I took a pitch a few weeks ago from an entrepreneur who came over the transom. These things do get read and every so often I’ll reply. I don’t know what about this pitch woke me up because it wasn’t particularly amazing in any respect but for whatever reason I pinged the founder back. Flash forward a few days.
The product being pitched was not revolutionary, it was not protectable and while it was working for a few beta customers, in my opinion, it was not far enough along for us to move forward. The founder had yet to name the company but was going to pick a name that evening and incorporate.
The morning after the pitch I very politely passed on the company but in doing so I asked if the founder had settled on a name. The founder replied that since I would not being going forward with an investment in his company he was going to keep the name confidential.
Good thinking dude. You definitely don’t want me stealing your company’s EXTREMELY valuable name. I mean you explained everything about your product the day before but lets make sure to keep that name secret. This way I wont be able to follow your progress, won’t be able to experience the exquisite pain of missing out on a win or gasp won’t be able to offer you an investment in the future. You win. Good move.
(I realize the irony in the title)