Should you keep your startup idea secret to protect it? Ask Gollum about it
Do you think you shouldn’t talk about your startup idea because someone might steal it? Well, you should see what happens to Gollum when doesn’t want to share his startup idea… Watch this, then read on!
Sooo, I hope you got the point of this video. You have to talk about your startup idea as much as you can because otherwise, nothing will happen, you won't move forward with it. As simple as that. The only situation where you should NOT talk about your startup idea is the following: you’re an expert engineer in some very complex field, and you found a technical solution to solve a certain problem which will make life easier for a lot of people. In that case, you probably shouldn’t talk about your technical solution to someone who has the same skills as you: another brilliant engineer or a company in the same field.
For all the other situations, only execution matters. You can have the most brilliant idea in the world, but no one will take you seriously until you prove it. Picture this: Airbnb got rejected dozens of times by investors for many reasons. No one believed in this idea, and look what it became today? Oh and also, once it started growing, many copycats appeared all around the world. So here’s the thing: people will start stealing your startup idea only when you start to make serious money with it. Until then, there’s not much risk, or it’s extremely marginal.
P.S.: This is not related to the text above, but now that you've passed this section, go ahead and fill the two remaining blocks of the practice sheet you downloaded previously: "Your Competition" and "Market Context".