Startup Myths

October 2, 2021

Ron Garret has a post on his blog titled “Top ten geek business myths” that I found interesting.  The two myths I agreed with most:

  • Myth #3: Someone will steal your idea if you don’t protect it.
  • Myth #10: Having no competition is a good thing.

I hear #3 all of the time.  So many people wait too long to share their idea with anyone.  When you start telling people about your idea you are a taking a risk, but not the risk you are scared of.  You are taking the risk that your idea will change and ultimately become more than just your idea.  Any good idea can be improved upon and the more people you tell the better chance you have to succeed.  For me, an idea isn’t real until I tell someone about it.

Number ten is another one people tout as an advantage.  When I hear, “and we have no competitors…” I think one of two things.  Either you are naive or you are in the wrong space.  With six billion people on the planet you were the one who found the one unexploited market niche?  Maybe, but I doubt it.  Ron sums up his post by saying:

All these myths can be neatly summarized in a pithy slogan: it’s the customer, stupid. Success in business is not about having a brilliant idea. Bright ideas are a dime a dozen. Business is about taking a bright idea and assembling a team that can turn that idea into a product and bring that product to customers who want to buy it. It’s that simple. And that complicated.

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