How far would you go in trusting others with your new business idea?

MAIN LOGOA security guard came to the manager of a certain business one morning and told him that the business person who shared premises had loaded up the back of his car with stock. On approaching the business owner who shared the premises, he claimed that he was in a rush and had left the money with the staff so that they could pay the other business owner when he opened his doors.

People make all sorts of excuses when they are caught red handed. But this story really goes to show how some people will behave given any sort of chance. One would expect that a business owner who shared premises with another business would safeguard the interests of both businesses but it didn’t turn out in this case. Action was not taken with the business owner who was caught red handed but increased security measures have been put in place so that this person will not do it again. The question mark that hangs over this incident is how much other stock has this business owner taken over the years?

Trust is not something to be taken lightly. Without it, it’s difficult to do business of any kind. Yet it easy for another to justify the actions with all sorts of excuses if they cross the thin red line of ethical behaviour.

What if you came up with a promising idea for a new product or service and somebody stole your idea? What would you do? How much would it cost you to take legal action? Would such expense be worthwhile?

Loose lips sink ships. If you share your new business idea with family and friends what sort of assurance do you have that they will keep tightlipped about it? What happens if someone else who could be a potential competitor gets wind of your new business idea and starts experimenting themselves? How safe is your new business idea?

Other areas of danger exist for the start-up founder or small business owner who comes up with a promising new idea and wants to turn it into a viable product or service. You could, for example, get someone to help you build your prototype but the supplier may tell a friend and then what are you going to do about it? The cat is out of the bag. What then is the best way to handle suppliers or freelancers that you may need to involved in the development of your product or service?

Then there’s the area of market testing that may also provide a danger zone for your new product or service. When you try to sell your product or service to someone and they buy it then there are others who will see your product or service, tell others about it and get their minds thinking. Suddenly, you may have more competition than you bargained for.

If you are concerned with or even paranoid about someone who may be out to steal your new business idea, then why not put your name down for my new resource, “Breakthrough Ideas” which covers the area of protection of your ideas in depth. Put your name down on the shortlist and when copies become available you will be able to find out how to deal with protecting your promising idea, concept or new product or service.

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By Chesney on November 17, 2014 · Posted in Main Content

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