Remember when our parents taught us the importance of sharing? That simple lesson, often illustrated with shared toys or split snacks, was more than just a way to keep peace in the playground. It was preparing us for a fundamental truth in life and, as it turns out, in business.
As children, we learned that sharing often led to more fun, stronger friendships, and new experiences. In the business world, these same principles apply, albeit on a larger scale. Sharing your knowledge, processes, and insights – the very things that make your business unique – might seem counterintuitive. After all, isn’t this the secret sauce that sets you apart?
But what if, like those toddlers with the apple, the act of sharing could lead to something greater than what you started with?
In today’s business landscape, there’s a common belief that holding your cards close to your chest is the key to success. Many entrepreneurs guard their intellectual property (IP) fiercely, believing that their unique processes, strategies, and ‘secret sauce’ are what set them apart. But what if I told you that sharing your IP could actually be your greatest business strategy?
Let’s be clear: we’re not talking about legally protected IPs like patents or trademarks. We’re referring to the knowledge, processes, and insights that make your business tick – the ‘how’ behind your success.
It’s understandable to be hesitant about sharing. After all, you’ve invested time, energy, and resources into developing your methods. There’s a fear that if you give away your ‘secrets’, competitors will swoop in and steal your customers. But this fear often proves unfounded, and here’s why:
Expertise is more than information. While you can share information, you can’t transfer years of experience and expertise. What truly sets you apart is your ability to apply knowledge in unique situations, adapt to challenges, and innovate on the fly.
Constant evolution. In today’s fast-paced business world, what works today might not work tomorrow. By the time others implement your shared strategies, you’ll likely have evolved and improved your methods.
Building trust and authority. Sharing your knowledge positions you as an expert in your field. It builds trust with potential clients and establishes you as a thought leader in your industry.
The benefits of sharing
By openly sharing your processes, you attract clients who value your expertise and approach. They come to you not because you have a secret formula but because they trust your ability to execute effectively. When you freely share valuable information, you often receive the same in return. This can lead to collaborations, partnerships, and new opportunities.
Sharing knowledge fosters a culture of learning and innovation within your organisation. It encourages your team to constantly improve and refine processes.
Real-World Example: The Futur
Chris Do, founder of The Futur, is a prime example of the power of sharing IP. Through his YouTube channel and online courses, he shares in-depth knowledge about design, business strategies, and client management – essentially giving away the ‘secret sauce’ of his successful design business.
Rather than losing business, this approach has catapulted The Futur to immense success. By sharing openly, Chris has built a loyal following, established himself as an industry leader, and created multiple revenue streams through his educational content. (thanks to Jayson from Urlich Studios for sharing this with me.)
MasterJack’s approach
At MasterJack, we’ve embraced this philosophy of sharing. We’ve created 12 DIY articles that guide businesses through their own content marketing efforts. By providing these resources, we’re not afraid of losing business. Instead, we’re demonstrating our expertise, building trust with potential clients, and attracting those who value our deeper insights and hands-on support.
As a business leader, adopting this mindset of abundance rather than scarcity can transform your approach to business. Instead of guarding information, focus on continuously creating value for your clients. By sharing openly, you push yourself to constantly innovate and improve.
Be generous
In a world where information is readily available, true value lies not in hoarding knowledge but in the ability to apply it effectively. By sharing your IP, you’re not giving away your competitive edge – you’re sharpening it. You’re building trust, establishing authority, and positioning your business as a leader in your field.
Remember, your greatest asset isn’t a secret process or a hidden formula. It’s your ability to continuously learn, adapt, and deliver value to your clients. By sharing openly, you’re not losing your edge – you’re proving why you’re the best choice in a sea of options.
So, take a leap of faith and share your knowledge generously. You might just find that the more you give, the more you receive in return.