Touchy about Idea? Don’t be!

 

An Idea needs your spark to shine!

An Idea needs your spark to shine!

Most young aspiring entrepreneurs I’ve met, have always had this touch of secrecy about their idea itself thinking that they’ll lose out if someone else picked up and executed it. I don’t blame them because I was like that myself for a long time, but it doesn’t work that way!

It’s actually a mistake to hold too tightly to your idea and not share it even in situations where you should be sharing it. If someone else can take your idea, and execute it better than you can, then there’s anyway no reason why you should be doing it anyway. Having an idea is not enough. Actually, it’s nothing, till you start taking steps on evaluating, testing, validating and implementing it.

Typically VCs, or senior entrepreneurs wouldn’t steal your idea just by the mention of it and exclude you from the fortunes they make from your idea. If they see you as a competent and worthwhile person, they’d rather get you onboard and back you. So in such situations, the merit would not remain just with the idea, but with you along with the idea.

If someone else has more resources, to churn out your dream product faster than you can, make it better/cheaper/simpler than you can, then he’ll do so someday anyway, even if you have already started the business. And if that be the case, no start-ups would happen, because it would seem like a Google can do virtually anything thinkable on the internet. But it doesn’t happen that way. If you come up with something really worthwhile, a Google would rather absorb you, than do it again.

Google is doing SMS channels, doesn’t mean an SMSGupshup will go out of business. In fact, it’s funded now and likely to stick around as a big player. And the sea has space for different fishes to swim. Think about how large your market is, and if there’s scope for multiple players.

And typically, giants have enough in their own pipelines to really bother with your idea, dedicate resources to it and try to drive you out of business. And then you’re not competing with a company per se, but the different layers of management, and managers are often only too happy with a sure shot 30% quarterly growth, rather than risking this and spending time/resources on the chance of 100%. Perhaps, why large organizations find it somewhat difficult to experiment!

Be cautious however, not all of this would apply to new age technology companies, wanting to live on the edge of innovation.

Advertisements