Ownership is everything
It may be that you want investors to take you seriously. It may be that you want companies that might potentially partner with you on this idea to take you seriously. It may be that you want a company that could potentially license your idea and pay you a royalty to take you seriously. But basically, you don’t want people to slam doors in your face. You want people to open the door, let you in, and listen to what you have to say. And hopefully, together you’ll work out some type of arrangement that works with your goals for your idea.
How do you make sure that these people and these entities take you seriously? The secret is actually really simple: it’s ownership.
The thing that gets people to take you seriously—to want to form a joint venture with you, to want to license your idea or invest in your idea and in your company—is what you own. So if you want to be taken seriously by investors, by companies, or by people who may want to partner with you and work with you, it’s all about having ownership. And the first step toward getting ownership is to figure out what about your idea you can actually own.
You need to really find out what you have that can result in proprietary rights—that can result in intellectual property (IP) rights—in your idea. Is it something that can be patented? Or, is it a brand that can be established? What about your idea might give you that ‘ownership edge’? Because if you don’t have ownership, you’ll find that a lot more doors are slammed in your face than are opened for you.