Emergic: Rajesh Jain's Blog

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Blog Past: Talking to People about One’s Business

December 5th, 2010 · 3 Comments

From a post a couple years ago:

One of the principles I have followed through my career as an entrepreneur is an openness to talk about the business I am doing. I have found that this has more rewards than risks. Yes, there is a risk that someone may ’steal’ an idea but if it were that simple to create a replica, why bother doing it in the first place!

For me, the biggest reward is that talking to others helps me refine the way I think about what we are doing. The best ideas come when someone challenges what we are doing or asks a question on a track which we may not have thought much about. To get the right inputs, it is important to be willing to share what one is doing. Openness gets you more than you have to give.

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3 responses so far ↓

  • 1 Adarsh // Dec 5, 2010 at 6:42 am

    I totally agree, though one may want to talk more about it once he has put enough thought in it himself as then he can easily bounce frivolous objections from the other person and also he is ahead of any other person wanting to replicate the same in terms of implementing it

  • 2 Raj // Dec 5, 2010 at 10:20 am

    Mr. Jain,

    While I agree in principal that is the execution of the idea rather than the idea itself, and its a good idea to brainstorm and get feedback, wouldn’t you agree that in some cases it pays to be as secretive as possible. I think of Iphone as an example. Had Apple opened that up to guage ideas from the general public before launching, I think they would have completely lost their first mover advantage, which in the case of the Iphone, was huge.

    Thoughts?

    Raj

  • 3 Adarsh // Dec 8, 2010 at 1:21 pm

    Dear Mr Raj,

    Yes what you say is right, you only talk to people who have the capability to understand it. The problem is how do you judge who has the capability. You can always choose what to implement and what not from the feedback you received.

    Also Rajesh’s point was more towards the risk of somebody else copying your idea rather than about getting worthwhile feedback

    Regards,
    Adarsh

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