Should I get a co founder I am looking to come on board to sign a nda before i share my pitch deck
I entirely agree with David. Your pitch deck should always be something you're comfortable sharing without an NDA. After all, it's your advertisement, not something you want to be secret. If you have financial information in the pitch, reduce it to final numbers, not how you get there. Make details things that come out in follow-up questions. People broadly don't steal ideas. They're only interested in ideas that have successful execution so they don't have to figure out how to make the idea work. Your pitch deck is not your how, it's your what, why, when, and where. Your business plan is your how.
Simple answer - they won't. It leaves them with a hostage to fortune in their future activities, and their most realistic expectation is that their talks with you won't work out.
If you find someone who will, sell him land in Louisiana instead.
You need to have a pitch deck that you are comfortable sharing without an NDA. Personally, I will not sign an NDA until I am at an advanced stage with a company. Because the reality for me, is there have been too many times an entrepreneur tells me he/she has a brilliant never been done idea...when in reality there are a dozen+ already in existence. So, personally, I will not expose myself to the risk of an NDA. NDA's are like all contracts, they are indeed enforceable if you are willing to pay the legal fees and have the needed legal involvement.
Sales 101 often ignores business competence and planning. If you have a well thought out, competent business plan and team, and a product or service you have researched and illustrated a need and want for in the market...the sales 101 becomes far less important, and you actually will stand out above all those who took sales 101 and mimic those techniques that too many people use. You are right to be concerned, and there can be more than one all encompassing pitch deck. Be smart about it and balance your approach.
A pitch is exactly that. A pitch is all sizzle, and maybe you walk the steak through the room so they can smell it. You’re not giving anyone sensitive details about the company until they’ve committed to giving you something. That’s how you close the deal. Sales 101
The problem I’ve noted is that impatience and lack of confidence screws most people. The next most common issue is not understanding how cognitive dissonance affects people’s decisions. People lie to themselves most of all.
You can sell anything to anyone if you know, not think, but actually know you have a winner. The challenge is identifying why they don’t see what you do. Everyone in business is a gambler playing odds, or pressing their luck.
Business is an art, not a science. It’s based on observations and intuition. Every hand is a winner and a loser depending entirely on how the cards are played. The investors are playing their hands conservativly, it’s your job to bait them and close them. Not show your hand. That’s how business works, you bait and close one fish after the next. Occasionally you get a few whales.
Nobody is as passionate about your idea because you have done the research and know ins and out of the problem you are trying to solve.
Even if someone tries to copy your idea, they won't execute it they way you would since you know your potential customers more than anyone else.
Moreover, don't share your secret sauce in your pitch and you will be good :)
Yes, but keep in mind that an NDA is mostly a deterrent measure, it is not easily enforceable and expensive to pursue as a legal matter when things go wrong.
You should really know and trust the person, understand their strengths, limitations, and motivation, before you make them your co-founder.