Brandon Boynton is a current student at IUPUI and a serial entrepreneur.
By Brandon Boynton, co-founder and CEO, Vemity
Anyone who works in software — especially in mobile apps — will constantly hear, “Oh! I have an idea for an app/website! You build it, and we’ll split the profits 50/50!”
First, ignoring the fact that most people think simply coming up with an idea merits them at least 50 percent of a company, said idea is usually quite terrible. I am always polite and hear them out, and then I lightly explain to them the flaws in their startup idea.
Oftentimes, the flaws I have to explain to them are outrageous, like: “That’s already been done” or “That’s not even possible with current technology.” The seemingly good ideas that filter through the first few questions may be viable as small businesses, but often all have the same issue.
Ask yourself … is my idea scalable?