Here in Silicon Valley it’s pretty common to have people pitch you an idea. I love to hear new ideas and how people are turning them into reality. It can be exciting and inspiring. However, there’s one type of pitch that I hate: the secret pitch. It goes something like this:
I have a killer idea, it’s revolutionary. I can’t tell you much though, my startup is in stealth.
An even worse version of this pitch is when they ask you to sign an NDA (non-disclosure agreement). We’re talking about a pitch, not about sharing code or patents! I have little patience for this and here’s why:
Ideas are cheap
There are so many great ideas out there. Some people spit them out like a machine gun, dozens a day. I believe that if an idea still sounds like a great idea after a week, there’s a good chance you could turn it into a fantastic business. Unfortunately for the world of startups, I think the idea is really far from being the hardest part of building a startup. It might actually be the easiest part. So if this is the case and ideas are cheap, why do these secret pitches still exist? Why make such a big fuss over just another idea?
Stealing makes little sense
Let’s be realistic, you’re not really sure that your idea is going to be successful. You, the creator, aren’t certain it’s going to be successful. Why would someone else steal an idea they are less familiar with, less passionate about, and more uncertain about? You understand the idea better than anyone else in the world. You’re also the most passionate and have a head start! As a final thought, why can’t the person listening to your pitch come up with a great idea too? I wouldn’t worry about them competing with you if they can’t. Stealing unproven ideas makes little sense.
Help comes from unexpected places
Sharing your idea can be so valuable. Friends and strangers might give you precious feedback, introduce you to people that can help, be your first customers etc. If you put your idea out there, you put yourself in a position to start learning and growing. If you’re afraid people will steal your idea and keep it secret, you might end up stifling the potential of your idea. I think the benefits of sharing far outweigh the cons.
Please keep in mind these are just the opinions of a young entrepreneur. Feel free to disagree and leave us a comment below!