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Are you open to sharing ideas - how much do you disclose to colleagues in the same niche as you?

by TeaCozy
21 replies
One of my friends is looking to start up a business and his nich is not that dissimilar to mine.

He said to me yesterday "If you don't want to share info with me as I it's your business and I will be doing something similar in a way, that's cool". To which I responded "anyone who doesn't share ideas and thinks they are the only one with them....is an idiot!"

I've always been fine with sharing and collaborating people.

Sure I have had a few instances where I have been disappointed with people who have done something that I thought was commercial in confidence but on the whole, I have a pretty tight network so I am pretty comfortable.

But this comment made me wonder if I am too free with my sharing of new marketing ideas and what I plan on doing with my work.

There is enough business out there for all of us to be able to share our ideas with friends and networks.

Do you hold your ideas and business close to your chest ordinarily or are you happy to share? I have so much banked in my head that I want to work on that I'm fairly confident it's not a biggie but I wonder if being open to sharing business ideas and discussing how I run my business is such a good idea.

Is it like discussing politics?
#colleagues #disclose #ideas #niche #open #sharing
  • Profile picture of the author agmccall
    It is like anything else. People that have a restaurant might talk to other restaurateurs about different aspects of their businesses, but will probably never share secret recipes.

    Same goes for the IM business, We will all share thoughts and ideas but if we have a traffic source that is generating tons of traffic at a very low cost then we will be reluctant to share that as it might cause prices to rise due to reduction in supply.

    al
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  • Profile picture of the author JohnMcCabe
    It's like fishing.

    Unless you're in the middle of the same tournament, even the top pros will talk tactics and gear for hours. Ask them about their specific spots, and they shut up tighter than a clam.

    Same with marketing. I'll gladly share ideas, suggestions and even possible copy. Just don't ask me about specifics that I've spent considerable time, money and/or skull sweat to discover and test.
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    • Profile picture of the author TeaCozy
      Originally Posted by JohnMcCabe View Post

      It's like fishing.

      Unless you're in the middle of the same tournament, even the top pros will talk tactics and gear for hours. Ask them about their specific spots, and they shut up tighter than a clam.

      Same with marketing. I'll gladly share ideas, suggestions and even possible copy. Just don't ask me about specifics that I've spent considerable time, money and/or skull sweat to discover and test.
      I like that analogy - yes, I have found that I just become a little vague around specifics.

      I'm not silly and I know the people I am sharing ideas with are just trying to save a bucket load of time by chatting and finding out what everyone else is doing. I do the same, however I have had to really pull my head in after a few people have basically ripped off the same ideas I have had.

      It was me just being green but I think talking tactics is one thing, getting into the nitty gritty is something to avoid.

      Thanks for your comment.
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  • Profile picture of the author BradVert2013
    Freelance writing has such a big market, I have no worries about talking to others about what I do.

    In fact, I even wrote an ebook to help others become freelance writers like I did.
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    • Profile picture of the author myob
      I have in fact shared many of my own marketing methods, techniques, and even niches right here on this forum and other venues for years. Luckily, very few people have the motivation to act on these free "secrets".
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      • Profile picture of the author BradVert2013
        Originally Posted by myob View Post

        Luckily, very few people have the motivation to act on these free "secrets".
        This. A lot of beginners want answers, but very few will actually take action and even fewer will stick with it long enough to see success.
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        • Profile picture of the author myob
          Originally Posted by BradVert2013 View Post

          This. A lot of beginners want answers, but very few will actually take action and even fewer will stick with it long enough to see success.
          Exactly, LOL! And I can continue to sell them books on the exact proven methods I use.

          Years ago a roofing contractor friend of mine wrote a book on how to repair your own roof - without a contractor. His collegues chided and laughed at him for "giving away" the trade secrets.

          But soon afterwards, he was getting more business than ever before. Not only was he making a killing on book sales, but readers would contact him as the perceived "expert" after realizing just how involved roof repair can be.

          This concept has been a marketing staple since printing became available, and works especially well in even the most hotly competitive arenas. BTW, this is my marketing method in dozens of niches.
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  • Profile picture of the author vic1
    Any experienced IM can figure out all kinds of stuff in a very short time and be your toughest competition in a matter of a few hours. I never share keywords, niches etc...
    I won't even discuss execution of ideas anymore.

    I'll give you a perfect example. I've developed software that is really simple but very effective.
    So simple if I told an experienced IM exactly what it does, and believe me, hundreds have asked, they will have it figured out in 20 minutes and have it developed in a couple of days and become my toughest competition.

    I'm so paranoid about it, I use 2 different servers to handle a variety of functions just to keep prying eyes away.

    I do this because I know what I could do with information and I'm sure there are people 100 times smarter than me out there.
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  • Profile picture of the author yukon
    Banned
    Are you open to sharing ideas - how much do you disclose to colleagues in the same niche as you?

    Smart.

    Shoot your foot and figure out where it all went wrong later.
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  • Profile picture of the author ryanbiddulph
    I share every single thing I know for free, then, I share every single thing I know in my blogging courses and eBooks.

    Then, because I am generous, people are generous with me, buy my courses and products, and I get to live in paradise.

    Remember: only fear of running out of money prevents you from sharing all you know.

    Don't believe in lack.

    Believe in abundance.

    Give 1 farm away for free, to everybody.

    Give 1 away for a premium price.

    All the freebie folks will promote to hundreds of thousands - if not millions - of people, and some of this massive crowd will buy, helping you net a sick profit.

    I recall James Patterson giving his books away to any human being who breathed for months - other authors, hell, anybody - and now the guy's sold 250 MILLION books. His writing had something to do with it. His generosity even more.

    Happy Abundance! LOL

    Ryan
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    • Profile picture of the author TeaCozy
      Originally Posted by ryanbiddulph View Post

      I share every single thing I know for free, then, I share every single thing I know in my blogging courses and eBooks.

      Ryan
      WOW, that's very generous.

      Blogging and developing eBooks is a fantastic way to share information and I know I've personally gained so much from this.

      Do you find people try and imitate you or what you are sharing at all?

      I know they say that imitation is the best form of flattery I just wonder if it is detrimental that everyone knows your inner most strategies, perhaps if they know them once you have implemented them that could be another thing all together.

      Thanks for your comment.
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  • Profile picture of the author pinkknight
    There's plenty of room for everyone, especially on the good old World Wide Web. So, I really don't have these concerns like I will reveal all of my top business secrets to someone. Also, when there is so much work to do, I really don't have a single problem saying, hey I can help you right now, but I know some guys who can do a great job. I would be happy to recommend you some of them. Guess what? They do the same thing for me. After all what are we all doing here right now? If my stuff is going to help someone make more money. OK. If I'm gonna learn some good stuff here to improve myself or my services. OK again.

    It's fair to share, lol.
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  • Profile picture of the author Andyhenry
    Most people never take proper action on anything you say (even if they paid you for it), and since most of what makes the difference in a business is not the actions but the reasoning and understanding behind them, how to learn from them and improve based on feedback and monitoring - you're usually not going to create any real competition for yourself by sharing basic info on things.
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  • Profile picture of the author Mattj84
    You should definitely share marketing ideas with your friend! It's the law of attraction....the more good will you put out, the more good will you will receive in return. So essentially, to get what you want, you need to help others get what they want.

    Plus, when your friend comes up with a great idea/marketing method, they will feel obligated to share it/them with you. And on top of that, it can lead into even bigger things like joint ventures and what not.

    I hope that helps and whatever you decide to do, best of luck!
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  • Profile picture of the author Rory Singh
    I share 'every' single day...with my list...with my you tube subscribers and even with my Facebook friends. Some of the most successful marketers out there right now share content, strategies and even mindset principles every single day.

    There is a principle called...Invest, Learn and Teach.

    It involves 'investing' in yourself in the form of buying (online educational) products, learning and then teaching (sharing all of this 'energy') with the marketplace.

    The best way to increase your paycheck is to increase your personal value online and then share all that value back with the marketplace.

    It builds your credibility and nothing sells faster than credibility!
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  • Profile picture of the author Steve B
    Originally Posted by TeaCozy View Post

    Do you hold your ideas and business close to your chest ordinarily or are you happy to share?

    I have always believed that YOU are the business. Even though others may find out, figure out, or be told exactly how you execute your business, they can not be YOU. Their business will not be the same as your business if you are at all original, creative, and not just selling rehashed or borrowed content and products.

    I have also had others ask me for details about what I'm doing. I don't give them a "brain dump" of everything I know and do. That's not smart.

    What I do is ask the person what specific questions do they have. Almost always, they ask general sorts of things like what tools I use for a specific task, how often I email, where do I get images and graphics - stuff like that. I am not giving my business away by answering these questions.

    Most of the time, the people asking the questions are fairly new to IM and really, they don't know the best questions to ask. I only offer specifics on what they want to know. They go away happy, I have told them the truth, and they have not gained any competitive advantages from me.

    Steve
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  • Profile picture of the author Junaid khawaja
    If the information gives any sort of competitive advantage to the other, it must be charged with a fair amount.

    However, that doesn't mean you don't stop someone from jumping in a pothole while staring at you for some wisdom. I think, in any part of your life if you are at a superior position than the guy asking you for some insight, it's our moral duty to show them some direction.

    Maybe, don't grab their hand or push them hard...just a gentle nudge will suffice (even if that doesn't pay you anything).

    Thanks
    -J
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  • Profile picture of the author Jonathan S
    Ideas have no bearing in business that's why it's worthless unless put into action. An idea without implementation is dead. The truth is people is rich of ideas but poor of implementation. Idea is so easy to conceive but it needs strong motivation and passion for it to be implemented. Most of the time, same idea has been implemented differently by many sorts of people.
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  • Profile picture of the author marketingpro53
    Lose Lips Sink Ships.
    I steal ideas whenever someone slips. I pump people for information and I give information back.
    But not the info that the company invested time, cash and sweat in, that info I intend to turn into cash.
    Let me ask you this: Why would you be valuable to the deal if I knew what you knew?
    Foolish people speak unconsciously, wiser people listen and learn.
    So let;s say you are a lawyer and you find a place to advertise that brings you in business every month.
    You would be stupid to tell a competitor, He would advertise there also and you would have less money.
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  • Profile picture of the author luciesmazanska
    i think By sharing ideas and working together, everyone involved benefits and receives a bit back. Without making it known what we’re doing and thinking, it’s impossible for others to contribute to that knowledge.When you sharing, everyone is able to boost productivity at a faster pace.
    i think if you hold ideas as a currency for employment then there will come a point when that currency is worthless.
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  • Profile picture of the author ChrisBa
    Share as much as you are comfortable with sharing.

    In this industry even if you share everything, there's a large chance the person couldn't fully duplicate what you have going.

    Keep in mind, this is a reciprocating relationship, make sure you're getting good enough back from the person who you are sharing with.
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