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What happened to having an idea and someone hearing this idea and saying I would like to partner up?

I know that there are questions to go along with this, how else would you find out what the idea is? Or if you even believe in it enough to work on it? But seriously what happened to the little guy who just has an idea , an idea that he is practically giving it away just to see it work. I know that idea's are dime a dozen and any Joe nobody can have one. That is where my dilemma is, I have an idea but am not tech savvy enough to take it anywhere.. and there seems to be to much work to be done for anyone to take interest. I have found that all the co founders out there want an idea that is producing before they are willing to sign thier name to it. So like I said before what happened?

cory

34 Replies

Joshua Greenwald
0
0
Joshua Greenwald Entrepreneur
Entrepreneur
Let's talk. I'm one of the rare daring. Email me j @ the1j.com.
John Fitch
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John Fitch Advisor
Systems Engineering & Decision Management Consultant, ESEP
Corey. It's likely your idea needs to be fleshed out a bit before a potential partner can understand it's promise and assess their fit with your vision. I'm happy to do a 1-hour GoToMeeting session with you to throw your idea into a startup decision pattern and see what's missing. If that goes well, we're just "down the road" at the NIIC in Fort Wayne. Email: [removed to protect privacy]
Ranjit Ghoshal
0
1
Ranjit Ghoshal Advisor
Founder and Director at One Million Steps: Building a Healthier World for Giving®
Yea - looks like the same problem here. 3 awards, first Welsh Start Up to go to Google LaunchPad, lots of love and wow and recognition! but falling apart on the dev side for 8 months.

Started the year with a new vibe,have some money but struggling to figure out what to do with the build
  • agency (costs)
  • tech cofounder (so far they all come in with the attitude of "without me u are nothing" and wanting pay and equity without thinking I worked in the sector and it needs to be sold too after a build and actually it makes me think they are not interesting in the long term)
  • or get a full stack dev out of uni who can help manage an out-sourced build overseas

... it's breaking my heart and my bank account.

Almost about to go to https://crew.co/ I have heard good stuff about the experience - anyone else?

Sorry I gave not offered any help, but maybe along this thread we can find a way forward :)
David Pariseau
6
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David Pariseau Entrepreneur
CTO and CoFounder at Particles Plus

It takes an ENORMOUS amount of work to go from an idea to a company that's in the black and producing. In addition to the idea, there are lots of stars that have to align in order to make that idea a successful reality (funding, team, development, sales, support, etc...) And, though the idea is critical it is very much over-rated, lots of folks believe that the idea is sufficient to the success of an endeavor, and that the implementation and execution are just details (which obviously couldn't be farther from the truth, the execution IS the thing, the idea merely the spark that starts what you hope will be a fire).

Anyone who's been down this road before and realizes the commitment that's required will be rightfully cautious about vetting the opportunity before jumping in. Likely they have other options already and have to weigh your against the others. It's sort of like getting married and posting an add looking for a spouse with a short description of yourself and then expecting someone to say "I do" in response. You may find someone willing, but is that really the person you want?

A great source of co-founders if you're just starting out is folks you work with or have interacted with in your space. These are folks that will understandyour idea, know the market and will be able to buy into the concept. Also, you'll have some history with them and ideally a good working relationship (some work chemistry) and you'll have a sense of their expertise and they of yours.

Dave.

Faisal Memon
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Faisal Memon Entrepreneur
iOS Department Technical Lead at Citrix ShareFile Quick Edit
Cory,

There is a way around the problem you present.

If the idea requires a large technical input such a co-founder is put off, what you can do is the outside-in approach that DropBox did. They just put up a website that explained what the product does, and provided an invite button which leads to a screen saying, "We're not quite ready yet but leave an email and we'll get back to you."

This way you get potential customers before you have a prototype.

Corner cases excepted, that value of a user is 5 USD dollars. If 20 000 users sign up that's 100k USD potential value. The domain specifics will vary that valuation of course.

Once you have some kind of market validation, its leverage in a discussion with a cofounder. Maybe a subset of the problem can be served - enough for one technical co-founder to bootstrap. Its like the saying, "How do you eat an elephant?". Answer: "One plate at a time". Realistic smaller goals keep enthusiasm up and lead to bigger milestones over time.

One last point I hope will assist: good quality advisors are important. Outside opinion which is honest but constructive is valuable. This will serve to ensure your efforts are focussed on the right approach.
Judith Hurwitz
1
0
Judith Hurwitz Entrepreneur
President & CEO Hurwitz & Associates
Before involving others in your idea, I recommend thinking it through. What made you think of this idea? What is the business problem you are trying to solve? Are there similar products on the market today? How is your approach different? Bringing in partners is fine but you have to proceed from a position of strength. Do your own homework first
Edward Hooks
1
0
Edward Hooks Entrepreneur
Real Estate Advisor at Engel & Völkers Denver South
The 'idea' must be so vivid to the creator that a passionate burning desire precludes failure. The average overnight success does not adhere to Moore's Law, it still takes 15 years - and a Passionate Champion. Witness Sol-pass.com, my co-inventor began around year 2000. Ed Hooks Jr Every Day is a Holiday.
Janet Zaretsky
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Janet Zaretsky Advisor
Master Business Coach, Certified Professional Behavior and Motivator Analyst, Professional Speaker
As everyone above said plus there is one other thing that is critical. If you pick the wrong partner, the best ideas can go terribly wrong. You must seriously consider who you partner with not only from what they bring to the table that you need, but what else is missing from your team and where you are going to find and fund those resources- but also, who you both are and how you will both work together well. Work with someone outside of you to do DISC and Motivators type assessments and see (before it happens) if you will work together well under pressure or how to get the best out of each other.
Chuck Blakeman
1
0
Chuck Blakeman Entrepreneur
Founder, Chief Transformation Officer, Crankset Group
Cory,

You're starting with a false assumption that good ideas by themselves used to attract partners. Good ideas are what dreamers have, and one in a 100 million will be so simple and sublime that someone else will pick it up and bring it to market for/with you. Millions of good ideas are sent to Hollywood every year - maybe one or two of them end up as movies.

Good ideas precede invention - the first iteration of something - and most investors will not back inventors, either. They don't want to see a) an idea, or b) the invention it produced. They want c) proof it has a ready market. Plenty of great ideas have gone from a) ideation through b) invention, only to stall for decades in the market before being sellable. McDonalds was started in the 1930s and didn't break out until the late 1950s. The percussion hammer (installing floors) was invented in the 1890s and didn't get used until the 1900s. The pneumatic hammer was invented in the 1980s and wasn't adopted for general construction until 20+ years later. I saw fully functioning prototypes of HD TVs at Texas Instruments in the very early 1990s, but it didn't have a sellable market for almost 20 years.

There is a TV show called "American Pickers". These two guys sent in a demo video for SEVEN STRAIGHT YEARS to dozens of TV channels, and had already been working the idea for 20+ years. The 7th demo finally caught someone's eye, and they've been dong great for five years. Walt Disney went to 303 banks before the 304th one took a risk to give him a loan for Disneyworld. And on and on...

One of the biggest fallacies of startups is "the overnight success." Overnight successes are as rare as lottery winners, and nobody should create a business strategy around winning the lottery, including you.

Take your a) idea, and turn it into an b) invention/product, and then try to sell it. If you can't separate someone from their money, no partner will show up. And even if you can, it might take years to get a partner to show up.

I'm not trying to discourage you, but to re-orient your path to success. You almost certainly won't get their with good ideas, or even a good invention. You will have to hustle the invention and prove it is marketable, then you have to work hard to find someone who wants to get involved.

The #1 indicator of success is Speed of Execution. The #2 indicator of success is Time in Market (be the bulldog, last man standing, never give up). - Don't just have an idea - Get moving, then stay moving.

If this was easy, everybody would do it. But if someone wants it bad enough, they'll chase their vision long enough and hard enough to make something of it.
Russell Parrott
3
0
Russell Parrott Advisor
Linking entrepreneurs, new and expanding businesses, investors and professionals that have or can with those that need
Cory

Your thread 'what happened to ... ' OK, I'm not a funder etc. BUT I may be able to help on the tech side. I am a tech person with 'free time' on my hands and would be happy to 'get involved' even it's it's just to 'get you going'.

My rationale is that you may also be able to help me with a something not now, may be not at all, but also may be sometime in the future.

May not be any harm in talking?

You can contact me at parrott.russell at gmail.com (not sure if email addresses are allowed)

Have a great day/weekend and hope to hear from you.

Russell Parrott
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