Letting your idea simmer in secrecy will spoil the tea.
Here’s an idea: don’t shroud your next big idea in secrecy.
A common mistake that most start-ups make is to fiercely guard the big idea from as many people as they can. It is a futile endeavour that throttles your potential. Wonder why?
Privacy and secrecy are two entirely different concepts and conflating the two harms your business. What you are looking for is the former and not the latter.
Sharing your big idea with the right people, and people you can trust will help you gather feedback, refine your strategy, tweak the direction when applicable, fix the issues and build a base of cheerleaders and potential investors.
Sometimes, an idea is immaculate in our heads, and foolproof too, until we share it with someone and see a glaring error stare right back at us and we wonder how we missed something so obvious.
It’s possible to be unaware of the full picture while we are immersed in something or are in the moment. Only the benefit of hindsight gives us that clarity. But, if you keep your idea to yourself, that hindsight will appear in the form of a harsh lesson after you have followed through with it, and launched the idea in the market, only to see your confidence unreciprocated.
You can save yourself from the hassle of regret and financial losses by vetting it through people you know are of sound judgement and in whom you can have unshakeable trust.
Additionally, different perspectives will give you a two-fold view of your idea, as these people will act as proxy customers, and cheerleaders, and partners all at once. So, you get an unbiased yet well-rounded understanding of your idea from the eyes of another.
Eventually, when you do launch your product or service, these proxy customers, cheerleaders and partners might turn into real ones, thereby benefiting your brand and building a core base to expand from.
When you take your core base through the process of conception to launch, your launch becomes theirs, and the buzz and excitement is organic. They will invite people they know and propagate your brand from day 1.
This also ensures that you are well-prepared to clarify doubts and exude confidence and energy in your responses, regardless of how skeptical or demoralizing the questions might be. Your personal beta hive will present questions that eventual investors, media persons, and reviewers will pose. You will have time to hone your answers and rectify mistakes by the time of the launch.
The fear of losing your idea to someone else, only to watch them execute it is quite baseless. Your goal should be to come up with a concept, product or service that by its very existence continually reinvents itself to the point that the layers are symbiotic and without knowing the full extent, the idea will fall flat and won’t be ready to launch.
If you are confident in what you’ve come up with, you will know that no one else can execute the idea the way you can, and that gives it the edge. With a population of 7.5 billion, there is no novelty idea that greatly benefits from being the first in line. It is the execution that matters. Look around you, and the examples are abundant.
Retrieving caution from the wind, a reminder:
- Before you fast-track your idea on the conveyor belt, research the market thoroughly. Your idea might already be out there, through pure coincidence, and you might be forced to shut down right after your launch, even if you never stole or knew of something similar out there.
- Make sure that no trademarks and copyrights are being infringed upon. Your marketing material, including logos, copy, et cetera, might share elements that you cannot legally include. So, being aware is important. At the same time, once it is in the clear, copyrighting your content is equally important. (Contact our partners Andrews Robichaud, they can help with this!)
- Retain your cheerleaders by providing them with incentives and special offers, or by including them in an exclusive club that distinguishes them from those who engage with your brand post launch. The confidence and trust expressed will ensure that word of mouth is in your favour, without any reminders from your end.
Feel optimistic after reading this blog and need a confidant to help you see your idea from a different perspective? Get in touch with Jester! We are happy to provide the feedback you need!