Spectacular Crowdfunding Fails & Their Impact On Entrepreneurship
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Spectacular Crowdfunding Fails & Their Impact On Entrepreneurship

Why Nobody Cares About Your Great Idea

A wannabe entrepreneur starts chatting to a real entrepreneur:

“I have an awesome idea for an app that will disrupt…”

“Wait. Do you have competent designers, developers, funding?”

“Well, not yet, but…”

“So what you meant to say is that you have nothing?”

This admittedly corny joke illustrates another problem: On their own, ideas are worthless. However, ideas backed up by hard work, research, and a team of competent people are what keeps the industry going.

Investors don’t care about your awesome idea and never will. Once you start executing your idea and get as far as you can on your own, people may take notice. Investors want to see dedication and confidence. They want to see prototypes, specs, business plans, research; not overproduced videos and promises. If an individual is unwilling or incapable of making the first steps on their own, if they can’t prove they believe in their vision and have the know-how to turn it into reality, then no amount of funding is going to help.

Serious investors don’t just want to see what people hope to do; they want to see what they did before they approached them.

Why not grant the same courtesy to crowdfunding backers?

Peace 2 Toptal