3 Ways To Prevent Your Ideas From Being Stolen

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If your business involves the creation of some sort of ‘intellectual property’, it’s critical that you protect it as there are thieves who will readily steal it from you in order to profit from it themselves. The following contributed post is entitled, 3 Ways To Prevent Your Ideas From Being Stolen.

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Good ideas are rare to find – especially if they’re unique. If you’ve come up with an excellent idea, the last thing you need is for it to be stolen. People have their ideas taken from them all the time. Even if someone gets a portion of your idea, they can take it and run. So, how do you stop this from happening? In an age that’s full of technology – and everything is connected – can you stop people from stealing your ideas?

The short answer is, yes, you can. It involves a bit of legal work, and there are other steps you should also take before reaching the legal stages. Here are the three ways you can protect your ideas from being stolen:

Image Credit (CC0 License)

Get a copyright

Copyright law basically means that you own the rights to something that others can’t copy. Typically, this refers to intellectual property – like product designs, brand names, etc. I don’t think you can get a copyright for things like general business ideas, but you should speak to intellectual property lawyers just in case. Regardless, you need to copyright key parts of your idea that other people can steal. If you’ve come up with a new product, be sure you have a copyright on all of the designs. So, if someone manages to get a glimpse of them, they can’t use your ideas. If they do, you have the power to sue them and gain a lot of money.

Avoid conducting business on unsecured networks

Have you ever gone to a coffee shop and started doing work on your laptop? Perhaps you’ve created documents with business ideas on them; maybe you’ve emailed some thoughts to colleagues? In doing so, you put all of your ideas at risk due to the unsecured network. Coffee shops – and other public places – offer free WiFi for people to use. The downside of it being free is that it’s an open network for anyone to use. There’s no security, making it easy for a hacker to see what you’re doing. Who knows if someone is watching your every move and subtly stealing all of your knowledge? It’s best to conduct business on a secured network at all times. Password protected networks are the best, but you can add another layer of security with a VPN. Often, a VPN will also let you use open WiFi networks with more protection.

Keep your circle small

Don’t shout about your business ideas to everyone and anyone. It’s tempting, but you need to keep your circle as small as can be. Only tell people that you can trust. Otherwise, all it takes is for one person to say something to their friend, and then their friend tells someone else, and pretty soon, your idea has been stolen. Keep things under wraps until you can register trademarks and get copyrights.

All of these points are valid, but the second one deserves lots of attention. It’s so easy for a hacker to break into your computer and find all of your valuable information. They do it for fun, but they can see your idea and sell it to someone for a lot of money. Always take precautions when you’re online, and don’t forget the other two tips as well.

Business Ideas Are Easy. It’s The Practicalities That Are Hard

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Many, many people have good ideas for starting businesses, but they run into trouble when executing their unique ideas. The following contributed post is entitled, Business Ideas Are Easy. It’s The Practicalities That Are Hard.

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How many people do you know who have a great idea for a business? Chances are there are at least half a dozen of them in your life. And they like nothing more than sitting down with a drink in a bar and spending all night talking about them, including how much money they’re going to make.

When they actually come to do it – if they bother, that is – they encounter a problem. Organizing all the practicalities is a nightmare. They wonder how anyone manages to get a business off the ground.

In this post, we’re going to look at some of the everyday practical stumbling blocks for getting a business off the ground, and how you can overcome them.

Getting Funding For Your Idea

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You might have an excellent idea for a business, but convincing people that it is the real deal is a challenge. Amazon’s Jeff Bezos asked more than fifty people for money when setting up his e-commerce store. Less than half of them agreed to pay him. Think about that: even the world’s richest man struggled to finance his startup.

If you’re looking for money, therefore, you have to create a quality pitch. Ideally, you need to know two things:

● Why people will love your idea
● How much money it is likely to make

Once you have those two things nailed, most investors will become very interested in your project quickly.

Sorting Out Your Logistics

Some entrepreneurs attempt to manage their logistics in-house. But this is a hopelessly terrible idea. Heavy haulage isn’t something you can do by yourself. It’s immensely complicated and requires the assistance of experts who have the right equipment. The last thing you want is to lose a load because of errors in your distribution strategy.

If your startup relies on moving stuff from one place to another, always outsource the task to somebody who knows what they’re doing. Avoid the temptation to adopt the DIY approach.

Finding People To Do The Work

You would think that finding people to work in your business would be easy, given how many individuals are currently looking for jobs. The problem, though, is capturing the employees with the right talents. There are thousands of people who are willing to work in your enterprise. But very few of them actually have the skills you want.

In general, there are two approaches to this problem. You can either pull people out of your private network and get them working for you. Or you can get a specialist recruiter to do it for you. The advantage of the former is that it will cost you much less. The benefit of the latter is that you get results faster. So it’s a trade-off between time and money.

Whatever you do, commit to getting the people you need to make your enterprise work. They almost always pay for themselves in the long-run.

Entrepreneurship is partly about ideas, but mainly, it’s the practicalities that make the difference. That’s why so many wealthy people are doers, not “thinkers.”

How to Take Your Concept From Idea to Reality

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. An important step for all businesses is taking your concept to reality. There numerous steps that follow it, but it is arguably the most important step. The following contributed post is entitled How to Take Your Concept From Idea to Reality.

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When you have a great idea for a product or a business idea you think would work out great, the feeling of not knowing how to take it from vision to reality can be really frustrating. But sometimes you need to take a leap into the darkness and have faith in your idea. That’s not the same as having blind faith, however. There are lots of things you can do to help you take your concept from idea to reality, and that’s what we’re going to talk about right now, so read on.

Seek Advice

It’s a good idea to start out by seeking help from people who really know what they’re talking about. There are many people out there who’ve been in the same situation as you’re in now, and their experiences and insights can really help you to develop your ideas and find the next steps forward. There are plenty of people out there willing to help if you reach out to them.

Embrace the Risk

You’re going to have to accept that there’s a significant risk involved with developing a product or starting a business. There are certainly no guarantees of success or riches. But you should embrace that risk and everything that comes with it. It’s part of the ride and no one ever manages to innovate if they don’t take a few risks along the way.

Work Closely with Others

You’re going to need to work closely with others if you’re to have a chance of getting your product to market. For example, you’ll need to create a product requirements doc when working with designers and manufacturers. You need the specialist expertise of all kinds of people throughout the process because there’s almost no chance that you will know how to do it all yourself.

Test and Trial It

When you have a prototype of your product in place, you should test and trial it. This means putting it to the test in practice and also seeing how the target customers of your business respond to it. You can use things like focus groups to do this and you can then use the feedback you get in the next stage of development when making improvements to it.

Make Adaptations

Making adaptations is something that will happen many times over when you’re developing a new product. Something’s wrong if you feel like you’ve got it right the first time because that’s something that simply never happens and it’s not going to happen for you either. The process of adapting and improving your concept is one that’ll take time and resources, but it’ll be worth it in the end.

Image Source – CC0 License

When you have a great idea, you should act upon it. So many people have great product or business ideas but don’t know how to translate them into reality. It’s not necessarily as difficult as you might expect, so why not take a risk and try to make it happen? It might be the best thing you ever do.