Your Idea Is Not Worth The Napkin It’s Written On
The above graphic pretty much says it all, but in case you need additional explanation an idea by itself has no value. All of the value comes from the execution of the idea. I find so many people who are incredibly protective of their ideas, but don’t have the ability to execute on those ideas. Yeah, I know a lot of people seem to get investment capital and resources to get started from little more than an idea. While that sounds like a dream come true, it is usually more like a nightmare. Now you OWE people a piece of your realized dream. And believe me, they plan to collect. Much better to get a handle on your execution strategy learn about who your customer really is and what they really want before running headlong into full scale financed production. Make all (or at least most) of your mistakes while you are still broke, then when you get money, it will be to give you a boost into the marketplace, not what you need to get started. The further along in the process you receive capital,the less expensive it will be, and the great your ability to negotiate favorable terms. If you come to an angel or VC, with just an idea on a napkin, your leverage is equal to the cost of that napkin. Good luck!