What most startup founders have in common is that they fear sharing their 'Big Idea' with others as they worry that someone might snatch it and leave them empty-handed.
But the longer you wait, the less likely you are to act upon that idea and secure the funding you need to bring your vision to fruition. Truth be told, your job as a startup founder is to tell your idea to everyone willing to listen. In fact, you not only have to convince them that your idea is good, but that it's so good that it's worth investing in.
Keeping your idea a secret is like a seed that never gets watered - it would never see the light of day.
That's why I've decided to compile a list of a few good reasons why you should not be afraid to share your idea with the world. Let's get started.
1. Input from other people can improve your idea and help bring it to the next level.
Keeping your idea a secret will do you no good. It's important to get feedback from others as it will not only help you validate your idea but also help you find and fix flaws you might encounter along the way. Consider also reaching out to pros as their feedback could improve your idea even further. If people don't like it at first, use that criticism as a valuable learning experience that would bring your idea to the next level.
2. Sharing your idea with others will make you accountable and more likely to act.
Let's face it - how many times have you considered doing something only to bail out on it in the last minute? Well, as a startup founder you can't really afford to do that simply because there is too much at stake. By sharing your idea with others you make them part of the process and essentially - part of your startup journey. They'll hold you accountable for your actions (or lack thereof), thus you will be more likely to act upon and execute your startup idea.
3. Every time you present your idea to someone is an opportunity to clarify it in your mind and improve your final pitch.
Presenting your idea to investors is key to getting your startup up and running. But how will you hone your presentation skills if you don't share your idea with others. Might come off as a bit of a cliché, but practice does make perfect. If you want to create the perfect pitch - get out and start pitching.
4. If you worry about someone stealing your idea - don’t. They are probably busy protecting their own BIG IDEA.
The harsh truth is that there are very few entirely new or original ideas. In fact, 99% of the people who are likely to share an idea similar to yours won't act upon it - it is too much work as it requires a lot of time and resources to get things going. If you are worried that someone might steal your idea - don't be. They probably doubt the validity of your idea and believe that theirs is better than yours.
Don't believe me? Make a list of your top 5 startup ideas. Take the one you like the least and don't really care if it gets stolen. Present it to your biggest competitors and I can almost guarantee you that they won't be very interested in stealing your idea. Why? Because to make things happen you need to put in the work. Even if your idea gets stolen in the process, it's the execution and implementation that matters - NOT the idea in its own right.
5. Being first to market is NOT that important
Some founders believe that being first to market is crucial for the success of their startup. In reality - it doesn't really matter. Execution matters. If someone you trusted stole your idea and went to market ahead of you that will make you work that much harder to make your product better than theirs. Besides, sharing your idea with others will help you build a community of followers, therefore making the launch of your product more likely to succeed.
In summary, some of the benefits you'll get out of sharing your idea with others are feedback, validation, and building a community which will better prepare you for the start of your startup journey. As you can see, there are plenty of good reasons why not to be afraid to share your Big Idea with the world. So, what are you waiting for? Go out there and show them what you've got!