The world is getting competitive and the competition is not just to sustain in the market but to also, ensure that the organization is growing. Each passing day, business organizations are challenged to bring novelty and innovation in their ideas. With this sort of cross cut competition, every businessperson is scared to share his or her ideas fearing duplication.
However, keeping an idea a secret surely kills your business. Do you Want to know how? Read and figure out on your own.
- You don’t get to see the other side – Like there are two sides of a coin, similarly there are pros and cons of every business idea. While I as a business person might find my idea absolutely unbeatable with no flaws attached but maybe someone else can easily figure out the loop holes in the particular business idea. If you do not share your business idea with people around you before the execution, you will be deprived from the much-needed feedback that can turn out to highly useful for planning.
- Someone can take it up – Often it is seen that a lot of business suffer because of improper timings. If you do not execute your idea of business soon, there are chances that someone else might just start up already and capture the market. This is why it is always suggested to share your ideas and execute them on time.
- Range of Innovation – In the market here one can find cutthroat competition, innovation tends to play key role in buying the space in the minds of consumers. You can wonderfully measure the degree of innovation in your business idea only when you share it with people around you and get the necessary feedback. Instead, if you opt not to share it with anyone and execute it by yourself, there is a higher amount of risk involved because what appears innovative to you may not be innovative to the audience.
- Word of mouth – This is often neglected by the entrepreneurs because they get too much engrossed in designing their marketing strategies. When you share you business idea you are actually publicising your work! In addition, we all are aware how much important marketing is. While sharing your ideas you actually gather the adopters for your business who might turn out to be loyal consumers in later stages.
- Learning never stops – Sharing your ideas help you gather details about your competitors and future prospectus as well. This makes you learn a certain aspects of the business that probably no business school can teach you. In order to learn it becomes vital for you interact and share your business ideas with people around you.
Your business idea is dear to you and we totally respect that but sometimes sharing provides you insights that you wouldn’t see it otherwise.