Sharing is Scaring — Why You Shouldn’t Keep Your Ideas to Yourself
Why Keeping Your Ideas to Yourself is a Bad Idea: The Surprising Benefits of Sharing Your Business Concepts
At the end of the day, it’s all about who is taking charge of the concept. And who is willing to run with the concept far enough to the point whereby the time someone thinks to “steal” your idea, your idea already exists out in the world.
It’s also not always about who gets to market first, but who is the “leading lagger.”
Usually, you want someone to come in first and test the viability of the marketplace while you learn how to do it better. Friendster came before Facebook — did Facebook rip off Friendster?
It’s not those who invent the industry, it’s those who reinvent it.
Another secret of sharing your ideas is that it helps your bottom line.
That’s why Elon Musk puts many of his ideas, including electric battery technology or the Hyperloop, into open source. It may seem counterintuitive, but some ideas need others to buy into it, even if that’s your competition, for it to take off. Musk knew that even if he was the first to make a viable electric car and made the best if he were the only one to there wouldn’t be a great enough incentive for governments to fund the installation of charging stations. Without more competition, Tesla’s cars may never be feasible.
Google also creates a ton of free tools for people to use. Google maps, Google Docs and drive, and Gmail. Why? Well, it gains to have people use more of its services. One, it promotes the brand’s utility. Two, it provides the company with huge swaths of voluntarily provided data that drives value to its core business.
So what’s the takeaway? Should you give all your best ideas to everyone you meet for free? No, but you should talk about them with those who are in a position to make the most of them. A great idea doesn’t mean anything if it lives in your pocket your whole life. You never know if someone else is willing to invest, or partner, in your idea unless you tell them. The more you share, the more others will realize your value and come to you with their ideas as well.
Sometimes the best result of a good idea isn’t what it does, but where it takes you. Columbus didn’t make it to India, but he did discover America for the Europeans. The Norsemen might have made it here first, but they didn’t share the idea with anyone, and that’s why Spain struck it rich while the others didn’t.
The same goes for your ideas. Chances are you’re not the only one who is thinking about your idea, modern innovation, and communication tend to inspire multiple people to think and innovate on the same things. Eventually, someone is going to launch the product you were thinking about or develop a process you were making, and if you hadn’t shared those ideas with anyone, you’ll just be another nobody saying, “I had that idea a long time ago.”
Nobody likes that guy.
Take pride in your ideas, share them, and talk about them, and you’ll be surprised at how much more you get out of it.
Sharing is caring, especially if you care about your business.
Picture this: You’re sitting on a goldmine of an idea, and you’re terrified someone is going to steal it. We’ve all been there. But let me tell you something, my friend, it’s not about the idea itself. It’s about having the know-how and expertise to execute it.
Now, I know what you’re thinking. “But wait, can’t I technically enforce rights against another entrepreneur for stealing my idea?” Yes, you can — if you’ve properly protected your idea, that is. But let’s be real, most entrepreneurs don’t have the funds or the means to do so. And that’s the conundrum we all face.
So what’s the solution? Do we keep our ideas close to our chest, paranoid that someone is going to steal it? Or do we share them with the world, taking the risk that someone might rip it off?
Here’s the truth bomb: ideas need to be shared, interrogated, stretched, rethought and made better through collaboration. As Mark Beeching, my partner, friend, and mentor says,
“A collaboration of impactful thinkers and doers combining their valuable experience and diverse perspectives in a shared, fearless pursuit of the big and obvious but new ideas.” -Mark Beeching
Sharing your ideas isn’t just a way to improve them; it’s also a way to improve your bottom line. Take Elon Musk, for example. He puts many of his ideas, including electric battery technology or the Hyperloop, in open source. Why? Because he knows that some ideas need others to buy into it, even if it’s his competition, for it to take off. Musk knew that if he was the only one to make a viable electric car, there wouldn’t be enough incentive for governments to fund the installation of charging stations.
Google is another great example of a company that creates free tools for people to use. Google Maps, Google Docs and Drive, and Gmail are just a few examples. Why? Well, it promotes the brand’s utility and provides the company with huge swaths of voluntarily provided data that drives value to its core business.
But let’s get back to the fear of having your idea stolen. Here’s the thing: it’s not always about who gets to market first, but who is the “leading lagger.” Usually, you want someone to come in first and test the viability of the marketplace while you learn how to do it better. Did Facebook rip off Friendster? Who knows. But what we do know is that it’s not those who invent the industry that succeeds; it’s those who reinvent it.
So, my friend, take pride in your ideas, share them, talk about them, and you’ll be surprised how much more you get out of it. Don’t be that guy who holds onto an idea for so long that they miss the boat entirely. As the saying goes, “Sometimes the best result of a good idea isn’t what it does, but where it takes you
