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What do you think about protecting a product idea?

Discussion in 'Advertising, Marketing, Social Media' started by abandance, Mar 27, 2019.

  1. abandance
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    abandance New Contributor Read Millionaire Fastlane

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    Hello,

    "I have an idea, but I need you to sign my NDA first..." - yes, I know this one. And it is not about that or is it? I have discovered the need and a great solution to provide value. This solution is an existing product, which is unknown in my country and even my region. However, as soon as I show it to others and those others understand that this is a good solution for an existing need, they will potentially copy the product.

    The idea is to market this product through a crowd funding campaign, a good entertaining video shortly explaining the benefits of the product and how customer's life will become easier using it. So even when a entrepreneurial individual is familiar with the product but have not recognized its potential, this video will definitely do the work.

    What is your take on this topic? Should I ignore the risks of being copied and just provide excellence in implementation?
     
  2. Vigilante
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    Vigilante Legendary Contributor Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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  3. TreyAllDay
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    TreyAllDay Whatever it takes Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I refer to the Lean Startup (book/methodology) every time someone brings this up.

    Without knowing that your ideas is, I can only say this: Ideas aren't shit 99.9999% of the time. Your advantage as a startup is NOT ever about your idea, it's your ability to be lean in your execution, pivot when needed, and learn more from your customers than the bigger companies. Larger companies cannot do that and most people you're afraid to tell will not execute it.

    I repeat: NOBODY cares about your idea.
     
    rwhyan and B. Cole like this.

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