Lessons Learned: Hubdub CEO on why being stealth isn't smart

Bambi Francisco Roizen · July 8, 2008 · Short URL: https://vator.tv/n/2ce

We've been doing this "Lessons Learned" series for a year, and one lesson that entrepreneurs mention often is the one about staying stealth vs. being open. Many entrepreneurs realize that keeping an idea to themselves actually hurts them more than it protects them. "Every new entrepreneur fears that they have such a great idea, and if they tell somebody than that person is highly likely going to take it and launch it in a weekend," said Nigel Eccles, CEO and founder of Hubdub. Looking back to the 16-hour days when he and his team launched Hubdub made him realize that it takes a lot of work just to get a project off the ground. What's more, just because an idea is shared doesn't mean anyone even gets it, Nigel said. 

"You have to ram the idea down people's throats before they say, 'Yeah it might work,'" he added.

The other mistake that entrepreneurs make is building businesses that are too big to start. Based on his experience at a startup back in 2000, he's a bit tainted. "It scarred me a bit from spending a lot of money, and hiring lots of people."

For our archive of lessons for entrepreneurs, click on "Lessons and advice."


   

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Bambi Francisco Roizen

Founder and CEO of Vator, a media and research firm for entrepreneurs and investors; Managing Director of Vator Health Fund; Co-Founder of Invent Health; Author and award-winning journalist.

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Hubdub Ltd is a VC funded start-up based in Edinburgh and San Francisco that aims to be the world’s largest developer of premium social games for sports fans. Its main product, FanDuel, transforms traditional fantasy sports ($1bn, 30m people market) into an instant gratification daily game where users win cash prizes every day. It is played on FanDuel.com, via white label partners such as Philly.com, and in future on Facebook and mobile.

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