No Need for Stealth Mode for New Ventures

Pitch your product without giving away the “secret sauce”

Recently I came across a great blog post – Start-ups in stealth mode need one piece of advice – Just Stop .  Having spent the last 3 years in the early stage investment markets I can confirm this sound advice. I have never yet meet a business that wants a NDA (Non Disclosure Agreement) signed before they speak to you,  having any chance of success.

Not enough business people bait their audiences using a quantified value proposition. Instead they revert to the easier and more natural option of telling their potential customers about what great technology they have and how it works. These same people complain that their competition are stealing their ideas.

It’s about time the people giving advice in intellectual property educate their clients on how to talk about their business and their solution
without having to disclose details that would break any potential future patent rights.  Rather than simply advising them to say nothing, which usually gets translated by young entrepreneurs, into avoiding all contact with potential clients and investors – hence stealth mode.

So my advice is simple:

  1. Practice pitching your business in terms of value proposition rather than technology
  2. If your business can be destroyed by telling some one about it, stop now.

For the lazy ones who haven’t clicked the link above to  read Jason Freedman’s  full post  yet, you should have, here are the highlights:

Reasons you do not need to be in stealth mode:

  1. Execution is more important than the idea
  2. Someone else already has the idea
  3. Totally unique ideas generally don’t make it
  4. Failure is more likely through your incompetence than competition
  5. You desperately need feedback
  6. First mover advantage is silliness

If you would like a hand learning how to pitch without giving away the secret sauce – then attend the “Power Pitching Master Class” or give me a call.

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