how to prevent your business idea from being stolen if you’re an entrepreneur
being stolen if you’re an entrepreneur
being stolen if you’re an entrepreneur and you’re trying to sell the big
and you’re trying to sell the big
and you’re trying to sell the big companies a big fear that comes out is
companies a big fear that comes out is
companies a big fear that comes out is what if they steal my idea and try to do
what if they steal my idea and try to do
what if they steal my idea and try to do it themselves how do you overcome that
it themselves how do you overcome that
it themselves how do you overcome that and this is a question that came in
and this is a question that came in
and this is a question that came in recently from one of my youtube viewers
recently from one of my youtube viewers
recently from one of my youtube viewers love you guys
love you guys
love you guys Yaya who wrote in to say I have an idea
Yaya who wrote in to say I have an idea
Yaya who wrote in to say I have an idea as a mechanical part and I want to
as a mechanical part and I want to
as a mechanical part and I want to present it to a big company what does it
present it to a big company what does it
present it to a big company what does it guarantee that the idea will not be
guarantee that the idea will not be
guarantee that the idea will not be stolen okay there’s a few things that
stolen okay there’s a few things that
stolen okay there’s a few things that you can do but your options are also
you can do but your options are also
you can do but your options are also really limited so you got to be careful
really limited so you got to be careful
really limited so you got to be careful here are the things that can help okay
here are the things that can help okay
here are the things that can help okay if you’re presenting to a company and
if you’re presenting to a company and
if you’re presenting to a company and you don’t want your ideas stolen the
you don’t want your ideas stolen the
you don’t want your ideas stolen the first is to have expertise that they
first is to have expertise that they
first is to have expertise that they can’t duplicate okay if you have a team
can’t duplicate okay if you have a team
can’t duplicate okay if you have a team or there’s something with you that
or there’s something with you that
or there’s something with you that cannot be duplicated easily then that’s
cannot be duplicated easily then that’s
cannot be duplicated easily then that’s a competitive advantage right so for
a competitive advantage right so for
a competitive advantage right so for example I’m Evan Carmichael nobody can
example I’m Evan Carmichael nobody can
example I’m Evan Carmichael nobody can be Evan Carmichael you know you can get
be Evan Carmichael you know you can get
be Evan Carmichael you know you can get up and you can get in front of a camera
up and you can get in front of a camera
up and you can get in front of a camera you can try to help entrepreneurs to
you can try to help entrepreneurs to
you can try to help entrepreneurs to videos you can wear the same shirt that
videos you can wear the same shirt that
videos you can wear the same shirt that I’m wearing but you’ll never be Evan
I’m wearing but you’ll never be Evan
I’m wearing but you’ll never be Evan Carmichael so if you’re selling
Carmichael so if you’re selling
Carmichael so if you’re selling something that’s related to you and your
something that’s related to you and your
something that’s related to you and your team then that can’t be ripped off
team then that can’t be ripped off
team then that can’t be ripped off because that’s you and your team the
because that’s you and your team the
because that’s you and your team the second thing is a patent and this is
second thing is a patent and this is
second thing is a patent and this is what’s gonna be important for Yaya who
what’s gonna be important for Yaya who
what’s gonna be important for Yaya who wrote in who has a part that he wants to
wrote in who has a part that he wants to
wrote in who has a part that he wants to sell to a company get a patent get it
sell to a company get a patent get it
sell to a company get a patent get it protected and typically with patents you
protected and typically with patents you
protected and typically with patents you can get a provisional patent which gives
can get a provisional patent which gives
can get a provisional patent which gives you a limited amount of time to grow and
you a limited amount of time to grow and
you a limited amount of time to grow and get the full-blown patent but that is
get the full-blown patent but that is
get the full-blown patent but that is what a company will buy this is from a
what a company will buy this is from a
what a company will buy this is from a guy who went out and I had my first
guy who went out and I had my first
guy who went out and I had my first software company and I sold it to a
software company and I sold it to a
software company and I sold it to a multi-billion dollar company and what
multi-billion dollar company and what
multi-billion dollar company and what helps is having a patent because if you
helps is having a patent because if you
helps is having a patent because if you have a patent they can’t just rip off
have a patent they can’t just rip off
have a patent they can’t just rip off that exact same thing that you did okay
that exact same thing that you did okay
that exact same thing that you did okay the last thing is go get some momentum
the last thing is go get some momentum
the last thing is go get some momentum and get some momentum don’t just sell a
and get some momentum don’t just sell a
and get some momentum don’t just sell a part sell something more than the park
part sell something more than the park
part sell something more than the park and this is what helped me sell my
and this is what helped me sell my
and this is what helped me sell my company this is so important okay I had
company this is so important okay I had
company this is so important okay I had a software company and I was selling my
a software company and I was selling my
a software company and I was selling my business to a company that wanted a
business to a company that wanted a
business to a company that wanted a software arm okay and their
software arm okay and their
software arm okay and their decision-making process
decision-making process
decision-making process either I’m gonna buy this company or I’m
either I’m gonna buy this company or I’m
either I’m gonna buy this company or I’m gonna try to do it myself
gonna try to do it myself
gonna try to do it myself and what they would do themselves
and what they would do themselves
and what they would do themselves wouldn’t be exactly what we did because
wouldn’t be exactly what we did because
wouldn’t be exactly what we did because they don’t know our code but it could be
they don’t know our code but it could be
they don’t know our code but it could be pretty close but it’s gonna take them a
pretty close but it’s gonna take them a
pretty close but it’s gonna take them a year to do it and they’re not gonna have
year to do it and they’re not gonna have
year to do it and they’re not gonna have any customers out of the gate so the
any customers out of the gate so the
any customers out of the gate so the reason to buy from me the reason to buy
reason to buy from me the reason to buy
reason to buy from me the reason to buy my company was that they got the
my company was that they got the
my company was that they got the technology right away and they got a
technology right away and they got a
technology right away and they got a customer base right away and anytime you
customer base right away and anytime you
customer base right away and anytime you pitch in a big company that’s gonna be
pitch in a big company that’s gonna be
pitch in a big company that’s gonna be the decision making process they go to
the decision making process they go to
the decision making process they go to if they love the idea they’re gonna
if they love the idea they’re gonna
if they love the idea they’re gonna think they’re gonna think can I rip this
think they’re gonna think can I rip this
think they’re gonna think can I rip this off can we do it ourselves if there’s no
off can we do it ourselves if there’s no
off can we do it ourselves if there’s no patent to protect it or if the risk can
patent to protect it or if the risk can
patent to protect it or if the risk can we find another way around it
we find another way around it
we find another way around it how long and how much money is it gonna
how long and how much money is it gonna
how long and how much money is it gonna take me to do it myself instead of
take me to do it myself instead of
take me to do it myself instead of paying you that’s what they’re all gonna
paying you that’s what they’re all gonna
paying you that’s what they’re all gonna think and so the way around that is to
think and so the way around that is to
think and so the way around that is to have some kind of momentum with it
have some kind of momentum with it
have some kind of momentum with it because you want them to think it’s
because you want them to think it’s
because you want them to think it’s gonna take them years to do it and cost
gonna take them years to do it and cost
gonna take them years to do it and cost them a lot of money and it’s way cheaper
them a lot of money and it’s way cheaper
them a lot of money and it’s way cheaper to get the market by hiring you or by
to get the market by hiring you or by
to get the market by hiring you or by buying your company so if you want to
buying your company so if you want to
buying your company so if you want to prevent your idea from getting stolen
prevent your idea from getting stolen
prevent your idea from getting stolen first have something unique to you
first have something unique to you
first have something unique to you second get some kind of patent on it so
second get some kind of patent on it so
second get some kind of patent on it so they can’t just rip it off and three
they can’t just rip it off and three
they can’t just rip it off and three build some momentum to make the decision
build some momentum to make the decision
build some momentum to make the decision harder for them to say I’m gonna do this
harder for them to say I’m gonna do this
harder for them to say I’m gonna do this myself because it’s gonna take them more
myself because it’s gonna take them more
myself because it’s gonna take them more time and more money than by just
time and more money than by just
time and more money than by just acquiring your company right away out of
acquiring your company right away out of
acquiring your company right away out of the gate I know it’s a hard process and
the gate I know it’s a hard process and
the gate I know it’s a hard process and I know it’s it’s scary and I knew when I
I know it’s it’s scary and I knew when I
I know it’s it’s scary and I knew when I was selling my company that by exposing
was selling my company that by exposing
was selling my company that by exposing what we did they would potentially be
what we did they would potentially be
what we did they would potentially be thinking about ripping off our software
thinking about ripping off our software
thinking about ripping off our software and they were all the companies are
and they were all the companies are
and they were all the companies are gonna think that so it is scary but if
gonna think that so it is scary but if
gonna think that so it is scary but if you have enough momentum behind you and
you have enough momentum behind you and
you have enough momentum behind you and makes the decision easier to say let’s
makes the decision easier to say let’s
makes the decision easier to say let’s acquire them instead of let’s compete
acquire them instead of let’s compete
acquire them instead of let’s compete with them so good luck and believe
with them so good luck and believe
with them so good luck and believe for those of you watching like the video
for those of you watching like the video
for those of you watching like the video please give it a thumbs up below let me
please give it a thumbs up below let me
please give it a thumbs up below let me know what you think to leave a comment
know what you think to leave a comment
know what you think to leave a comment you have a question put it below you can
you have a question put it below you can
you have a question put it below you can subscribe above and click on my face you
subscribe above and click on my face you
subscribe above and click on my face you can subscribe to the channel thank you
can subscribe to the channel thank you
can subscribe to the channel thank you so much guys and I’ll see you soon
”
Be First to Comment