Dear Entrepreneur,
If you have an amazing business idea, don’t be afraid to share it with others for feedback. Nobody is out to steal your idea, and if they do steal it, they’re not going to execute it the same way you will execute it.
And guess what? Execution is everything.
If you are afraid that someone will steal your business idea, then don’t even bother launching it, because launching it to the public is the best way to get it stolen.
So no matter what you do, it will be stolen, right?
Someone once said to me, “Chidi, I don’t want to share my business idea with anyone until it’s launched, because someone could steal it and launch it before I do. I want to be the first in the market. First-mover advantage.”
Well, I disagree.
There are so many cases where an industry giant was overthrown, even after being the first to enter and dominate the market. MySpace, Yahoo!, Blockbuster, Kodak, Nokia… The list goes on. Being the first in the market isn’t the best bet to getting and remaining at the top.
Constant innovation is.
So don’t bother about someone stealing your business idea. Rather, bother about how to enter the market, dominate it, and keep your position. When you have an idea, tell everyone.
Tell everybody!
This is the best way to help you vet your business idea, and know if it’s worthwhile to execute.
With love,
Chidi