A reader asks:

Hi I have a fantastic idea for a site that could generate a constant flow of money in. I don’t want to say to much because I am worried that someone else will steal the idea and make loads of money from it. What do I do? I haven’t got the time or the resources to develop it myself, but would like to make some money from it. I believe this idea is great and no one has done it so far and it could make a difference. Please can you help with what to do next.

As I explained in the post will they steal my business idea few business ideas are really unique and the idea that success comes from a big/unique/great idea is largely a myth. What matters is not the idea, but the execution of the idea. As I’ve said before starting a successful business is 1% inspiration 99% perspiration. So I would not worry about protecting your business idea and instead would suggest you decide if:

1. you believe in your idea;
2. you believe you can execute your idea well.

If you cannot honestly answer yes to both questions then forget it and move on with your life. If you did answer yes to both questions then just do it. The reality is that turning an Internet business idea into reality has never been cheaper! You can buy domain names for between £2 and £9 per year, you can get hosting from £2.5 per month and you can get all sorts of excellent software for FREE. Even if you need some bespoke development done it’s possible you’ll find a cheap developer through the likes of elance or you can get a local computer science student to do the work in return for an equity stake.

Asking John:
Do you have a business question you would like me to answer? If so you can Ask John or you can ask on the forums where you’ll get both my input and that of your fellow entrepreneurs.

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