Omninox

A blog about education technology, teaching, learning, and startups

3 Reasons Why No One Will Steal Your Idea… Yet

It is one of the biggest fears of novice entrepreneurs, but it may be misplaced

1.) Because it’s a piece of crap

I am not saying that it is. I’m sure it’s a great idea. However, it is the most common reason that prospective investors and venture capitalists don’t give it a second glance. Think about Twitter, which was one of the biggest underdog companies starting out. Before it became so huge, you might have thought it was really dumb. “160 characters or less? That’s like texting. I already have that. But it’s online.” Then when it became popular you justified your reason for joining it by thinking, “It’s like I’m texting THE WHOLE WORLD!”

2.) Because it requires too much work

This is the number one reason why even if someone wanted to steal your idea, they won’t, because to be able to have the same skills as you, then use them to create a prototype, get through the testing stages, meeting and calling up hundreds of prospective customers and investors, finding the right partners and the right people to bring onto your team, and all of that with the statistics weighted against your chance of success? Most people would look at that and go, "no thank you".

3.) Because you are not making money… yet

If your idea is still an idea, then chances are you are not making money on it. Unless you are a professor or a math prodigy who has solved one of the Millennium Prize Problems. When you have a finished prototype with scalability, a sound business model, and decent revenue, then you have proven the market. You have risked the chance of making mistakes so that your competitors do not make the same ones you made. At the same time, you have given someone who might walk in your shoes some advice on what you did best. At this point, some red-headed college drop-out may come along with better financing, a better team, better brains, and will do the exact same thing as you did… except better. Good luck.

Image Source: http://beacon.wharton.upenn.edu/entrepreneurship/2015/02/no-ones-going-to-steal-your-idea/