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Why Would-Be Entrepreneurs Need a Reality Check
A woman contacted me about six months ago, asking for some feedback on a startup idea. While not a friend, I had known her for quite some time and always enjoyed chatting with her. She had been a visible member of the business community for a number of years and had a good reputation. I agreed to a 30-minute meeting.
She arrived with her husband, and immediately, they jumped into a barrage of questions about hiring, funding, and technology. I stopped them and asked, “What’s the business?” She said, “That’s confidential.” In response to my surprise and befuddlement, she turned to her husband and said, “OK, have him sign the NDA.” I smiled and said, “Can I give you a reality check?” They both nodded uncomfortably.
NDAs, Confidentiality, and Idea-Stealing
People don’t steal ideas because they have a plethora of their own crappy ideas. Ideas are common; execution is mind-bogglingly difficult. The chances of someone hearing an idea, then spending years grinding and sacrificing to turn it into a company, is infinitesimally small. In fact, the challenge for people capable of building a company is not finding ideas — it’s deciding which to work on. Are there copycat startups? Absolutely. But people don’t copy a “new" idea with an unproven business model. Read the entire article HERE