if you’ve got a great idea for a business and you’re worried that
business and you’re worried that
business and you’re worried that somebody might steal it from you I’m
somebody might steal it from you I’m
somebody might steal it from you I’m gonna share in this video whether you
gonna share in this video whether you
gonna share in this video whether you should or should not use a nondisclosure
should or should not use a nondisclosure
should or should not use a nondisclosure agreement
agreement
agreement and when high-level Carmichael I believe
and when high-level Carmichael I believe
and when high-level Carmichael I believe in entrepreneurs and I recently got a
in entrepreneurs and I recently got a
in entrepreneurs and I recently got a question for one of my YouTube
question for one of my YouTube
question for one of my YouTube subscribers love you guys Raymond ivy
subscribers love you guys Raymond ivy
subscribers love you guys Raymond ivy who wrote in the say I have an I have a
who wrote in the say I have an I have a
who wrote in the say I have an I have a question at first I want to say thanks
question at first I want to say thanks
question at first I want to say thanks for being you thanks for sharing your
for being you thanks for sharing your
for being you thanks for sharing your knowledge and being an inspiration to
knowledge and being an inspiration to
knowledge and being an inspiration to people like me that genuinely want to
people like me that genuinely want to
people like me that genuinely want to become something you are awesome man
become something you are awesome man
become something you are awesome man thanks Raymond man feeling the love my
thanks Raymond man feeling the love my
thanks Raymond man feeling the love my question is when wanting to share an
question is when wanting to share an
question is when wanting to share an idea who should I give an NDA to I’ve
idea who should I give an NDA to I’ve
idea who should I give an NDA to I’ve had many people steal ideas from me
had many people steal ideas from me
had many people steal ideas from me people I really trusted and thought were
people I really trusted and thought were
people I really trusted and thought were my friends even people intentionally
my friends even people intentionally
my friends even people intentionally attending my events and trying to
attending my events and trying to
attending my events and trying to duplicate them I’m trying to build a
duplicate them I’m trying to build a
duplicate them I’m trying to build a team but it’s been tough and now I’m
team but it’s been tough and now I’m
team but it’s been tough and now I’m very hesitant of sharing my ideas but if
very hesitant of sharing my ideas but if
very hesitant of sharing my ideas but if I don’t share my ideas I’ll be rolling
I don’t share my ideas I’ll be rolling
I don’t share my ideas I’ll be rolling solo and I’ll take longer to reach
solo and I’ll take longer to reach
solo and I’ll take longer to reach success Raymond fantastic question and
success Raymond fantastic question and
success Raymond fantastic question and one that I think a lot of entrepreneurs
one that I think a lot of entrepreneurs
one that I think a lot of entrepreneurs wrestle with especially if you’re doing
wrestle with especially if you’re doing
wrestle with especially if you’re doing something new and different and you’re
something new and different and you’re
something new and different and you’re worried do I get some of the sign an NDA
worried do I get some of the sign an NDA
worried do I get some of the sign an NDA or not so today I’m going to share with
or not so today I’m going to share with
or not so today I’m going to share with you my three suggestions for you and
you my three suggestions for you and
you my three suggestions for you and also give you a little bit of background
also give you a little bit of background
also give you a little bit of background on my experience with NDA s so number
on my experience with NDA s so number
on my experience with NDA s so number one is execution over ideas are you
one is execution over ideas are you
one is execution over ideas are you sleeping in the venture capital business
sleeping in the venture capital business
sleeping in the venture capital business and these C’s will never sign an NDA
and these C’s will never sign an NDA
and these C’s will never sign an NDA because there’s so many different people
because there’s so many different people
because there’s so many different people who have similar ideas that if they sign
who have similar ideas that if they sign
who have similar ideas that if they sign an NDA with one they won’t be able to
an NDA with one they won’t be able to
an NDA with one they won’t be able to work with any of the other companies
work with any of the other companies
work with any of the other companies doing the same thing and so what a VC
doing the same thing and so what a VC
doing the same thing and so what a VC will tell you and I tend to agree is
will tell you and I tend to agree is
will tell you and I tend to agree is it’s not so much about the idea it’s the
it’s not so much about the idea it’s the
it’s not so much about the idea it’s the execution of it lots of people have
execution of it lots of people have
execution of it lots of people have ideas
ideas
ideas the difference is can you execute on it
the difference is can you execute on it
the difference is can you execute on it and turn it into something that can be
and turn it into something that can be
and turn it into something that can be really successful make a lot of money
really successful make a lot of money
really successful make a lot of money number two is appearance versus reality
number two is appearance versus reality
number two is appearance versus reality you see an NDA is helpful and an NDA
you see an NDA is helpful and an NDA
you see an NDA is helpful and an NDA basically for those of you don’t know it
basically for those of you don’t know it
basically for those of you don’t know it stands for non-disclosure agreement and
stands for non-disclosure agreement and
stands for non-disclosure agreement and what it means is when you disclose your
what it means is when you disclose your
what it means is when you disclose your idea to somebody they can’t go and share
idea to somebody they can’t go and share
idea to somebody they can’t go and share it with anybody else or use it for any
it with anybody else or use it for any
it with anybody else or use it for any other purpose than to help you with what
other purpose than to help you with what
other purpose than to help you with what you’re trying to do the thing with an
you’re trying to do the thing with an
you’re trying to do the thing with an NDA
NDA
NDA you have to be able to enforce it right
you have to be able to enforce it right
you have to be able to enforce it right and enforcing it costs money and that’s
and enforcing it costs money and that’s
and enforcing it costs money and that’s where a lot of people will stumble and
where a lot of people will stumble and
where a lot of people will stumble and fall down so yeah great somebody signs
fall down so yeah great somebody signs
fall down so yeah great somebody signs your NDA
your NDA
your NDA and if they rip you off what are you
and if they rip you off what are you
and if they rip you off what are you gonna do are you gonna take them to
gonna do are you gonna take them to
gonna do are you gonna take them to court that’s your solution right are you
court that’s your solution right are you
court that’s your solution right are you gonna take them to court or not and are
gonna take them to court or not and are
gonna take them to court or not and are you willing to invest the funds to be
you willing to invest the funds to be
you willing to invest the funds to be able to do that now if you’ve got deep
able to do that now if you’ve got deep
able to do that now if you’ve got deep pockets you can afford it go for it the
pockets you can afford it go for it the
pockets you can afford it go for it the big companies use NBA’s all the time and
big companies use NBA’s all the time and
big companies use NBA’s all the time and they back themselves up with a legal
they back themselves up with a legal
they back themselves up with a legal team but if you don’t have that then
team but if you don’t have that then
team but if you don’t have that then it’s a lot harder to make it stick
it’s a lot harder to make it stick
it’s a lot harder to make it stick because yeah they sign it but they can
because yeah they sign it but they can
because yeah they sign it but they can go off and do it anyway so that’s the
go off and do it anyway so that’s the
go off and do it anyway so that’s the reality but the appearance is that
reality but the appearance is that
reality but the appearance is that signing of the document may be enough
signing of the document may be enough
signing of the document may be enough just to make them think twice about it
just to make them think twice about it
just to make them think twice about it so in my mastermind groups I run a
so in my mastermind groups I run a
so in my mastermind groups I run a series of mastermind groups here in
series of mastermind groups here in
series of mastermind groups here in Toronto int city and I make everybody
Toronto int city and I make everybody
Toronto int city and I make everybody sign an NDA before they come to the
sign an NDA before they come to the
sign an NDA before they come to the first meeting because in the groups we
first meeting because in the groups we
first meeting because in the groups we start talking about sensitive personal
start talking about sensitive personal
start talking about sensitive personal stuff that you wouldn’t want other
stuff that you wouldn’t want other
stuff that you wouldn’t want other people to know or share or leverage the
people to know or share or leverage the
people to know or share or leverage the thing is though again is somebody really
thing is though again is somebody really
thing is though again is somebody really going to sue somebody else who shared an
going to sue somebody else who shared an
going to sue somebody else who shared an idea in the group probably not so it
idea in the group probably not so it
idea in the group probably not so it comes down to bringing the right people
comes down to bringing the right people
comes down to bringing the right people on into the groups that you can trust
on into the groups that you can trust
on into the groups that you can trust and build a relationship with but also
and build a relationship with but also
and build a relationship with but also have that appearance of professionalism
have that appearance of professionalism
have that appearance of professionalism and have it there as an option just in
and have it there as an option just in
and have it there as an option just in case so if you’re really worried about
case so if you’re really worried about
case so if you’re really worried about it then that’s a potential threat you
it then that’s a potential threat you
it then that’s a potential threat you still have to sue them to follow through
still have to sue them to follow through
still have to sue them to follow through on it but it gives you perceived
on it but it gives you perceived
on it but it gives you perceived importance instead of what in reality is
importance instead of what in reality is
importance instead of what in reality is you’re gonna have to sue them and spend
you’re gonna have to sue them and spend
you’re gonna have to sue them and spend a lot of money if they do break it and
a lot of money if they do break it and
a lot of money if they do break it and number three is understanding your
number three is understanding your
number three is understanding your strengths and what I mean by this is I
strengths and what I mean by this is I
strengths and what I mean by this is I agree with the first point where it’s
agree with the first point where it’s
agree with the first point where it’s more about the execution than the idea
more about the execution than the idea
more about the execution than the idea and if you’re the kind of guy where
and if you’re the kind of guy where
and if you’re the kind of guy where people are stealing your ideas and
people are stealing your ideas and
people are stealing your ideas and they’re making a lot of money off it and
they’re making a lot of money off it and
they’re making a lot of money off it and you’re not able to execute right you’re
you’re not able to execute right you’re
you’re not able to execute right you’re more the ideas guy and not the execution
more the ideas guy and not the execution
more the ideas guy and not the execution guy that’s always going to hurt you and
guy that’s always going to hurt you and
guy that’s always going to hurt you and so you have to leverage what you’re
so you have to leverage what you’re
so you have to leverage what you’re really good at and protect yourself so
really good at and protect yourself so
really good at and protect yourself so you can use NDA’s you can use patents if
you can use NDA’s you can use patents if
you can use NDA’s you can use patents if there’s a way to patent your process or
there’s a way to patent your process or
there’s a way to patent your process or your idea somehow and probably more
your idea somehow and probably more
your idea somehow and probably more important is you need to find the right
important is you need to find the right
important is you need to find the right partner
partner
partner you need to find somebody who can
you need to find somebody who can
you need to find somebody who can execute the ideas that you come up with
execute the ideas that you come up with
execute the ideas that you come up with so you come up with the idea take it to
so you come up with the idea take it to
so you come up with the idea take it to for a wish and say here’s something
for a wish and say here’s something
for a wish and say here’s something great that we can work on and then your
great that we can work on and then your
great that we can work on and then your business partner goes and takes that and
business partner goes and takes that and
business partner goes and takes that and runs with it and helps you build
runs with it and helps you build
runs with it and helps you build something successful now finding that
something successful now finding that
something successful now finding that key person is gonna be the really most
key person is gonna be the really most
key person is gonna be the really most important thing for you to do right now
important thing for you to do right now
important thing for you to do right now in your business and until you get there
in your business and until you get there
in your business and until you get there I’d suggest staying really high level
I’d suggest staying really high level
I’d suggest staying really high level you protect yourself by not sharing too
you protect yourself by not sharing too
you protect yourself by not sharing too much you can share high level
much you can share high level
much you can share high level information about what you’re trying to
information about what you’re trying to
information about what you’re trying to do and what you’re trying to build up
do and what you’re trying to build up
do and what you’re trying to build up and hopefully now after some of those
and hopefully now after some of those
and hopefully now after some of those failed relationships your your gut has
failed relationships your your gut has
failed relationships your your gut has been trained a little bit better your BS
been trained a little bit better your BS
been trained a little bit better your BS meter is a little bit higher you’ve
meter is a little bit higher you’ve
meter is a little bit higher you’ve learned through those past experiences
learned through those past experiences
learned through those past experiences and you can start letting somebody in
and you can start letting somebody in
and you can start letting somebody in the circle of trust that you create
the circle of trust that you create
the circle of trust that you create little by little by little until you’d
little by little by little until you’d
little by little by little until you’d like volge
like volge
like volge the whole idea to them so you start very
the whole idea to them so you start very
the whole idea to them so you start very high level don’t share very much
high level don’t share very much
high level don’t share very much information just enough to get them
information just enough to get them
information just enough to get them interested and then slowly as they earn
interested and then slowly as they earn
interested and then slowly as they earn trust you divulge more and more so those
trust you divulge more and more so those
trust you divulge more and more so those are my thoughts I hope that helps
are my thoughts I hope that helps
are my thoughts I hope that helps continue to believe and for those of you
continue to believe and for those of you
continue to believe and for those of you watching I love to know your thoughts if
watching I love to know your thoughts if
watching I love to know your thoughts if you’ve used NDA’s or not if you’re
you’ve used NDA’s or not if you’re
you’ve used NDA’s or not if you’re thinking about it share into the in the
thinking about it share into the in the
thinking about it share into the in the comments below I’m gonna join in that
comments below I’m gonna join in that
comments below I’m gonna join in that discussion and I’d love to hear from you
discussion and I’d love to hear from you
discussion and I’d love to hear from you if you liked this video and you want to
if you liked this video and you want to
if you liked this video and you want to see more don’t forget to subscribe to
see more don’t forget to subscribe to
see more don’t forget to subscribe to the newsletter and the channel thank you
the newsletter and the channel thank you
the newsletter and the channel thank you so much for watching I’ll see you soon
”
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