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Cape Town - Business coach and adviser Anton Ressel warns against "obsessing" over an idea, because it may not be yours in the first place.
He says that only if your idea is truly groundbreaking or revolutionary - like a cure for cancer or a tree that grows money - should you go to extra lengths and protect it.
"Don't obsess over protecting your IP (intellectual property), rather focus on building a brand that's strong, viable, workable and when it looks like a proof of concept is viable, then you can look at protection potentially," Anton advises.
In short, instead of worrying over your idea being stolen, rather spend your money on creating awareness and put effort into building a solid, powerful brand that people would want to support and want to be associated with.
WATCH this week's episode of #EntrepreneurCorner for more:
Did you find this useful? We need your input to identify your most pressing issues. Send us your questions. Anton will answer as many as possible in future shows.You can also engage with us on Fin24's Twitter and Facebook pages. Look for our hashtag, #EntrepreneurCorner.
ICYMI, watch the previous episodes of #EntrepreneurCorner below:
WATCH:#EntrepreneurCorner: Why it's crucial that you pay yourself first
WATCH: #EntrepreneurCorner: Make it easy to do business with you
WATCH: #EntrepreneurCorner debuts: The funding conundrum
You may also find these past articles from Anton useful:
- Know when to give up if your business isn't working
- Advice for starting own Vodka brand
- Geologist struggling to get started
- Fast food: Business registered, now what
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