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The $100 MBA Show

MBA925 Q&A Wednesday: How do I prevent someone from stealing my idea?

The $100 MBA Show

Omar Zenhom

Careers, Marketing, Business, Entrepreneurship

4.91.2K Ratings

🗓️ 24 January 2018

⏱️ 13 minutes

🧾️ Download transcript

Summary

You’ve got a great business idea, but you’re keeping it to yourself. If you let your million-dollar cat out of the bag too soon, surely someone will come along and beat you to market with it, right? Not exactly. Today, we address a frequently asked question about protecting business ideas from would-be thieves. Long story short: don’t worry about it!

Transcript

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0:00.0

Heyo! Welcome to the 100 Army Show, Business Podcast, where your business gets better every single day

0:15.8

with our daily 10 minute business lessons for the real world.

0:19.4

I'm your host, your coach, your teacher, Omar Zenhome.

0:22.8

I'm also the co-founder of the $100 MBA, a complete business training and community online

0:28.0

over at 100MBA.net.

0:31.1

Today's episode is a Q&A Wednesday episode. In our Q&A

0:35.0

Wednesday episodes, we answer your questions right here on the show.

0:39.0

If you have a question you want to ask, just email over at omar at 100 mba.net.

0:45.6

Today's question comes from shawl and shawl on

0:48.3

how do I prevent somebody from stealing my idea.

0:52.6

Now we get this question asked a lot and that's why I decided I have to answer this question

0:57.7

on the show.

0:59.1

A lot of you out there listening right now probably have some sort of idea for a product or service or

1:04.1

business in your head and have some fear in you saying I can't share this with

1:10.0

other people I can't tell other people about this because they might steal it and do my business, build the business that I have in my head before I get a chance to.

1:20.0

Right off the bat, I want to be transparent, I say this all the time, I say ideas are

1:24.8

worthless, it's the implementation that matters, but sometimes it doesn't resonate with people,

1:29.4

sometimes people just hear them but don't totally understand what I mean. They still have that fear of

1:34.3

somebody's going to steal their idea. So today we're going to talk about that fear.

1:39.1

We're going to talk about what are some of the alternatives if you don't share that information if you don't share your idea with other people?

1:45.1

What can you do to prevent somebody from stealing your idea? Is that even possible?

1:50.3

We answer Sean's question and get into the nitty gritty of this topic. So let's get into it. Let's get down to business.

...

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