I know im not the only one that this effects and if your not the one being asked im positive you are either the one asking or the one who will be asking very soon and so im here to put a stop to it (a full stop). [excuse the pun]
So i have to admit i use to be the idiot as i now refer to them who approached other people either who had list’s or had money to invest or were even just in the same industry and who i thought would make a good partner [note write a post about JV partners].
I would contact them and tell them i had this amazing idea and that i was looking to partner up with someone and it would make millions and change the face of “marketing or whatever it was” forever.
Now 9 times out of 10 i would be shot down! Told how stupid i was or basically just told that they were not interested, usually followed by them never talking to me again or simply blocking me.
Not a good response at all!
And the 1 out of 10 people (probably a lot lower number than that) that showed some interest then turned around and either didn’t have any money to invest or were even further down the “ladder” than i was and would have provided no value at all to being a partner with.
So why on earth was every single amazing idea (some which i have now single handily gone out and done and made good money with) that i had all that time ago, shot down by so many people and never a viable investment or either money or time?
Because that’s all it was! An idea!
Until you turn that idea into something tangible or at least make a start on it and get it to a stage where you have something to show (the more complete the better) the more likely you are going to get an investment.
You have showed your dedicated!
The potential partner can SEE what your talking about!
You have hopefully got it past the point of failure where your not going to quit on it if it doesn’t make you a quick buck soon and you have already over-come most if not all of the problems along the way.
But most importantly you have something worth investing in and that’s where the big difference lies!
You see now im on the other side of the table where people ask me on an almost daily basis if i can invest my time or likewise my money into their “amazing” idea, often asking me to sign NDA’s (non disclosure agreements) or some other legal document which basically says that if i use any part of their idea later in life then they can claim their cut!
So they basically want to use my success, my list, my capital, knowledge and time to make some easy money when all they did was think up an idea and get some legal documents!
Which is why i will never ever sign one and i highly suggest you never sign one too otherwise it could come back to haunt you later in life especially as you don’t have any idea what the idea is before you sign and so could be using even a small part of it already.
Imagine being sued for using someone’s idea that you already do in your business, now that would suck!
Anyhow to sum up here if you have an idea then try it out and try to make it work on your own! If you need help then hire it or ask for it politely and remember there is always another way around getting something done or doing something even if you have to give away a part of your business.
But most importantly an idea is never an investment opportunity!