Startups · Fundraising

If you have 2 start up ideas, can you run with both or is it best to just concentrate on 1?

Anonymous

October 5th, 2016

And if you run with 2, would this deter investors from investing in 1 of your businesses?  

Donavon Urfalian A.I. Engineer / Entrepreneur / Founder & CEO @ Umazed / Kodo Startups

October 5th, 2016

It depends on what stage you are in both of them. If you are at the idea stage, then you have to focus on one. There are people with talents and work ethics then they can handle two startups, but usually one is already launched with traction. Again, if they are both early stage, then chase after one rabbit, otherwise if you chase two, one will get away. I'm sure you get my metaphor.

Wade Eyerly CEO, co-founder at Beacon

October 5th, 2016

Concentrate. It often makes sense to build a business, in its earliest stages, in the background of a day-job, or educational activity. That said, once you "dive in" a startup will be all consuming. One of the most talented, intelligent human beings I know tried to do two startups at once and as a result they both failed. I'd focus. There's an old adage in football - if you have two quarterbacks you have none. Investors will feel the same way. My advice: Focus. Focus. Focus.

Vinuth Tulasi Member of Technical Staff at Stealth Mode Storage Startup

October 5th, 2016

Why do you want to start both at once?
Is it the fear of one of them getting outdated if you start late? or is it that some one else can copy or come up with this idea even before you could start?

If any of this, then I would say, file a provisional patent for one of them or both and concentrate working on one single idea.

The other option is see how you can combine both the ideas into one single mashed up idea.

Dave Scotese Freelance Consultant among Private Entrepreneurs

October 8th, 2016

I agree with the consensus here, that you don't want to divide your attention.  However, sometimes the world divides it for you...

I chose to answer this question because there are two major efforts in my life right now, and I am concentrating on both.  I didn't choose either of them, but rather they are being imposed on me.  Fortunately, there is some overlap (most of which is the learning curve for understanding law and using it to protect yourself from the depredations of the state), so some of what I do helps on both fronts.

FounderDating is a new thing for me, but it fits right in with my pattern of commenting on the Internet to share my knowledge and learn from others.  I noticed that the two projects I mention above have fatigued me, slowing down my participation in public discussions, so joining this conversation seemed like a good way to spit in the face of adversity.

Michael Leeds CEO & Founder

October 5th, 2016

Do one thing.

Arshdeep Baweja Senior Engineer Mahle filter systems

October 5th, 2016

Concentrate on one

Sidney Sclar SID the SECURITY PRO at sidthesecuritypro.com

October 5th, 2016

One product at a time. Clients have trouble making a decision with one product, let alone given choices.

Dane Madsen Chief Operating Officer at Comivo, LLC

October 5th, 2016

Yes - even when you look at Musk or Dorsey as examples of running multiple startups, this was not the intent ( and Musk used is own capital). An outside investor expects you to be focused on the business they fund. It is not uncommon to require a founder to disclose all potential conflicts including other interests. Dane Madsen Dane@DaneMadsen.com 206.900.5852 Mobile Sent from my mobile device. Forgive typographical and grammatical errors.

Rob G

October 5th, 2016

ask Jack Dorsey... or Elon Musk...  but if you are a first timer then by the time you get to pitching for funding you should be focused 100% on just 1. 

Martin Omansky Independent Venture Capital & Private Equity Professional

October 5th, 2016

The usual answer is focus on one idea and show success. Also , it depends on whether the ideas are related. Sometimes, multiple applications of the same breakthrough technology can be an advantage. Best policy, however, is one idea at a time. Just make sure the idea is a good one. Sent from my iPhone