
No, you are not the only one thinking like this! I must have heard this statement said countless times! Aspiring entrepreneurs from different ages, industries, and backgrounds keep repeating it.
After all, it is our natural instinct to be possessive and to protect what is ours. However, possessiveness might harm a business development instead of actually benefiting it. Indeed, when intellectual property (IP) protection is on the table, the situation and conversation should be quite different and protective. But for ideas with no IP protection, three thoughts I want to share with you:
• When you start your venture and develop your business idea, you need the advice of experts in your industry and of entrepreneurs who have walked the path you are about to take. It is key to understand the characteristics of the industry you will be operating in and to seek advice on the required business and personal processes. Experts will not be able to help you much unless you adequately share information about your business.
• Starting any business requires a lot of research; from market research all the way to best practices for social media presence. The expertise you have, the research you do, and your implementation of the idea will give you an edge over anyone trying to "copy" your idea and implement it. For added safety, if you are afraid of sharing your business idea, make sure you do your research before you openly talk about it with others, so you guarantee you are a step ahead.
• As you go, remember that it is all a learning process. Ecosystem enablers, mentors, and players are here to support you. You will need to talk with each and benefit from their share of expertise in order to grow your business. In time, you will know what to share and what not to share with each entity, should you decide not to share your full idea.
Your business's "AHA!" moment will come. You cannot know when and how, but you will have that business awakening feeling; that feeling that you now perfectly know what you will be doing with your business. I have been there and I had my AHA moment after talking with a prominent accelerator in the country! Talk about your business; it is the best way to grow.
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