Your idea doesn’t matter
.. and why execution is (statistically) more important.
A lot of entrepreneurs think that they need to protect their idea with NDAs and secrecy. This is rarely needed (Why I Won’t Sign Your NDA, Three reasons why not to sign non disclosure agreements, 3 Reasons You Shouldn’t Ask Us to Sign your NDA).
Main point is that NDAs put too much focus on the idea. Why is that a bad thing? First, rarely your idea is unique. Second, ideas do not matter that much. Don’t believe me? Think about idea vs. execution (implementation):
Great Idea + Great Execution = Great Success
Great Idea + Crappy Execution = Flop
Bad Idea + Crappy Execution = Flop (as bad as previous one)
Bad Idea + Great Execution = OK Results
Take the worst idea you can imagine (tip: any product in QVC/TVShop will do). Then imagine that world class designers and developers would re-create that product/service. It wouldn’t suck, right?
This for example is pretty useless (and on paper a bad idea):
But it’s still pretty awesome.
Everyone has ideas and most ideas are not unique. Someone said that you can own your idea for one hour and 30 minutes. After that it is already out in the wild. I don’t think you can own your ideas and that you shouldn’t even try.
Execution matters, make it your strategy.