VentureRate

The ineffable Alex Capecelatro is the brain behind VentureRate, and here’s a wonderful post from his blog.  This should give you a good idea about how VentureRate works…

Yes, I believe in transparency.  I believe in people like Aaron Patzer, CEO and founder of Mint, who openly shares every detail of his company.  I believe in people like Tony Hsieh, CEO of Zappos, who has been called the “See-Through CEO” for an angelic paradigm in openness.  I’ve been amongst entrepreneurs for much of my life, and I’ve taken note of the truly successful ones.  Are they the ones who force an NDA down your throat?  Are they the ones who tell you that they’re going to change the world, but never discuss their motive?  NO.  Great entrepreneurs believe in transparency and in building their product around the pains, problems, and concerns of their customers.

And for this reason, VentureRate was born.  The goal of VentureRate is to give entrepreneurs a platform to share their ideas and to get feedback.  In today’s ultra-connected world, why not leverage the direct and immediate feedback potential from other entrepreneurs, potential customers, and seasoned investors?  These people have been around the block before, and are willing to help make your product even better!  What’s more?  They are doing it for free!

But what if someone steals my idea?  Good question.  You definitely need to understand the risks of putting your ideas out there.  Here’s a list of some of the consequences you might realize by posting your ideas to VentureRate:

1. You’ll reach potential customers.
2. You’ll get the attention of investors.
3. You’ll get constructive feedback on your idea.
4. You’ll be informed of competition and potential issues.
5. You’ll reach other entrepreneurs and possibly partner.
6. You’ll perfect your pitch.
7. You’ll drive traffic to your site and/or product.
8. You’ll reach other entrepreneurs possibly looking to join your team.
9. You’ll join a community of like-minded self starters.
10. You’ll find resources you never knew existed.

In all seriousness, YES it is possible that someone will steal your idea, but it is very unlikely.  Entrepreneurship is about passion, and most people lack the passion to work on YOUR IDEAS.  In addition, it’s the execution, not the idea, that makes for a successful startup.  Posting an idea tells the what, not the how, of your ingenious idea.  As a new startup, your problem is going to be getting eyeballs, and each one helps.

But don’t take my opinion alone.  Check this post, and this, and this too, all discussing the benefits of sharing your idea.

So join VentureRate – a place for entrepreneurs to share their ideas and rate other’s!

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