The Right Questions · Friday, May 26, 2017

Should you share your business idea?

Advice from Audry Larocque and other entrepreneurs

Entrepreneurs that are developing a business confront a dilemma: to keep their business idea to themselves and avoid having it copied or reveal it in order to receive feedback. Here are a few Quebec entrepreneurs with valuable advice!

This video in only available in French.

According to the entrepreneurs interviewed for our web series The Right Questions, it’s better to share your business idea in order to confirm that it is as relevant as you believe it to be.

This is specifically the advice of Zara-Emmanuelle Villani of Enveloppe concept. 

 “You need to test your idea. You need to survey people to see if there is a demand for the product or service.”
– Zara-Emmanuelle Villani 

Audry Larocque, entrepreneur and investor, emphasizes that talking about your business concept will allow you to crystallize the idea and work on the presentation of your business, commonly referred to as your pitch.  

“You need to talk about your idea as often as possible and as quickly as possible. Obviously it needs to be recognizably intelligent. The people you will be discussing it with do not have time to develop your project. You will be obliged to explain yourself and sell your project to people who are not yet sold on the idea.”
– Audry Larocque

David Parent of PixMob thinks that talking openly about your business idea allows it to evolve, even when it is based on a new technology.

“The more you talk about your idea, the more likely you will meet people that will help you develop it. It’s essential to talk about your idea. Even with new technology, not talking about it will have more negative effects than positive effects.”
– David Parent                                                                                                                                                                                                    

See also : Do you need to like taking risks in order to start a business?

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