After more than 400 business posts on this website with each day having at least a business post, ZBIN can safely be classified as a business forum which identifies opportunities! Identifying opportunities naturally runs through our blood and this is one of our key strengths. We like to share with others so as to inspire a lot of entrepreneurs who could be clueless of what to invest in. The lack of awareness on opportunities often lead to most people flooding a few sectors resulting in over flooding. ZBIN does share information for free to the general public but we have certain classified information that we do not share, we have certain information that is only available to subscribed members only.
This afternoon, we would like to tackle the importance of protecting your business ideas especially when you want to start a business idea. It is important to protect information because if information leaks, chances are high that someone will grab the information and run away with it.
Who is vulnerable to business idea theft?
- Young entrepreneurs without capital
- Talkative people
- People who like to show off
- Inexperienced people
A young entrepreneur is likely to approach a lot of people looking for funding, demonstrating that their idea works and is viable. Approaching the wrong people for funding can prove fatal-your idea can be hijacked! We even have certain prominent companies that thrive on poaching business ideas from young people without giving due credit.
Some youngsters send unsolicited business proposals to companies thinking that their innovations will be acknowledged. This rarely happens infact most get shocked when they see their business idea implemented without due recognition to the inventor. Here is a warning to you-the world of business is infested with sharks!
A new trick in town is simply to invite applications for funding where the best idea gets funding. Be careful of most of these adverts or competitions- some are just there to harvest business ideas for free. I once came across someone unscrupulous who advertised commercial premises for rental at Zindoga in Harare. He would interview each prospective lessee asking what sort of business they wanted to run.
He interviewed a total of 10 people and now wait for what he did-he implemented the best idea that came from one of the people who wanted to lease his building. The whole interview process was a fraud meant to harvest business ideas!
On another business post by a prominent business man, followers were invited to post details of their organisations with the winner being chosen. Thousands of young entrepreneurs posted their business details, some even went a step further and posted their business plans. Readers of the post should have been left wondering what is wrong in Africa as people were posting confidential business information.
So becareful with your business ideas, protect them as if your life depends on them. Carry out due diligence and study who the person is, their history on business ethics before giving away your business ideas as you seek funding.
Entering online competitions opens your doors to investment and being profiled but the question is…should you give out all information on a site where information is accessed by millions of people?
You should judge what information to give away especially to strangers. Be careful of competitions that harvest business ideas. Another big problem with young people is to talk too much in trying to impress rich people. Some of these rich people got rich by harvesting information for free! They know that young people love to talk, they love to show-off their knowledge and business opportunities.
Below we feature a similar issue which was discussed on one of our groups
Hello guys… Please I need your advice … I just shared with a friend … I told her that I’m saving some cash to buy myself a caravan to sell food… I thought she was happy for me …but then she was over excited she told everyone about it …I’m scared that she will overtake me..should I be worried?
Elizabeth: People steal ideas that’s one thing you should always be wary of whom you share your business ideas with.The very reason people patent their intellectual property is the same reason u should use to safeguard your ideas.
Samukhele; Never ever tell people your plans cc, they will steal your ideas. But yaz the one thing i love about trusting in God when he blesses you he blesses you indeed. Even if your friend buys the caravan she cannot do what you do the same way you do it. Pray over your plans, hush your mouth from now on and continue with your business plan.shes is not you and never will be you are original
Vee: while shes still waiting to see if you will really buy the caravan or not wena go and register a company.if youre in SA R400 should be enough including a Nedbank business account
Jesca: I’m in a same situation but for me its my husband who is discouraging me that my business will fail.
Vee:Remember what i said in my earlier posts? Do not listen to the negativity of family and friends they will hold you back.. It is possible that your husband sees your potential and know you’re capable of making your business a success and he fears how independent you might become.God says we must remember and hold on to our dreams for they will come to pass. I have failed a million times in business and im still failing even now cos theres so much to learn. Dont let people’s discouragements phase you. Your goals your will to succeed.
