Why I Don’t Hoard Ideas Anymore

I used to think ideas were everything. I thought a good idea could make me a fortune. I believed that someone would take my good idea and claim the prize that was owed to me. Then, I realized that ideas are cheap. Execution is everything.

Execution is hard. Sales, marketing, service delivery, analysis, optimization, leadership, and most of all, focus, are what deliver riches. The idea is just the tip of the iceberg.

That said, there’s a more fundamental reason to share your ideas. Sharing helps you refine the concept and make it better.

Feedback is what makes a good idea great.

Some parts of your idea should be protected, like trade secrets, code, or contract terms, but that universe is very small. Most everything else will be copied anyway. Your goal must be to expect that and establish a moat around your business by delivering better than any potential competitors.

Consider Airbnb. While a home sharing app is a good idea, it’s not new by any means. VRBO predated Airbnb by 13 years. It was one of the earliest websites to offer whole home rentals starting in 1995. Before that, it was a space controlled primarily by local realtors and specialty travel agents.

What made Airbnb great is that the founders spent an unreasonable amount of energy listening to customers and refining the model. They made home sharing acceptable, safe, easy, and fun.

Got an idea you want to workshop? Let’s chat.