Home – New Forums Starting your journey Pitching an idea to investors

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  • #987313
    BeauS
    Member
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    Hello,

    I was wondering if someone could give me advice on looking for investors.

    I came up with a business idea and want to pitch it but I am worried about posting it on a site only to have it ripped off. How can I pitch an idea and keep it safe?

    Many thanks.

    #1162080
    Breezepros
    Member
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    Hi BeauS

    Get involved in a local startup community in your area. You will gain support and feedback from like minded people.

    Checkout http://pollenizer.com has a free pitch deck and groups in Sydney and Melbourne amongst others.

    For pitching see Oren Klaff and Antony Gaddie at Greenant Marketing. Both great resources.

    With some research and feedback you will find you don’t need to worry about losing your ip. In fact you will find lots of great people looking to help you succeed. But it will take effort and persistence over everything else.

    Good luck with your big idea. I hope this helps a bit to set you on the path

    Al

    #1162081
    Dave Gillen – Former FS Concierge
    Keymaster
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    Welcome aboard the forums Beau and Al!

    If you get a chance, we’d love to know more about you both over at the “Introduce Yourself” section. :)

    Beau a great business idea is usually formed through putting an initial idea in front of people, getting feedback and advice, improving it, then pitching it again, improving it etc. For this reason, people usually overestimate the importance of protecting their initial idea.

    The first time you pitch it to someone with expertise, they may give you a better direction for your idea. Now all of a sudden your old idea that you spent 6 months (and lawyers fees even) protecting is just your old (less valuable) idea.

    In general I’d say to “pitch” your idea to possible customers or users first, and see if you can get some customers. This will tell you if it’s really a good idea or not, and help you make a bunch of improvements before you approach investors. Plus “I have a bunch of paying customers” provides far better proof to investors than “I think this sounds cool”.

    Good luck! :)

    Dave

    #1162082
    affgar
    Member
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    Good post BeauS.

    This has always scared me. I have concepts I have been working on for over 5 years. Still reluctant to involve other people .. lol

    Crowd sourcing is another idea worth considering. Putting a genuine, interesting, beneficial proposal forward can gain a lot of interest from people. You would be surprised at what some people will throw money at.

    Bare in mind that you do own copyright. No one can take that away from you. But people can always create variations of your idea … there is no way to stop it ever.

    One way to safe guard an idea is this:

    put your plans, video, pictures, sketches into a registered post envelope & mail it to yourself.

    If you have to … you have a proved date(pictures & digital mediums can help with this too), you have a proved plan that your created. Having it unopened in a register envelop/package, means that if you do have to draw on it in a legal sense you will have something to backup your creation.

    Doesn’t mean it will work or safe guard your ideas though. Legal battles can be ridiculous, waste heaps of money & end in fanciful ways.

    Try coming up with a concept of community participation or charity focus. You may be able to involve people to help bring your idea forward while supporting a worthy cause.

    :D

    #1162083
    MPSwebprojects
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    The team I work in includes a number of full time business advisors. This is a question we come across very often, and the reality is that you probably don’t need to be scared of people ripping off your idea.

    Unless it is truly innovative and unique (which is extremely rare), chances are nobody else will be bothered to put in the time and effort.

    Many people waste months or years stressing over planning their great new business idea that by the time they pitch it to someone, it really isn’t as great as they had built it up in their mind. For example, we had a client I spoke to regularly on the phone who refused to tell me what his idea was for fear of it being ripped off and would only speak to his advisor in person. Turns out his big secret plan was to open a food truck!

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