Michael Newman’s latest é-Wealth Daily’ article is titled “Who Are You Keeping Secrets From?”. [‘e-Wealth Daily’Article]

Michael Newman’s latest ‘e-Wealth Daily’ article:

Who Are You Keeping Secrets From?

There’s no question that taking the step into entrepreneurship is a challenge. And one of the biggest challenges is deciding whether or not to keep your big idea a secret. Is it about the idea itself, or the execution of that idea?

At first glance, many entrepreneurs feel it’s wise to keep their big idea a secret. After all, there are a lot of shady people out there who are looking to make money any way they can. If you
give them an idea, there’s nothing to stop them from taking it and doing it themselves.

On the other hand, however, there is the school of thought that says that a successful business has little to do with the idea itself, but rather the way that idea is executed. This is also a justifiable way of looking at things because, as you likely know, there are a number of businesses out there that offer similar services. What makes some better than others is the way they position and execute their services.

It’s my view that your business can be a success whether you choose to keep it a secret or you share your visions of success with others. However, depending on your experience, the capital in your business and your growth timeframe, it may be worthwhile to tell as many people as possible.

Telling people about your business gives you the opportunity to generate interest amongst others. This interest can come in a variety of forms, from capital investment, to partnership opportunities, to one of the most important things for a new entrepreneur — knowledge from those who have done it before
you.

By talking to people who are either in the industry or have gone through the trials and tribulations of a start-up, you can learn important information about things to look for and how to succeed. There is no substitute for learning from those with experience and doing so can save you from all kinds of headaches along the way.

However, remember that, when you schedule meetings with people, you need to bring along nondisclosure agreements. Get them signed so that you don’t have to worry about potential competitors infringing on your intellectual property.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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