As an editor of MyDigitalStartup.net I work closely with startups, founders, entrepreneurs, investors and VCs. At times it feels like I work as a product taster at Ben & Jerry’s or Baskin Bobbins ice cream chains who offer 100s of flavors
As a product taster for Ben & Jerry’s, would I be excited if someone pitched yet another ice-cream flavor? Sure! But, will I just copy every new flavor that I come across? Surely not. I have my hands full trying to market the 99+ flavors.
However, I may wait for a blockbuster to come along – and be accepted by consumers – before I decide to buy that startup and its flavor. Or re-crate that flavor in my lab.
If you also have some expertise in executing the idea, such expertise may not be easy to copy. Ask yourself:
- Why do you want to share the idea? You must have a compelling reason to share the idea and not the work product or MVP.
- Who will you share the idea with? You should be okay if you are sharing an idea with investor/s or employees, contractors under NDA.
What does this mean? Ideas can and will be copied.
- There are a lot more ideas floating around than people who can execute and follow-through
- What this means is simple. Don’t be too hung up on your idea, focus on how you are going to realize the idea.
- The fact is that an idea can (and good ideas will) be copied.
- As I stated earlier, executing an idea is really hard, even for larger companies.
- Most VCs, Investors and corporate executives are too busy integrating good ideas and wait for ideas to be executed before they move forward.
- What this means to startups is simple: execute on your idea, and execute fast and with confidence