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Entrepreneurs: stop cloaking your ideas in secrecy

share ideas entrepreneursThis article also appeared in Finweek Magazine in their 4-April-2013 issue

Joe and I met at a networking event recently. Joe is new to the entrepreneurial game and wants to start a business in the restaurant industry. When I asked Joe to tell me more about his concept, he immediately clammed up. “I’d prefer not to discuss it until it is launched”, he said hesitantly. “However if you could sign a confidentiality agreement, I do have one with me …”

I meet entrepreneurs like Joe all the time. Like most entrepreneurial newbies, he is very protective of his idea. His greatest fear is that copycats will steal it. So he guards his baby zealously, and doesn’t even tell his friends about it. By contrast, mature entrepreneurs who have been in the game for a while are only too happy to tell others about their ideas. Here’s why: Continue reading