I’ll often suggested that keeping your idea secret for fear that others will steal it is unnecessary and actually makes it harder to bring your idea to come fruition. I usually suggest that being a successful entrepreneur is 1% Inspiration and 99% Perspiration.
It’s one of the reasons I’m happy to share my business ideas on this site, I know the idea is only a small part of it and my own success will depend on the effort I put into my business rather than on the idea behind it.
Seth Godin summed this up another way in his recent post:
History is littered with inventors who had “great” ideas but kept them quiet and then poorly executed them. And history is lit up with do-ers who took ideas that were floating around in the ether and actually made something happen. In fact, just about every successful venture is based on an unoriginal idea, beautifully executed.
So, if you’ve got ideas, let them go. They’re probably holding you back from the hard work of actually executing.
He also says:
My feeling is that the more often you create and share ideas, the better you get at it. The process of manipulating and ultimately spreading ideas improves both the quality and the quantity of what you create, at least it does for me.
I couldn’t agree more before I started my own business I struggled to find any ideas for a business, within a few months of starting I was spotting a business idea every month, then it became every week. Since starting this blog I see several new business ideas and opportunities every day.
This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
Mere words, are not enough to express how much I agree with you on this issue. At the risk of appearing shamelessly self promoting,(who me?) your readers may also enjoy this real life experience of mine which I recently posted on my site.
Thanks Lindsay. It always amazes me how many people think the all they need is a big idea.
It’s the little ideas done well that work.
Great post John! From our experience, people or companies that place too much emphasis on a good idea or product are the ones that fail. Having a great idea or product is a requirement and not a competitive advantage.
Tatsuya,
Thanks, I think your final sentence there is a brilliant summary:
“Having a great idea or product is a requirement and not a competitive advantage.”
Straight to the point.
Great blog. I agree with the 1% inspiration 99% perspiration ratio (As quoted from Thomas Edison) to a point. It doesnt leave room for passion and conviction. As an inventor and an entrepreneur, I have found both to be essential when taking an idea and turning it into a succesfull business.
I’d definitely agree passion and conviction are vital but I’d regard them as being part of the 99% perspiration.
This is a universal law. When I started with my blog, I was suspicious how internet community will take it but now it has a very stable readership, which gives me an immense satisfaction.