instead of what in reality is
you’re gonna have to sue them and spend
a lot of money if they do break it and
number three is understanding your
strengths and what I mean by this is I
agree with the first point where it’s
more about the execution than the idea
and if you’re the kind of guy where
people are stealing your ideas and
they’re making a lot of money off it and
you’re not able to execute right you’re
more the ideas guy and not the execution
guy that’s always going to hurt you and
so you have to leverage what you’re
really good at and protect yourself so
you can use NDA’s you can use patents if
there’s a way to patent your process or
your idea somehow and probably more
important is you need to find the right
partner
you need to find somebody who can
execute the ideas that you come up with
so you come up with the idea take it to
for a wish and say here’s something
great that we can work on and then your
business partner goes and takes that and
runs with it and helps you build
something successful now finding that
key person is gonna be the really most
important thing for you to do right now
in your business and until you get there
I’d suggest staying really high level
you protect yourself by not sharing too
much you can share high level
information about what you’re trying to
do and what you’re trying to build up
and hopefully now after some of those
failed relationships your your gut has
been trained a little bit better your BS
meter is a little bit higher you’ve
learned through those past experiences
and you can start letting somebody in
the circle of trust that you create
little by little by little until you’d
like volge
the whole idea to them so you start very
high level don’t share very much
information just enough to get them
interested and then slowly as they earn
trust you divulge more and more so those
are my thoughts I hope that helps
continue to believe and for those of you
watching I love to know your thoughts if
you’ve used NDA’s or not if you’re
thinking about it share into the in the
comments below I’m gonna join in that
discussion and I’d love to hear from you
if you liked this video and you want to
see more don’t forget to subscribe to
the newsletter and the channel thank you
so much for watching I’ll see you soon
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