Ideas are also not as unique as we think. As founders, we worry needlessly about someone stealing our idea. If you have an idea, there are likely numerous others with similar ideas. I like to think that ideas are like the air we breathe: it's all around us, so they can't really be "stolen," and if we don't take action, it's ultimately useless anyway. Ideas are only a tiny part of the entrepreneurial journey. The key lies in execution.
To this end, share your ideas openly with anyone who will listen and ask for feedback. Ideas are like seeds: they can germinate and grow if planted in the right environment and nurtured with the right resources. But they can also wither away if they are not cared for. It is up to the entrepreneur to ensure the idea is given the right conditions to flourish. Sharing helps create the right conditions.
Another argument we often hear for guarding our ideas is that we want to be the first to market. Being the first-to-market doesn't guarantee success - in fact, 50% of first-movers fail. The idea of first-to-market is too glamorized. Companies that are first to market with the idea that is not patentable carry the burden of education. They often have to create that market. Google was not the first search engine. Facebook was not the first social network. There are endless examples.
According to a study, approximately 61 percent of Americans have had an idea for starting their own business. Research also shows that the main reasons for not following through with starting a business are lack of funding (63%) and not knowing how to get started (39%). We worry needlessly about people stealing our ideas. We give people too much credit. People are too lazy to copy ideas. So, if you have an idea, don’t worry—just go for it! After all, if someone has the energy to copy your idea, you should be proud they think it’s worth stealing!
Starting something is difficult. Following through and finishing the project is even more challenging. 92% of Americans with business ideas don't follow through. But, once the idea is proven, you should expect competition, as those who didn't invest the time and energy to develop the idea will be quick to copy it. People rush to copy proven startup ideas. For example, after the success of Airbnb, numerous companies began to offer similar services, such as HomeAway, FlipKey, and Roomorama. Granted, Airbnb still holds the key market share. Still, they have also had to acquire a handful of companies who were essentially copying the business model for geography or a vertical that Airbnb wasn't active in. Similarly, once Apple released and successfully marketed the iPod, dozens of companies created their own versions of the device to try and compete in the same market.
Don't worry too much about people stealing your ideas, and instead, work towards moving your ideas forward. Ideas and dreams are plentiful, but effective execution is what ultimately matters. To be successful, it is essential to focus on turning ideas into tangible outcomes. After all, as the old adage goes, "A dream without action is just a wish."