To stay in stealth mode, or not to stay in stealth mode? That is the question many have been asking recently in the startup community.
While many successful startup artists have backed discussing their businesses or ideas in front of as many people who will listen, there are also many advantages to keeping your startup a secret.
Stealth mode is the term that startups use when they are not telling anyone their industry or product yet. Once seen as overly paranoid, this strategy is rising in popularity among startups whose ideas aren’t fully developed.
Why should your startup consider staying in stealth mode? Here are a few reasons to consider:
- Your competitors won’t see you coming,
- You can make big mistakes on the down low,
- It’s easier to filter feedback.
- You’ll figure out the business model without confusing users.
- You’ll have better information to present to potential investors.
The fact that stealthmode is even such a hot topic these days is also interesting. It is a sign of the times when a business is paranoid about announcing its existence. Not too long ago, it was important for new businesses to let others know their intentions, particularly in the business community, so that loans could be acquired and advice could be doled out. But now, with Facebook, Twitter, smart phones, and a 24/7 news cycle, it’s virtually impossible to launch a business without a Monday morning quarterback making snarky comments, or a competitor claiming you stole their idea, and you owe them 50 billion dollars (sorry, had to make a Winklevoss reference).
Is stealthmode a good strategy? Or is putting your half-baked idea in front of an educated, connected, and picky public the best way to fine-tune your business strategy? Let us know your thoughts, below.