At TCNewTech, we are constantly asking entrepreneurs to share their startups or innovative ideas with our audience but often the response is, “we aren’t ready”. We asked Ashley Sloat of Aurora Consulting when is a good time for someone to share their ideas?
Ashley gave a Quick Minute Tip on when to share your innovation during the September 2021 TCNewTech Pitch & Networking Event. She knows her stuff! Ashley is a USPTO-registered patent practitioner who specializes in the development and management of patent portfolios for startup ventures and emerging growth companies.
Knowing When to Share Your Idea and When to Shush
You’ve had your stroke of genius. Your next inclination is to immediately do one of two things: 1) Yell it from the rooftops and share it with anyone that will listen or 2) keep it close to the vest, not tell anyone, and guard your idea like it’s the One Ring. Both instincts are usually wrong. Knowing when to share your idea and when to shush is a vital distinction on the journey to innovate successfully.
As we’ll discuss more, sharing too much and too soon can have detrimental effects on your ability to later protect your idea. Conversely, keeping your idea a secret may also not be an option depending on your funding goals. So how do you strike the balance? How do you share enough to get the invaluable gift of feedback and give investors the details they need to evaluate deals while protecting your ideas from being stolen, but do so in a way that is economically practical pre-investment and pre-revenue?