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Recently, I was sitting at a café with a friend discussing some business ideas and my friend began to tell me about an idea that he had. At first, he was hesitant to say anything about it. It was not so crowded at the café but still there some people sitting around us. Finally, my friend decided he would go ahead and share the idea with me, but as he was talking, I noticed that he kept turning his head to make sure that no one was listening. He kept repeating that he wanted this idea to stay just between the two of us.
This is just one example of a situation in which someone has a great business idea, but they never take action. As a result, the idea just dies with them. The key to succeeding is to make sure that if you have an idea for a business that you take the next step and implement it.
Far too often, many people have an idea for a business and then they see that someone else has implemented the same idea. The difference is that one person acted upon their idea and the other person did not. Don’t allow yourself to fall into the trip. There is no need to try and reinvent the wheel.
Facebook, as we all know, is wildly successful. Even so, it was hardly the first social media site. Long before Facebook, there was MySpace. After Facebook, there was Instagram. Both sites have enjoyed wild success. They are both built on the same idea of social media.
There is no need to be afraid to share your idea. If you do not take action and share your idea with investors and others, nothing will ever come of it. There are many great services out there available for consulting that can help you to get your business off the ground, including Clarity.fm. With this service, you can chat with experts from a wide variety of different fields. You are charged per minute, but it is a very valuable service. You can also begin to attend startup events for entrepreneurs where you can network with others. Another option is to take advantage of the Internet. The Internet has significantly changed the way in which we communicate and now you can find out practically anything you want at the speed of light, through sites such as Google and YouTube.
Never just hide your idea and sleep on it; otherwise, it will simply die with you. Go ahead and bring it to light. Take the initiative to understand the investment process, what is involved in raising capital for your idea, such as how of your share you stand to lose with various investment options. For example, if you have a $10,000 idea and you raise capital from friends and family or angel investors, find out what type of share you may need to pay out and how much you will keep. Too many people never take action on an idea because they are afraid they will lose some of the profit. As a result, they never realize anything from their idea.
Do not let yourself be afraid to share your idea because you are afraid of sharing the profits with certain partners or even afraid that someone else has already implemented the idea before you. Bring your idea to light and share your success with others. Don’t be afraid that someone else will steal your idea. In reality, this only rarely happens. Of course, you could have people sign a NDA or non-disclosure agreement when you talk them about your idea, but be aware that investors may just ignore your idea if you do this. In the end, the key is not the idea itself as in general the idea does not represent more than 5-10% from the success of any venture, but whoever is willing to implement it is the major part that’s affecting the success of any venture. Be willing to take action, share your idea, and embrace success. Do your best and hope for the best.
For the successful ventures that you have how much weight as percentage you give for the idea of the venture vs. the implementation, Please share with us your story and/or thoughts?