Aspiring Nigerian tech founders, Polish your ideas by sharing them.
My idea is so unique that I need an NDA, Patent, & a pound of flesh to protect it.
Nigeria’s tech ecosystem is still in its infancy when compared to more established ones. Our problems in the country extends from building non-existent infrastructure. We also tend to have limited resources accessible to entrepreneurs that feel strongly about solving challenges. However, I believe we seem to make the same mistakes over and over because we don’t share our success and failures in our attempt to build our dreams.
Sharing saves you money
If someone unfortunate with an idea, shares their ordeal, we all can learn from that and save ourselves the resources from making the same mistake. This will be good for our ecosystem because I strongly believe it gives us strength as a unit.
If you want to go fast go alone, if you want to go far go with people
Sharing sharpens your ideas
You: if I share my idea they would steal it
Me: what’s stops them from stealing it when you launch it, if you ever launch it?
This fake sense of security, that if you share your idea someone else will still ut, does my head in. Sharing your idea is about the best thing you can do before you even start your business. Tell as many people as possible. For all you know they might even know an existing solution that does exactly the same thing you are suggesting and you can learn from that. Moreso, your idea needs to be critiqued by as many people as you can find, because then you know if your idea is really a solution to a problem or a solution in search of a problem.
Sharing let’s you know if your idea is really a solution to a problem or a solution in search of a problem
Sharing broadens your network
When you share people that are interested introduce you to networks that can help. You also meet people working in the industry you wish to create the solution and gain access to data you wouldn’t have had if you keep your ideas to yourself.
Myth of first mover advantage
Yes, there are some advantages with being the first mover. However the Nigerian market is such that for many businesses, you still need to educate the customer. As a first mover this is very expensive and the lack of brand loyalty by the customers makes a lock-in or switching cost easy to set up. This then makes new entrants stand an amazing chance to ride in the market once the customers are educated about the solutions being offered. So don’t worry about people copying you and rushing to the market. The upsides from sharing your ideas supercedes the downside in my opinion.
So please don’t be scared to share your ideas, embrace other contracts thoughts to your ideas. They will help refine and sharpen it. Reducing chances of failure.