Share your idea

you have to share your idea if you want
people to come on board finance your
investment bring on a team bring on
suppliers you have to let people know
what it is that you’re doing and not be
afraid you can do some research make
sure that the people you’re dealing with
are reputable but if you hold on to your
idea and you’re the only one who knows
about it it’s going to die with you you
have to at some point trust people but
they’re going to help you and not steal
your idea and run with it themselves I
got a question from one of my readers
who wrote in with a huge long email
selva basically wants to talk to an
angel investor Arlene Dickinson who’s a
angel investor here in Canada has a TV
show and in order to submit the idea
it’s all online and you’re saying
there’s no disclosure document so they
will not sign a nondisclosure agreement
which means that they’re not going to do
not help in court they share their idea
here’s the thing okay I used to be in
the venture capital business I had the
same policy we would never sign an NDA
because we see tons of the companies out
there with the exact same idea minor
modifications but on the whole it’s the
same thing and it means if by reading
your plan I couldn’t do a deal with
somebody else it wouldn’t happen people
in the investment community do not sign
NDA’s anybody who’s serious about it and
they’re doing a lot of deals so you have
to make up your mind here okay you will
need to get help if you’re trying to
raise capital you’re going to have to
trust somebody start by doing your
research look up Arlene she’s pretty big
name she has her TV show people know
about her see if she’s screwed anybody
on a deal to my knowledge he hasn’t but
if somebody has if she’s taking
somebody’s idea and run with it it’ll be
all over online you’ll find it you’ll
see if you has a good reputation or not
if you think about it from the investors
point of view think about it from
Arlene’s point of view or what I was
going through whatever you’re doing your
have some kind of shoot product I have
no interest in running a shoe company
I’m an investor
I have a general knowledge of a lot of
different businesses and how to run a
successful company but I have no
interest in starting a shoe company on
my own investors don’t make their money
by coming in poaching an idea and trying
to run it themselves they make money the
smart ones by partnering up with hungry
entrepreneurs you have a great idea who
have some experience to run this
business and all we’re putting in as a
capital some knowledge and connections I
don’t want to run a shoe company so it’s
up to you if you’re going to decide the
trust somebody like Arlene but she’s in
the same boat she has her own business
Tehran she has her own investments to
run she does not want to run a shoe
company it’s an investor’s worst
nightmare when they have to come in and
run the business they’d rather work with
entrepreneurs who are great at running
their company and they’re coming in
providing some expertise when an
investor has to come in and take over
business is because the entrepreneur
doesn’t know what they’re doing and they
had to save their investment and that’s
worst-case scenario for an investor she
does not want to run your company she
doesn’t want to steal your idea so do
your research find out see if she’s ever
done that to anybody because reputation
is everything in that industry and at
some point you’re going to have to trust
somebody otherwise the idea is going to
die with you and you’re never going to
be able to build the company that you
deserve to have believed those are
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underneath it always makes my morning
when I see the comments come in and if
you have a question for your own company
feel free to leave it below and I’ll
make a video reply for you thank you and
I’ll see you soon