Will someone steal my STARTUP IDEA?
April 9, 2013 Leave a comment
We hear this question from many people – especially when asked to pitch the idea, be active in a community etc. I don’t think it is bad to ask this. However, it is important to think this through.
1. Just like you, there are many more with Ideas.
If you have any idea now, there is always a chance that the same occurred to someone 5 years ago (may be not 5 year… 😛 .. ). Let’s be frank here, ideas are not rare
2. Execution Matters A LOT
People who come up with an idea and who are crazy enough to bet on it and start executing truly believe in their idea. And believing in it is one of the most important things. Imagine somebody would hear about an idea but just think ‘cool, let’s make some money out of it’ and he would try to copy it. He would miss the essential, his driving force would be moneymaking, not the true believe in the idea, which makes a big difference.
3. A Startup =~ Team
More often than not, the Startup is not about the idea, not about the money – but the team. Trust me, you will change your direction (even before you know it); your ideas will seem foolish. None can steal your Startup team. Right. So don’t worry about your idea too (which you are going to change.. 😛 ..)
4. Traction is the best protection you can get
Don’t try to go behind stupid Intellectual property rights or anything similar to save your ‘precious idea’. If you are so serious about it, hit the market as soon as possible.
Sideline Note: And yeah, no product is ready until it is shipped.
5. Idea, Execution, team – but everything boils down to how you SELL
You know how good your idea is, but can you convince someone how good it is, make somebody bet on it. If yes, then you are the leader. No worries go ahead with your idea, execute it and sell it. J
Do tell people about your Startup idea
Actually telling people about your idea is a very important thing to do. Only in this way you’ll be able to start collecting feedback early and shape your idea into a Startup success. It is very crucial validate your idea before you build your product. And feedback is so important, just remember who came up with the hash tags on Twitter: the Twitter users.