EP4: Should Entrepreneurs share their business ideas with everyone? Conversation with Momarr Taal
Do you think it is wise for Entrepreneurs to share their business ideas with everyone?
Hold that thought! You should hear what Momarr Taal had to say about this. (In case you don’t know who he is, we did a short article on him – Click here)
We are all for sharing your ideas, but that does not come with its risks. What then are the benefits of sharing your ideas?
- Sharing ideas raise your creativity and learning from the feedback you get.
- Sharing your ideas help solve issues quickly.
- Sharing ideas helps you gain networking opportunities.
Of course, there are several way you may protect your ideas:
- Avoid revealing too much, don’t share everything with everyone.
- Always document and use Non Disclosure Agreements (NDA’s)
- Apply for a Patent
- Research the recipients/people who you are pitching to and choose confidants wisely.
Sharing your ideas is the first step to making your idea real, and often times, and I dare say, most of the times the idea you started with may not be the finished product you end up with later.
Finally, ideas are meaningless without effective execution!!
Having an idea is one thing, what value are you bringing to the table?Momarr Taal Founder, Tropingo Foods
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July 26, 2018