Should I Keep the Idea to Myself or Share it? Exploring Open and Closed Innovation

In a recent sessions of my initiative, Konnect with KK, I came across an intriguing question: "Should I keep my idea to myself or share it with others?"

When it comes to innovation, the question of whether to keep ideas private or share them is a common dilemma faced by every innovator, creative individual, or entrepreneur, regardless of their experience level.

While there may be numerous arguments on both sides, I belive and live by this fact that, the true answer lies deeper in understanding the nature of innovation itself. The distinction between open innovation, where collaboration and shared knowledge thrive, and closed innovation, which values secrecy and control, plays a key role in determining the right approach for your ideas.

First Understand Open and Closed Innovation

Open Innovation embraces the sharing of ideas with external partners, allowing for collaboration, feedback, and contributions from others. This approach recognizes that leveraging external knowledge can accelerate development and introduce creative, unexpected solutions, fostering growth through collaboration.

On the other hand, Closed Innovation is when a company develops ideas and products internally, keeping them proprietary and secret from outside entities. This approach focuses on maintaining full control over intellectual property, protecting the competitive advantage, and minimizing risks of idea theft.

Example of Closed Innovation: Apple

Apple has thrived using a closed innovation model. They maintain strict control over their product development process, ensuring that they protect their intellectual property and brand image. While this allows them to stay unique and consistent, it can limit the influx of fresh, external ideas.

Example of Open Innovation: Procter & Gamble

On the other hand, Procter & Gamble uses an open innovation strategy, tapping into external sources for ideas and development. They actively collaborate with inventors, universities, and even competitors to innovate, which has expanded their ability to innovate quickly and efficiently.

So how you decide ?

To help you decide whether you are in an open or closed innovation environment, ask yourself the following questions:

• Why are you innovating?

Understanding the core reason behind your innovation is key. Is it to stay competitive, solve a market need, understanding your customers or disrupt an industry?

• How much control do I want over the idea?

Do I want to maintain complete ownership and control over the development process, or am I willing to share my idea with others for input and collaboration?

• Do I need external expertise or resources?

Can I develop the innovation internally with my current resources, or would collaboration with external partners help accelerate progress?

• What’s my risk tolerance for sharing?

Am I comfortable sharing my idea with others knowing there’s a potential risk of idea theft, or is maintaining secrecy more critical to my strategy?

• What’s more important: speed or control?

Would external partnerships help me bring the product to market faster, or would I rather take my time developing it independently to ensure full control over intellectual property?

These questions can guide you toward choosing a model that best fits your innovation journey.

Also understand the Importance of Team in Innovation

A strong team is key to leveraging either open or closed innovation. In open innovation, the team serves as a bridge between internal processes and external collaborations, bringing in new perspectives and solutions.

In closed innovation, a cohesive, focused team is crucial to refining and executing the idea while maintaining secrecy.

The Verdict

Whether to keep your idea closed or open depends on your goals and stage of development. However, collaboration often brings fresh insights, and building a strong, adaptable team is essential regardless of the approach. Sharing ideas can accelerate growth, improve execution, and enhance innovation through diverse perspectives.

Remember, innovation is a team sport!

And always, as you innovate, ask yourself: What’s next? Kamaljeet Kainth