When Is The Right Time To Start Talking About Your Business Idea?
There are different things that can happen to an idea. You get an idea, your intuition says that it is revolutionary and from that very moment you start working towards it. You come across a brilliant idea to solve an existing problem, you wait for that appropriate time to start working on it, and you never talk to anyone about it thinking that it might get stolen. One fine day you come to know that the idea has already been brought into existence by someone.
An idea occurs to you, you believe that it is awesome and start talking to many people about it just to get the sense of satisfaction of being someone with great ideas. In that process of gaining satisfaction, there lies a danger, some people might really appreciate your idea while a few will definitely criticize it, and that criticism has a very high holding back power which might even result in you killing the idea there and then and never even thinking of pursuing it again.
An idea, however revolutionary it might seem, if not worked upon, has the chances to remain as an idea. Implementation is the key factor in transforming and bringing an idea into existence.It is said that Idea is something that comes easy as all of us are bestowed with some sort of creativity and have an instinct of generating ideas. Many a times you might have heard that in this universe we all are connected with some form of energy and it is quite uncertain that, at the time an idea has occurred to you, it has not occurred or will not occur to anyone else. So my suggestion is that you get away from the fear of your idea being stolen away. With the course of time, your idea may or may not stay unique but the way you execute it will definitely make it one.
Generally, the biggest constraints in a human’s life belong to either of the three: time, effort, and money. How to decide whether these are worth spending on the idea that you just got? The recommendation is that you validate your idea. The complete acceptance of your idea is an ongoing process. However, there a few prerequisite mandatory steps in idea validation before you start dedicating your resources for the realization of it:
– Do your research to make sure that the exact replica of the idea does not exists at least in the same market you are targeting.
– Talk to your best friends and close family members about the need for the solution that you think your idea will provide.
– Do a detailed analysis; create an easy to understand representation of your idea.
Now this is the correct time, while you are working on defining your customers and market and making a skeleton plan to execute your idea, with a bang keep doing a parallel launch of it. This will help in the proper idea validation. Step out of your comfort zone, keep searching for a mentor, talk to people whom you think can be a potential customer or investor. Evaluate every possible way to expose your idea to as many people as you can. Carve out your way to participate in Startup exhibitions. Use your negotiation and self-marketing skills to get the optimal deal.
Once and for all, throw away any fear that keeps you from sharing your idea. Now here comes the most important part, even if no one believes in your idea but you do and if you think that it will really make a difference, I would strongly recommend that keep working on it with the limited number of people who believe in it, keep making progress. Once you see your idea progressing, approach people again and this time they will definitely believe on it.
I have started a venture, Morphedo in an industry (3D Printing) that is still at a nascent stage in India. With all the criticism that it is a technology of the future; my team has kept working on it for a year. We are now in the phase of making people accept that Morphedo will make a difference. We are reinventing our business model and will very soon come up with something awesome.