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Should I Fear Sharing My Business Idea With Others?

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“I have a great business idea, but I am scared to share.  I fear, someone may steal my idea,” he told.

I said to him, “I too have some great business ideas.”  Some of my business ideas are:

  •  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.

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Business

Nepal makes major jump in ‘Ease of Doing Business’ Ranking 2020

The Doing Business project by World Bank provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. 

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Nepal jumped 16 points to the 94th position on the World Bank’s ease of doing business ranking for 2020, with DB score of 63.2.

In 2019, Nepal was positioned at 110th rank which was a slip from its 105th  position in 2018.

The Doing Business project by World Bank provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.  Doing Business captures several important dimensions of the regulatory environment as it applies to local firms. It provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.  Doing Business also measures features of employing workers.



Ranking of doing business topics

Starting a business:

This topic measures the number of procedures, time, cost and paid-in minimum capital requirement for a small- to medium-sized limited liability company to start up and formally operate in each economy’s largest business city.  Nepal ranked 135 among 190 economies in this topic.  

Dealing with Construction Permits

This topic tracks the procedures, time and cost to build a warehouse—including obtaining necessary the licenses and permits, submitting all required notifications, requesting and receiving all necessary inspections and obtaining utility connections. In addition, the Dealing with Construction Permits indicator measures the building quality control index, evaluating the quality of building regulations, the strength of quality control and safety mechanisms, liability and insurance regimes, and professional certification requirements.  Nepal ranked 107 among 190 economies in this topic.  

Getting electricity

The topic measures ease of getting electricity in Nepal by a business firm or warehouse if it has to apply for a new one.  Nepal ranked 135 among 190 economies in this topic.

Registering property

This topic examines the steps, time and cost involved in registering property, assuming a standardized case of an entrepreneur who wants to purchase land and a building that is already registered and free of title dispute. In addition, the topic also measures the quality of the land administration system in each economy.  Nepal ranked 97 in this topic out of 190 economies.

Getting credit

This topic explores two sets of issues—the strength of credit reporting systems and the effectiveness of collateral and bankruptcy laws in facilitating lending.  Nepal has made significant improvement in this front and thus is ranked at 37th position out of 190 economies.

Protecting minority investors

This topic measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain as well as shareholder rights, governance safeguards and corporate transparency requirements that reduce the risk of abuse.  Nepal ranked 79 among 190 economies in this topic.  

Paying taxes

This topic records the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as the administrative burden of paying taxes and contributions and complying with post-filing procedures (VAT refund and tax audit).  Nepal is quite behind when it comes to ease of paying taxes ranking at 175th position out of 190 economies.

Trading across borders

The topic records the time and cost associated with the logistical process of exporting and importing goods. It also measures the time and cost (excluding tariffs) associated with three sets of procedures—documentary compliance, border compliance and domestic transport—within the overall process of exporting or importing a shipment of goods.  Nepal ranked 60 in this topic.

Enforcing contracts

The enforcing contracts indicator measures the time and cost for resolving a commercial dispute through a local first-instance court, and the quality of judicial processes index, evaluating whether each economy has adopted a series of good practices that promote quality and efficiency in the court system.  Nepal ranked 151 out of 190 economies in this topic.

Resolving insolvency

It deals with the time, cost and outcome of insolvency proceedings involving domestic legal entities.  Nepal ranked 87.


Nepal’s Position in South Asia

Nepal ranks third in South Asia, India being first.

In overall, India jumped 14 places to rank 63.  It also secured its position in Top-10 Improvers.  China ranked 31

Also know this

Top 10 countries on Ease of Doing Business

  1.  New Zealand.
  2.  Singapore.
  3.  Hong Kong China
  4.  Denmark
  5.  Korea Republic
  6.  United States
  7.  Georgia
  8.  United Kingdom
  9.  Norway
  10.  Sweden

Worst 10 countries on Ease of Doing Business

  1.  Somalia
  2.  Eritrea
  3. Venezuela
  4. Yemen
  5. Libya
  6. South Sudan
  7. Central African Republic
  8. Congo
  9. Chad
  10. Timor-Leste

Lastly,

In 2014, Nepal ranked 94th position but then it went on slipping from the position to 110th, until this point where it has bounced back to 94th position.  However, Nepal could not make to Top-20 Improvers list, which is made based on reforms implemented in easing doing business, which should be of concern.

For complete report, click here

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Business

Tell us about your business

Tell us about your business/company and we will turn them into an article for Internet users.

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Hello all business owners and entrepreneurs out there,

We are pleased to announce that we are creating company profiles and publishing them through our website, so that our readers and audience get to know about your company and your business in much simplistic way.  We also believe that with right SEO and web management, those information will be reaching to many internet users, which shall benefit you in a longer run.

Our plan

The provided information will be compiled to turn into an informative article as a company profile and publish them through this website, so that whenever someone wants to learn about your company by searching through Search Engine or by directly on our website, they get to learn basics about your company with an ease.

Why we are doing this

  1.  We are mission-based company, in a mission of “creating an informed society.”  It’s part of our mission to create information about companies and businesses from Nepal and make the information easily accessible to people on internet.
  2.  Your company’s basic background information will be handy for us when we plan to interview or cover your business.
  3.  Our mission is also “to promote local businesses and activities.

Where to start

We have embedded a google form in this article itself.  You either can fill it up directly here itself or you can CLICK HERE to open in separate browser and fill it up.  We expect all questions be answered since those answers are dots to draw a complete picture of your company, skipping which may give an incomplete looks to your company profile.

Once you have submitted the form, we will go through it and turn it into an article as your company profile, which will be notified to you through email or phone.

It’s indeed is a great opportunity for you and your company.  Hope you will grab it.



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Being an entrepreneur in Nepal

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Being an entrepreneur isn’t easy in a country where you are judged by money you make and not the impact you create.  Your idea, your dream, your ambition are considered as threat than opportunity to collaborate for greater good.  It’s not easy to be an entrepreneur in a country where investors are interested to invest only if they can hijack your business.  It’s definitely not easy where rents are nothing less than 20,000 per month. And, it’s definitely not easy where no one is interested to work for you for anything less than salary s/he would get abroad. Needless to talk about taxes and policy hurdles.



You are celebrated only on Facebook.  In reality, you are secretly hated for your success and growth and popularity. It’s not easy to be an entrepreneur in a country with leg-pulling culture.

Sometimes, it feels like entrepreneurship is just a new high-school band trend, where everyone wants to become next Metallica, with a dream to make a world tour, but in reality you are judged for your long hair, tattoo; no family support, costly recording, and no one to buy your album and sooner or later, you be like:

Me and some guys from school
Had a band and we tried real hard
Jimmy quit, Jody got married
I should’ve known we’d never get far
Summer of 69

Despite all that, there are some guys out there not giving up on their entrepreneurial idea.  Finding a way out to resist the temptation of good paying job, home or abroad, and keep trying to make fortune here in one of the poorest countries itself.  They don’t remember themselves when was the last time they took the salary but still never fail to pay salary on time to colleagues working for him/her.  Constant pressure from family and society to make good money but still not taking the shortcut route to money compromising the impact and ethics.  Such guys are real entrepreneur to me.  They exist.

I bestow my love and respect and support to them. You guys are in making of Bryan Adams despite living Summer of 69.

May you not give up.




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