“I have a great business idea, but I am scared to share. I fear, someone may steal my idea,” he told.
- Running a travel agency, targeting Indian corporate crowds. Make a honeymoon package, vacation package, reach out to big Indian companies from Bangalore and Mumbai, etc etc.
- Running an e-commerce site, purely brand-oriented, targeting upper middle class and upper class.
- Running a cafe, which is more like entrepreneur friendly and also with library and boutiques.
- Running a trading company, same like share market but here, will be trading FMG, where consumers make an order and market delivers and we earn by taking brokerage kind of service charge.
- Running a school, that teaches youths on various practical aspects of life, provides counselling and consultancy… and they can join school at their convenience,
Bla, bla, bla, bla.
And I told him, I am not scared of sharing my business ideas. “You know why?” I asked him. “Why?” he asked back. I told him, “because idea alone is BULLSHIT.” It’s like opinion, everyone has one.
“Ideas don’t mean shit… Execution is the game” Gary Vaynerchuk
What is business idea?
Business idea is nothing but an idea that is constructed when you see a problem and figure out a solution and way to make money in this process.
Let me tell you this.
The other day, I was in The Bakery Cafe. A customer was trying to call waiter and as you may know, waiters in Bakery Cafe are deaf (ya, only deaf people are hired as waiter), no waiter could hear the call. The customer got so pissed off, that he just left the place. Then and there, an idea popped up in my head. How nice it would be if there in the table, it had button to press and light would blink in reception or somewhere appropriate and waiter would know from where the call is coming — something like in Airplane. I was thinking, “there are so many branches of The Bakery Cafe and proposing the idea and installing the feature in all those branches can be a great idea.” I thought of then and there. You see? a business idea was born there itself. There are billions of humans constantly coming across many problems and just like me, they constantly come up with ideas to solve those problems.
So basically, construction of business idea is very ordinary thing that almost all humans are capable of. Every mindblowing idea that you think you have, is also an idea of someone, somewhere. The ideas that I have listed above surely are also ideas of many.
So, here is the answer on,
“Should I fear sharing my business idea with others?”
I just shared my various business ideas above. Now, what you gonna do? You think you can just steal my idea and turn into a business? It’s not that easy. Idea is nothing but a thought. Now, that simple thought has to be turned into a working idea, and then comes building a team, and then engineering part, and then comes building a prototype and then comes marketing of the product, etc before you finally make money out of it. This whole process gonna take if nothing also 2-3 years (provided you have money and needed spirit).
Idea comes and goes. Most of the people, never work on the idea in first place. Those who do, that too in large number give up in middle of the trial. Barely 1% succeed to take it to money generating mode. What keeps one to keep pushing until the end is the spirit, is the needed fund, is the needed skills, etc. It’s easy to steal someone’s idea but it’s no way easy to execute the idea. Another thing one needs to understand is, no idea remains as it was in conception time. Idea evolves as you start working on the idea. Facebook today is quite different than how it was in the initial days.
That’s why, I say every idea is great idea if is worked on. Instead of fearing to share ideas, I rather say, DO SHARE. This in fact will help you to have broader perspectives towards your ideas, through input of various minds. You being the father of your idea, you are prone to be optimism biased. By sharing your business idea, you are letting your idea to be refined.
Long thing short, I have hundreds of business ideas, that I truly care and value, and wish to turn into a reality, turn into a tangible thing, that can be touched and shown, and make money from, but I still can’t execute them due to various reasons. To think, by sharing those ideas, someone may steal and become rich is just a paranoia. Real world does not work that way. If you find someone working on your idea, probably you found someone that too have come up with your kind of business idea.
So, fear not. Let your ideas be heard and refined. Ultimately, it’s your idea, and only you can execute it or somebody who too has similar idea. End of the day, winner is the one that doesn’t give up, until not crosses the finish line. As they say perseverance is mother of success.