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Why All The Secrecy? Here's Why...

Yasai

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Uh sure.
At the moment, I'm pretty much a wantrepreneur hehe. I'm currently creating a product, just to learn the ropes and see how it all works.
If I ever become really successful, I'll probably share my results and how I achieved them with others. The "Event" AND the "Process".

I'd also like to mention that I'm EXTREMELY curious, trying to learn from the "big guys" in certain fields (successful entrepreneurs/marketers/etc.) especially the way they think about money and how to make it.

MJ has been a huge inspiration in that regard. Thanks for that by the way. I hope he will read this someday. I'm extremely grateful I found TMF and TFF.
 
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edward222

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Business is like accepting the risk and beat all the competitors.
People may don't have any idea about your product/services, but if you teach them how to use the product/service
your product will BOOM!..

Just like the Nike shoes, the first place they want to sell their shoes is in Africa, when they got there, every man in Africa doesn't have shoes nor slippers. So what they did is that they teach them how to use the shoes, and now, Nike is a giant company.
 

Oswalito

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Great thread. I wish I could share with you guys what my project is all about but it's so early in its infancy. I feel like I can't share with anybody online as much as I'd love to because I'm very passionate about it.

Although I took an existing service people already widely know about and made improvements, I feel like my execution is what is going to set my service apart from the rest and possibly change an industry for the better.

Maybe the day I can afford to subscribe to the INSIDERS section lol.
 
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obrian

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i understand what you are saying but sometimes it depends because some ideas are hard to execute and those are ideas that makes it really big, for instance why is microsoft still dominating the software market and wht isn't their another apple company with cool design and an amazing product.​
 

Lex DeVille

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I tried giving my last brilliant idea away.

Nobody wanted it.

Wtf?!

Now you have to ask yourselves...

Did the idea suck?

Or, did I reverse psychology all of you into not competing with me?

Muahahahahahaha :punch:
 

mws87

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What about a friend who "wants in" on everything? I don't by any means have a business, not even a niche (yet). I've had some ideas here and there which I've sense dismissed (lack of huge value). A buddy of mine (we'll call him friend #1) is pretty business oriented. Works the same slowlane sales job as me, has some good ideas but knows a lot about back end. Every time I mention the idea of doing something, he kind of invites himself into it. Another friend I work with (#2) is now beginning to do the same (I've actually got him onto TMF ).

So finally, friend #3. Very, VERY close friend of mine, I wouldn't be surprised if he was a product of my imagination for having a lack of siblings growing up. He has great ideas, you get me and him together and ideas come about. He's the inventor type. He has some terrific ideas we were talking about, told him said ideas not only would provide great value, but would have several options for recurring income. He, for some reason, isn't a big action taker, though. So, being a friend, I refuse to "run with" his idea or try to flip it. Anyhow, I just mentioned something to #1, didn't tell him the idea, just mentioned my buddy has a great idea but is refusing to market it. #1 says "well, we can always put a spin on it and cut him some money". I was immediately turned off and never talked to #1 about it again.

I've since stopped talking about ANY ideas, plans, etc to #1 and #2. Luckily, no specifics were made about #3's ideas, I just said in fact that he has "an idea". Luckily, #1 and #2 aren't big action takers and aren't of the right mindset, luckily I learned early to not give details to ANYONE. I don't even like talking to my significant other about anything related to business (she finds everything unrealistic).

What would you consider the one who always wants in or tries to include themselves in everything? Little brother syndrome?
 
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tafy

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I've since stopped talking about ANY ideas, plans, etc to #1 and #2. Luckily, no specifics were made about #3's ideas

You are thinking of ideas as if they are gold and actually worth something, ideas are worthless. You mention your friend had some great ideas but wont take action, but you also dont want to run with great ideas because your friend came up with it? Sad man, just sad.

I got an idea for you totally free, pm me and I will give you few of them. Add me on skype and any great idea I get ill pass it onto you.
 

mws87

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You are thinking of ideas as if they are gold and actually worth something, ideas are worthless. You mention your friend had some great ideas but wont take action, but you also dont want to run with great ideas because your friend came up with it? Sad man, just sad.

I got an idea for you totally free, pm me and I will give you few of them. Add me on skype and any great idea I get ill pass it onto you.

As I said, I've dismissed the ideas. I'm not making the ideas out to be some holy grail, I was talking more about the "cling" factor I've been getting, the others inviting themselves into an idea that, because they weren't gold, irked me a bit. But, I do understand where you're coming from.

Sure, ideas are worthless until action is implemented. The point I was trying to make was learning to cut off vocalizing anything, even to friends. Had it been something that had value and I was ready to take action on but blabbed to someone about it who took action before me, I would have been out.
 

tafy

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Had it been something that had value and I was ready to take action on but blabbed to someone about it who took action before me

Yeah ok I get where your coming from also, but to me you are in a scarcity mindset. Your scared of talking about your idea in case someone takes action on it, I mean if it is such a good idea that one person taking some action on it spoils it for you then it was a bad idea in general or very very niche.
 
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mws87

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Yeah ok I get where your coming from also, but to me you are in a scarcity mindset. Your scared of talking about your idea in case someone takes action on it, I mean if it is such a good idea that one person taking some action on it spoils it for you then it was a bad idea in general or very very niche.
Good point, man. I notice a lot of people take feedback badly, but I actually really dig your answer and you're right. :)
Time to continue revamping the mind.
 

Yasai

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The point I was trying to make was learning to cut off vocalizing anything, even to friends. Had it been something that had value and I was ready to take action on but blabbed to someone about it who took action before me, I would have been out.

If it's really something that other people could massively benefit from, why would you try to keep it to yourself? Just to extract some petty coin from it?

Could it be that you dislike your friend's eagerness to "grab an idea and turn it into a reality" because you see your own greed in him/his behaviour?
You interpret his motivation to "be in" on something as clinginess, rather than as a wish to create something that you and your friends seem to be too hesitant to create.

If you think an idea is good and that people (or in some cases: animals, the environment, etc.) could benefit from it, it should be more important to you to turn it into a reality ASAP. And if you can find the right "teamplayers" who are WILLING to take action, why hesitate? Why discard them?

Even IF they take the idea and keep ALL the profits, there will be new ideas you can start to make "real". Be happy that this particular mind-child gets to "grow up" and be helpful to people in the real world instead of withering away in a "if only" or "what if" hypothetical scenario inside your brain.

Money won't run away. In fact, money gets PRINTED every day. There's enough to go around. But it's unlikely you'll ever see any remarkable amounts of it if you don't build a vessel or a magnet for it. A service, a product, something of value etc.

It's not so much about "getting money". It's more about "giving value and the money will follow" isn't it? ;)
 
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Justin W.

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In the end, I always thought publicly disclosing my business and attaching profit figures to it was like letting a bunch of mosquitoes into my bedroom -- yea, they won't kill me, but they will bite me here and there, and ultimately, annoy the f*ck out of me.

I must admit, I always loved your crystal-clear analogies.
 

azntitan

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What about a friend who "wants in" on everything? I don't by any means have a business, not even a niche (yet). I've had some ideas here and there which I've sense dismissed (lack of huge value). A buddy of mine (we'll call him friend #1) is pretty business oriented. Works the same slowlane sales job as me, has some good ideas but knows a lot about back end. Every time I mention the idea of doing something, he kind of invites himself into it. Another friend I work with (#2) is now beginning to do the same (I've actually got him onto TMF ).

So finally, friend #3. Very, VERY close friend of mine, I wouldn't be surprised if he was a product of my imagination for having a lack of siblings growing up. He has great ideas, you get me and him together and ideas come about. He's the inventor type. He has some terrific ideas we were talking about, told him said ideas not only would provide great value, but would have several options for recurring income. He, for some reason, isn't a big action taker, though. So, being a friend, I refuse to "run with" his idea or try to flip it. Anyhow, I just mentioned something to #1, didn't tell him the idea, just mentioned my buddy has a great idea but is refusing to market it. #1 says "well, we can always put a spin on it and cut him some money". I was immediately turned off and never talked to #1 about it again.

I've since stopped talking about ANY ideas, plans, etc to #1 and #2. Luckily, no specifics were made about #3's ideas, I just said in fact that he has "an idea". Luckily, #1 and #2 aren't big action takers and aren't of the right mindset, luckily I learned early to not give details to ANYONE. I don't even like talking to my significant other about anything related to business (she finds everything unrealistic).

What would you consider the one who always wants in or tries to include themselves in everything? Little brother syndrome?

I realized this about myself. I always wanted to latch onto other people, not necess. their ideas, but to have their expertise, their talent, or their skill, to "carry" me. because i wasn't sure I could do it alone. This is the sign of anyone not confident in themselves.

I've realized this is the wrong thinking.

First of all, 99% of people out there offer zero value in entrepreneurship. Either they know nothing (never read Fastlane, know nothing about the process of starting businesses), or they have zero risk-taking appetite, which means theyll never work with you from the start even if they have the skills. So if you find yourself taking on partners all the time it's a bad sign, either they are latching on so you can carry their asses and they offer zero value, or you yourself are trying to get people to join not because they have skills that will make you successful but because you simply dont 'want to do it alone. And that is a bullshit reason. MJ did it alone and a lot of other entrepreneurs have as well. Doing it alone is preferable in this day and age with all the knowledge and tools we have at our disposal.
 

randomnumber314

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Guys, you're evangelizing a bit too much. The Millionaire Fastlane isn't a bible, these statements make no sense--you don't operate in a vacuum, you need good partners whether that's your first employee, co-founder, or investor.

Stop focusing what you think you should and shouldn't do, and just do.
 
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21elnegocio

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Absolutely. My first highly successful online business was something I decided to pursue because I saw a for sale listing on bizbuysell. When I saw the website for sale, with all their financial details listed, I couldn't believe that such a simple business/site could make so much money.

Long story short I started a competing site, made my own improvements, made a small fortune, and literally cut their business in half over the next few years.

Had they simply not publically listed their revenue/net figures in their for sale listing, I would have never even noticed their little business.


Are you still selling products online ? just curious
 

MJ DeMarco

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Seems like I wasn't off my rocker. Even at the "for sale" websites they have a similar policy:

https://empireflippers.com/see-the-url/

Imagine you’re selling your website/business and the URL is live. Great, serious buyers can quickly scan to see if the purchase is right for them or not.

But… In the darkest corners of the internet live copycats, people scouring the web for profitable niches, strategies, and websites to duplicate. They see the URL, learn it’s making $X per month, and they decide to copy everything.

Suddenly, the website seller has a dozen new competitors that weren’t there before. When the website is sold, the new buyer is competing with an influx of copycats.

Despite our deposit process, there are people in online job boards who are literally posting tasks for people to visit our site, trying to find clues to determine what the URLs are. This actually happens. We’ve seen these jobs posted.
 

focusedlife

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So I was reading a great entrepreneur thread over at Reddit that @JasonR provided and the topic got downvoted pretty bad because he wasn't very forthcoming with his website address and his product. Of course, the "Redditors" called it a calamity, and even some sorted to say he was in some type of MLM.

Years ago when I owned my business, I used to frequent another forum. Back then, the business was routinely generating 6-figures monthly in profit. (PROFIT, not revenue). As I participated in the forum more and more, the more and more I was queried for my website's address.

What is it?
What do you do?
Please tell me!
Can you link to your site?

I refused each and every time and here's why:

As you know, any executed idea thrown out on the internet is ripe to be taken, copied, or borrowed. It's not unusual. The spirit of entrepreneurship is to take an idea, and make it better. Improve it. Efficiency. Convenience. Whatever that is.

However, what usually IS NOT KNOWN, is how much $$$$ that idea is making. If someone discloses "I'm making $200k/mo doing this and here's the website!" - then immediately that idea has placed a target on it's back.

The result is new competitors that enter the space, most of which, cannot execute on the idea.

So what's the problem with that? Competition is good, right?

While these competitors aren't a threat in the long term, they threaten the short term in the form of:
  1. Increased PPC / ad costs (they flood the same ad space you're in, driving costs up.)
  2. Increased customer service (Hey, did you see xxxxyyyy.com? Is that you guys?)
  3. Business model damage (After they poorly execute the same business model you're doing, it can impact your business model -- "Eh, we tried that shit, it don't work.")
IMO, the danger isn't disclosing the idea, but disclosing how much $ the idea is generating. This gives wantrepreneurs an insight into what's possible WITHOUT exposing them to the process of making it happen. In other words, they see "EVENTS"! (Wow, that site is making how much??)

Of course, the above isn't true for products/services that have strong entry barriers, or for concepts/ideas that aren't easily replicable -- those barriers usually are enough to keep the idea-hoppers away.

The point of this post is to explain WHY some people are a little weary about disclosing specifics about their company, their website, and their profits.

In the end, I always thought publicly disclosing my business and attaching profit figures to it was like letting a bunch of mosquitoes into my bedroom -- yea, they won't kill me, but they will bite me here and there, and ultimately, annoy the f*ck out of me.


So I was reading a great entrepreneur thread over at Reddit that @JasonR provided and the topic got downvoted pretty bad because he wasn't very forthcoming with his website address and his product. Of course, the "Redditors" called it a calamity, and even some sorted to say he was in some type of MLM.

Years ago when I owned my business, I used to frequent another forum. Back then, the business was routinely generating 6-figures monthly in profit. (PROFIT, not revenue). As I participated in the forum more and more, the more and more I was queried for my website's address.

What is it?
What do you do?
Please tell me!
Can you link to your site?

I refused each and every time and here's why:

As you know, any executed idea thrown out on the internet is ripe to be taken, copied, or borrowed. It's not unusual. The spirit of entrepreneurship is to take an idea, and make it better. Improve it. Efficiency. Convenience. Whatever that is.

However, what usually IS NOT KNOWN, is how much $$$$ that idea is making. If someone discloses "I'm making $200k/mo doing this and here's the website!" - then immediately that idea has placed a target on it's back.

The result is new competitors that enter the space, most of which, cannot execute on the idea.

So what's the problem with that? Competition is good, right?

While these competitors aren't a threat in the long term, they threaten the short term in the form of:
  1. Increased PPC / ad costs (they flood the same ad space you're in, driving costs up.)
  2. Increased customer service (Hey, did you see xxxxyyyy.com? Is that you guys?)
  3. Business model damage (After they poorly execute the same business model you're doing, it can impact your business model -- "Eh, we tried that shit, it don't work.")
IMO, the danger isn't disclosing the idea, but disclosing how much $ the idea is generating. This gives wantrepreneurs an insight into what's possible WITHOUT exposing them to the process of making it happen. In other words, they see "EVENTS"! (Wow, that site is making how much??)

Of course, the above isn't true for products/services that have strong entry barriers, or for concepts/ideas that aren't easily replicable -- those barriers usually are enough to keep the idea-hoppers away.

The point of this post is to explain WHY some people are a little weary about disclosing specifics about their company, their website, and their profits.

In the end, I always thought publicly disclosing my business and attaching profit figures to it was like letting a bunch of mosquitoes into my bedroom -- yea, they won't kill me, but they will bite me here and there, and ultimately, annoy the f*ck out of me.

@MJ DeMarco, It makes total sense, which is probably one of the weirdest things most people on the valley side of the summit don't yet understand.

Often, most of those that coattail on others success like to boast big numbers because, after all, that's supposed to impress.

I knew a few "gurus" and personal mentors that always wrestled with this stuff, too because, especially in the high ticket guru space, a lot of them are afraid of training their competition.

And, rightly so.

Again, makes total sense as, generally speaking, the pupil, usually, still lacks some degree of their own creativity or, instead, perhaps, rely on the examples they've anchored themselves to, which is usually whatever the hell it is the guru is doing.

They figure the guru passed on the knowledge so, therefore, they, somehow, can train others in that space as well.

That's probably why I have never (until your book, honestly) been more interested in scaling big and instead did the whole freelancer for hire thing, but, now, I want more freedom so...

How to do that....

Now, what I look for when working with others is evidence of success (without needing specifics), but I've also got my antennae tuned to pick up those other CENTS factors you've got me all fired up about.

Thank you.
 
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Greg R

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Another angle that I haven't seen mentioned is the idea that you gain value from other forum members when you share your business on the forum.

*This may be controversial*

If you read through some of the more successful progress threads, you will see a pattern.

That those who do share their product get much more out of the Forum Collective Mind than those who don't. Ultimately the execution is in the hand of the owner, but the Forum can help think through critical situations and offer great input.

Is there a way to get valuable input while being discreet? Sure. But the more information that you provide, the more that people can help.

Unfortunately, progress threads that have shown to be perceived as successful often get ripped off. And it sucks for those who put the work in.

Here you have a trade off.

If you are going to share your business, you can expect to get valuable information and resources, but you can also have the reasonable expectation to get to get ripped off if your are successful.

A high barrier to entry is a factor, but we've seen some very high barrier businesses still get ripped.

For me, I am transparent by nature and it could be my biggest flaw. In my progress thread on the INSIDE, I've revealed my industry, heck even the type of product that I am making. It really stinks that I have to hold back the rest.

To offset this, I've made incredible relationships with other forum members who help each other outside of the forum. Through DMs, phone conversations, and meetups we can all freely discuss what we are doing without worrying about the vultures. And man it is a shame that people aren't more transparent on here, because some Forum members are doing some incredible things off the Forum. But I don't blame them.
 

Odysseus M Jones

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Worth a bump since no one's commented or liked for a couple of years.
 
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Subsonic

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So I was reading a great entrepreneur thread over at Reddit that @JasonR provided and the topic got downvoted pretty bad because he wasn't very forthcoming with his website address and his product. Of course, the "Redditors" called it a calamity, and even some started to say he was in some type of MLM.

Years ago when I owned my business, I used to frequent another forum. Back then, the business was routinely generating 6-figures monthly in profit. (PROFIT, not revenue). As I participated in the forum more and more, the more and more I was queried for my website's address.

What is it?
What do you do?
Please tell me!
Can you link to your site?

I refused each and every time and here's why:

As you know, any executed idea thrown out on the internet is ripe to be taken, copied, or borrowed. It's not unusual. The spirit of entrepreneurship is to take an idea, and make it better. Improve it. Efficiency. Convenience. Whatever that is.

However, what usually IS NOT KNOWN, is how much $$$$ that idea is making. If someone discloses "I'm making $200k/mo doing this and here's the website!" - then immediately that idea has placed a target on it's back.

The result is new competitors that enter the space, most of which, cannot execute on the idea.

So what's the problem with that? Competition is good, right?

While these competitors aren't a threat in the long term, they threaten the short term in the form of:
  1. Increased PPC / ad costs (they flood the same ad space you're in, driving costs up.)
  2. Increased customer service (Hey, did you see xxxxyyyy.com? Is that you guys?)
  3. Business model damage (After they poorly execute the same business model you're doing, it can impact your business model -- "Eh, we tried that shit, it don't work.")
IMO, the danger isn't disclosing the idea, but disclosing how much $ the idea is generating. This gives wantrepreneurs an insight into what's possible WITHOUT exposing them to the process of making it happen. In other words, they see "EVENTS"! (Wow, that site is making how much??)

Of course, the above isn't true for products/services that have strong entry barriers, or for concepts/ideas that aren't easily replicable -- those barriers usually are enough to keep the idea-hoppers away.

The point of this post is to explain WHY some people are a little wary about disclosing specifics about their company, their website, and their profits.

In the end, I always thought publicly disclosing my business and attaching profit figures to it was like letting a bunch of mosquitoes into my bedroom -- yea, they won't kill me, but they will bite me here and there, and ultimately, annoy the f*ck out of me.
Hey here we have why everyone is doing window cleaning now haha.

@piano and me disclosed that we both made around 1k in our first month.

Now look at this: A business model that has no barrier to entry, aside from the willingness to do housechores. A business model that lets you make "100€ a day" in income basically the day you start. Then you really have the nail in the overdone coffin which is social proof. You see people that have nothing special about them making decent money right away.
 
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Vigilante

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Hey here we have why everyone is doing window cleaning now haha.

@piano and me disclosed that we both made around 1k in our first month.

Now look at this: A business model that has no barrier to entry, aside from the willingness to do housechores. A business model that lets you make "100€ a day" in income basically the day you start. Then you really have the nail in the overdone coffin which is social proof. You see people that have nothing special about them making decent money right away.
I haven’t been around for a while. Everybody’s doing window washing?
 

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