I don’t hear many instances of people claiming that their idea has been stolen, but I do hear frequently from entrepreneurs-to-be who are fearful of talking about their idea through concern of it being stolen.
The importance of having a Technology Strategy for your startup cannot be underestimated. To choose wrongly could prove to be an enormously costly mistake that only becomes apparent many months later. Before a line of code is written, having the right Technology Strategy in place will save you time and money.
A question any startup founder should ask themselves at the earliest opportunity is whether their idea is defensible. Put simply, this means how protected is your business (or proposed business) from competition?
A familiar problem that I frequently encounter when engaging with very early stage startups is the lack of a product, and a lack of a technical co-founder who can also build that product.
If you’ve ever had a smart tech idea and the only thing holding you back was a failure to find someone who shared your vision and build the product, then you are not alone.
The Lean Startup is a legendary book in technology startup circles and not without good reason. The methods discussed by its author, Eric Ries have created a blueprint that many budding entrepreneurs make avid use of in their quest for success. Indeed, many refer to it as THE Startup Bible. But is it more myth than method?
On my travels I talk with many startups and occasionally come across a few that are so protective of what they are doing, they are unwilling to even tell you about it – other than how great it will be and how it will change the world! This is often touted as ‘stealth mode’, keep the product under wraps until you are good to go and launch with a bang. Unfortunately this approach is often damaging, to the point where it could be fatal.
As an early stage startup founder, whether you are looking to raise investment, do some bootstrapping, or a bit of both, there are three questions you need to evaluate before you go any further. Failure to do so could cost you a lot of unnecessary time, money and effort.