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November 4, 2016

[Video] Do I need an NDA before pitching my idea? – Bobby’s Minute, ep. 44

Hint: there are high chances that other people have the same idea that you do. Execution is everything.

Link Derek Sivers’ article.

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Transcript:

Do you need an NDA before pitching your idea?

No, the ideas are a dime a dozen.

Basically, as the Derek Sivers says in an article on his blog (I’ll put the link in the description): ideas are multiplier of execution. So, even if you had a great idea, the probability that somebody else had a similar idea is quite big. In my experience, most of the investors will not sign an NDA unless you’re, I don’t know, some kind of genius that had the genius prototype of teleporting, probably nobody’s going to sign an NDA.

The thing is your idea is not important, if you don’t have something behind it. If you have a great MVP, if you have a great execution behind it, if you already have clients buying your product, then that’s different, but if you have just the idea and you have done nothing about it, you shouldn’t ask for an NDA. Nobody’s going to steal your idea and even if somebody creates a product that similar to your idea, your idea is just that: an idea.

Unless you have something to show behind it, you can’t really complain about anything. So, if you have a great idea, talk to people around you, talk to potential partners, talk to potential investors because you refine your idea and, at some point, you’ll get to a product that will support the company, but do not go, under any circumstances almost, to an investor or to a potential partner with an NDA because, at least for me, that’s a sign I don’t want to work with you.

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