The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Why are we so vague about our businesses ?

The Entrepreneur's Forum for learning how to build wealth and financial freedom the Fastlane way!

Say "NO" to mediocre living rife with jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence. Join our forum with more than 70,000 entrepreneurs who are making it happen.
Join for FREE Today
Get the books
Remove ads? Join Fastlane INSIDERS
(Registration removes this block)
Anything related to matters of the mind

Fassina

Contributor
Read Fastlane!
Read Unscripted!
Nov 13, 2018
81
91
25
Brazil
Sure privacy, but other than that.

I mean if we are following the principle of Entry why should we worry about people knowing more about our businesses ?
Some people aren't following the principle of Entry of course and that makes sense for them, but even those that do seem to keep their business a 'secret'.

Is there a reason for this ? Or is it just how our culture is ?
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Raoul Duke

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Feb 26, 2016
2,128
6,864
Sure privacy, but other than that.

I mean if we are following the principle of Entry why should we worry about people knowing more about our businesses ?
Some people aren't following the principle of Entry of course and that makes sense for them, but even those that do seem to keep their business a 'secret'.

Is there a reason for this ? Or is it just how our culture is ?

IMPORTANT! - Why All The Secrecy? Here's Why...

@biophase & @JasonR know first hand why to keep it a secret.
 

Scot

Salad Dressing Empire
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 10, 2016
2,975
13,912
Florida
Join the inside and you'll see how much people truly share. I've essentially laid out a play book for how to start a food business step by step...

And I beleive my specific market is untapped...

So.. why would I hand the keys to potential competition?

Also, not everyone on the forum is honest and ethical. Like @Raoul Duke pointed out, there are some cheats who just blatantly steal from others.
 

biophase

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 25, 2007
8,372
39,085
Scottsdale, AZ
Sure privacy, but other than that.

I mean if we are following the principle of Entry why should we worry about people knowing more about our businesses ?
Some people aren't following the principle of Entry of course and that makes sense for them, but even those that do seem to keep their business a 'secret'.

Is there a reason for this ? Or is it just how our culture is ?

Because they are always copycats so why give them more info to go off of?
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

The Abundant Man

Gold Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
Jul 3, 2018
1,430
2,113
Law 3: Conceal your intentions. Keep people off-balance and in the dark by never revealing the purpose behind your actions. If they have no clue what you are up to, they cannot prepare a defense. Guide them far enough down the wrong path, envelope them in enough smoke, and by the time they realize your intentions, it will be too late.



Law 4: Always say less than necessary. When you are trying to impress people with words, the more you say, the more common you appear, and the less in control. Even if you are saying something banal, it will seem original if you make it vague, open-ended, and sphinxlike. Powerful people impress and intimidate by saying less. The more you say, the more likely you are to say something foolish.



Law 5: So much depends on reputation – guard it with your life. Reputation is the cornerstone of power. Through reputation alone you can intimidate and win; once you slip, however, you are vulnerable, and will be attacked on all sides. Make your reputation unassailable. Always be alert to potential attacks and thwart them before they happen. Meanwhile, learn to destroy your enemies by opening holes in their own reputations. Then stand aside and let public opinion hang them.



-48 Laws of Power by Robert Greene
 

RazorCut

Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
May 3, 2014
2,033
7,158
Marbella, Spain
Also what you actually see here is a small community. However lets not forget that there is a huge number of people who read these threads who have never posted and never contributed here (the forum is pushing up towards 50k members now). You never know who is reading your posts.

I put up a post some time ago about an idea I was toying with for what could be a very profitable invention. I had quite a few private messages from people who had never posted publicly then (or since I believe) offering me 'help' with my new idea.

I declined.
 

Xeon

All Cars Kneel Before Pagani.
Read Fastlane!
Read Unscripted!
Speedway Pass
Sep 3, 2017
1,901
3,851
Singapore
Well OP, how bout you set an example and post your business here, with all your manufacturers and suppliers' names and contact details (which you spent 8 weeks to nail down), together with the idea behind your product, where you intend to take your branding, what channels you are going to distribute and market through, as well as your exact target market and list of competitors?

Maybe you can compile that into a PDF as well for my convenience so it'll be easier for me to start a new business based on your business. But don't worry, I won't copy you exactly, just make a few additional value skews here and there with a better logo too. :)
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

JasonR

Maverick
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
May 29, 2012
2,099
11,251
Traveling
If you go to the summit and local meet ups, you'll find a lot more trust is developed and fostered by making real life, in-person friends.

The forum is great, but I don't know how many people are lurking here - certainly there are tons of unregistered lurkers reading the forum. I don't know these people, so why would I trust them?

I have no problem telling someone I meet in person or what my business is, but I'm not going to document it online where 90% of the readers are strangers.

It's not just a problem on internet forums: read about Microsoft, Apple, and IBM copying each other's ideas as well.
 

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
566
1,166
Various
It's an exaggeration that you can just divulge all your ideas because "ideas are worth nothing compared to execution".

Everyone knows you don't divulge full ideas outside of bringing them to market. You have no idea how common parasitic filth are. There are hordes of "businessmen" who's entire business is to copy-and-undercut-the-leader as fast as possible -- execution with no idea. This fantasy that most businessmen are blue-sky entrepreneurs is not remotely founded in reality.

A big chunk are desperate blunt instruments hacking and slashing their way to force dollars through the door, whatever tactics it takes short of a policeman coming in the door with it. Always grease your ankles.
 

Fassina

Contributor
Read Fastlane!
Read Unscripted!
Nov 13, 2018
81
91
25
Brazil
Thank you all for the great replies, I hadn't considered increased ad cost and decrease of customer trust in the category caused by bad copycats.

Well OP, how bout you set an example and post your business here, with all your manufacturers and suppliers' names and contact details (which you spent 8 weeks to nail down), together with the idea behind your product, where you intend to take your branding, what channels you are going to distribute and market through, as well as your exact target market and list of competitors?
Sure ;P

Come on you know I didn't mean it like that.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 23, 2007
34,931
137,903
Utah
Do you sleep with the tent open while camping in the Amazon jungle?

Surely a couple of mosquito bites won't hurt ya...
 

Andy Black

Help people. Get paid. Help more people.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
May 20, 2014
14,853
55,646
Ireland
Law 4: Always say less than necessary. When you are trying to impress people with words, the more you say, the more common you appear, and the less in control. Even if you are saying something banal, it will seem original if you make it vague, open-ended, and sphinxlike. Powerful people impress and intimidate by saying less. The more you say, the more likely you are to say something foolish.
Well that’s me screwed then...
 

Andy Black

Help people. Get paid. Help more people.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Speedway Pass
May 20, 2014
14,853
55,646
Ireland
@Fassina

People either post details of their business and then won’t post detailed progress updates, or the opposite where they don’t post details of the business but post detailed progress updates.

The thinking, reasoning, challenges, ups, and downs of our journeys are far more enlightening than seeing a snapshot of our businesses at a specific point in time.

I’d much prefer to not know someone’s business but get some of their blow by blow personal journal.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Get Right

Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 16, 2013
1,306
6,099
Sunny Florida
I mean if we are following the principle of Entry why should we worry about people knowing more about our businesses ?

Mine's pretty open (progress thread below). What else would you like to know?
 

Arrived2015

Contributor
Dec 30, 2014
35
54
55
England
eliquid said:
Because once people know about it, it opens the floodgates
Especially when it's a floodgate to the race to the bottom!

You price at $xxx,xxx
First copycat/competitor prices at $xx,xxx
Second copycat/competitor prices at $x,xxx
Third copycat/competitor prices at $xxx
Fourth copycat/competitor prices at $xx
Fifth copycat/competitor prices at $x

until...

FREE

and yet,

your services/products can go this way in reverse too where you start at bottom pricing with free then work way (or go straight) to the top knocking the copycats/competitors outta the way!

Must admit I had the same question as you when started looking for methods/strategies of 'earning' online and slowly discovered the reasons given above by the other members here. I really did believe there was some 'secret-members-only' club that you had to join because the most innocent of questions I had where met with a stare or an ignore

:blank:

Will you ever have a sole product/service though?

How many brands of sandwiches, mobile phones, sellotape, chairs, trainers/sneakers, pens, beers, story plots, crisps, keyboards, calendars, cooking utensils etc etc are there? Copyrighted or patented? (Meaning all products/services are open to copycats/competition)

My 2cents is, once you start earning, I'm certain that you'll be able to answer this question yourself;)
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Must Read Books...

Explore books recommended by MJ DeMarco and other members of the Fastlane entrepreneurial community.
Fastlane Bookstore
Top