3 ms·
Let's be more clear on two points: (1) The Idea. So, sure, mail subscription candy to Japan is an idea, a business idea, that is, a short description like mig
by graycat 11y ago
Let's be more clear on two points:
(1) The Idea.
So, sure, mail subscription candy to Japan
is an idea, a business idea, that is,
a short description like might be given
to a prospective customer, supplier, banker,
investor, prospective employee, etc. Such
a business idea can be really important.
(2) Secret Sauce. In addition to a business idea,
sometimes there is secret sauce that
enables the execution of the business idea
and, maybe, is intellectual property,
e.g., to be protected as a trade secret,
and that maybe can provide a barrier to
entry. Such secret sauce might be
technical -- from biology, physics,
math, engineering, technology,
etc.
Generally once a business has customers,
the business idea (1), at least in
broad terms, becomes quite well known.
Then it can be good to have some barriers
to entry. Some of those might be
the secret sauce (2). Some more might be
VC Fred Wilson's "large network of
engaged users", a "network effect", a
brand name, etc.
To many people what is crucial about
(2) secret sauce are ideas --
since they may be important to a business,
business ideas. But commonly
very much we want to protect the
secret sauce ideas and not let
them be stolen.
So, some business ideas we very much do
not want to let others steal them.