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The $15,000 lesson about keeping secrets


Issue #151 | July 15th, 2025

Hi, it’s Pat!

In 2010, I had what I thought was a brilliant idea for a software plugin. I was so convinced it would be a game-changer that I kept it completely secret. I didn’t want anyone stealing it.

For six months, I worked with a developer, spending $15,000 of my own money to build this "revolutionary" tool.

When we finally finished building it, I excitedly showed it to a few trusted people, expecting them to be blown away. Instead, they immediately pointed out obvious flaws and told me it wouldn't work as intended. Even worse, they started sharing ideas about how it could be better and what features it should have had instead.

The problem? My budget was already blown. I had to scrap the entire project without ever launching it.

Total spent: $15,000.

Total earnings: $0.00

That expensive lesson taught me something crucial: The fear of someone stealing your idea will cost you far more than someone actually stealing it ever could.

Let’s dive deeper into this, and let’s get unstuck.

Quote of the Week

“If you want to go fast, go alone. If you want to go far, go together."

—African Proverb

Story of the Week

The Secret-Keeping Trap

Here's what happens when you keep your ideas locked away: You rob yourself of the most valuable resource in the creative process — feedback.

Working in isolation blinds you to obvious problems, causes you to miss critical features your audience actually wants, and often leads you to build solutions for problems that don't really exist. You're essentially flying blind, using only your own limited perspective to guide a project that's meant to serve others.

The irony? While you're protecting your idea from imaginary thieves, you're actually sabotaging it yourself.

Why People Don't Actually Steal Ideas

Let me share some uncomfortable truths about idea theft:

Most ideas aren't as unique as you think: Chances are, multiple people have already thought of your "revolutionary" concept. What matters isn't the idea — it's the execution.

Execution is exponentially harder than ideation: Having an idea takes minutes. Building, marketing, and scaling it takes years of dedicated effort that most people aren't willing to invest.

Your specific perspective is irreplaceable: Even if someone copies your idea, they can't copy your unique background, relationships, and approach to solving the problem.

Successful people are too busy: The people capable of executing your idea well are already working on their own projects.

The Power of Sharing Early and Often

When you share your ideas openly, magical things happen:

  • You get free market research: People tell you immediately if your idea solves a real problem they’re facing.
  • You discover blind spots: Others see flaws and opportunities you've missed because you're too close to the project.
  • You build an audience before you build a product: Those who give feedback often become your first customers.
  • You attract collaborators: The right people want to help make good ideas better, not steal them.
  • You refine faster: Multiple perspectives help you iterate quickly, so you don’t waste time perfecting the wrong thing.

The "Idea Validation" Framework

Here's how to share your ideas strategically:

1. Start with Your Inner Circle: Share your idea with 3-5 trusted friends or colleagues. Ask specific questions like: "What problems do you see with this?" and "What would make this more valuable to you?"

2. Expand to Your Target Audience: Post in relevant communities, forums, or social media groups. Frame it as a request for advice, not a sales pitch.

3. Create Content Around the Problem: Write blog posts or create videos about the problem you're solving. See how people respond and what questions they ask.

4. Build in Public: Share your progress, challenges, and learnings as you develop the idea. This builds anticipation and keeps feedback flowing.

What to Share (and What to Keep Private)

You don't have to share everything.

Here's what to be open about:

  • The problem you're solving
  • Your general approach
  • Early prototypes or mockups
  • Challenges you're facing

What you can keep private:

  • Specific technical implementations
  • Detailed business models
  • Proprietary processes
  • Launch timing and strategy

Remember, your ideas are only as valuable as your ability to execute them. And execution gets infinitely better when you have the wisdom of others guiding your path.

Here's to building in the light, not in the shadows!

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My Latest Podcast Episode!

Writing a book is tough, but getting people to buy it is even tougher.

In this episode of The Smart Passive Income Podcast, I sit down with SPI CEO Caleb Wojcik to unpack the entire journey of launching my new book, Lean Learning. We discuss the ups, downs, and behind-the-scenes moments that ultimately led to making both the New York Times and USA Today bestseller lists.

I also reveal the strategies that worked and the challenges that made me question if anyone even reads anymore. From podcast tours and bonus-driven sales to bulk orders and the surprising role of TikTok, this episode covers it all!

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Cheers,

Pat Flynn

Founder, SPI

Dad Joke of the Week

Here’s a joke about pizza…

Never mind, it’s too cheesy.

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