A business plan is valuable but making it a state secret may not help you in closing a funding round. There is no way any serious investor would give you money without seeing your business plan. Also, do not expect any investor to even consider signing any NDA (non-disclosure agreement).
When you approach an investor and you ignorantly or arrogantly remind him that your business plan is confidential or proprietary to the extent that you cannot share it, you are not respecting the person’s time.
People, there is nothing that is written on paper that is new. What is new is how to combine atoms, bytes and bits to make any idea come to life. We need to be real: waving a piece of paper to an investor without showing it while expecting funding is classless. Yes, if you cannot share that business plan, go and get a day job because no one would fund you. The biggest risk in life is living in a parallel universe where the mind deceives you to think that only you have the greatest ideas.
This is my suggestion: when you go out to raise fund, never mention to any investor on the requirement of signing an NDA before he/she can see your business plan. I think it is very rude to even propose that. Also note that no credible investor would sign that. If there is any that agrees, I would suggest you run away from that person because he/she may not be investing.
A business plan is valuable but making it a state secret may not help you in closing a funding round. There is no way any serious investor would give you money without seeing your business plan. Also, do not expect any investor to even consider signing any NDA (non-disclosure agreement).
When you approach an investor and you ignorantly or arrogantly remind him that your business plan is confidential or proprietary to the extent that you cannot share it, you are not respecting the person’s time.
People, there is nothing that is written on paper that is new. What is new is how to combine atoms, bytes and bits to make any idea come to life. We need to be real: waving a piece of paper to an investor without showing it while expecting funding is classless. Yes, if you cannot share that business plan, go and get a day job because no one would fund you. The biggest risk in life is living in a parallel universe where the mind deceives you to think that only you have the greatest ideas.
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This is my suggestion: when you go out to raise fund, never mention to any investor on the requirement of signing an NDA before he/she can see your business plan. I think it is very rude to even propose that. Also note that no credible investor would sign that. If there is any that agrees, I would suggest you run away from that person because he/she may not be investing.
