Entrepreneurs are often afraid that their idea will be stolen if they tell anyone about it. They hope to prototype their idea before they tell anyone. I was very protective of my first idea, but the first person I shared the idea with was able to tell me about two competitors they had come across that I wasn’t aware of. The second person I told was able to connect me up with someone who was able to help me out with parts of the project.
Two startup failures later, I now know three important things about sharing your idea:
- It is very difficult to get others excited about your idea so much that they’d want to work on it. If you could, you’d be able to get great co-founders onboard.
- You have more to gain than to lose when you share your idea. People always have great feedback and information.
- When you come up with an idea, there are probably 10 others already working on it (Guy Kawasaki). So what, if one more starts working on it?
So don’t be afraid to tell your friends or people you meet about your idea, because chances are they are the key to your success.
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