Am I too dumb to share my trade secrets for free ?

By Tony Lam

  • SumoMe

I am pondering about my friends’ advice from day one when I tried to share my experience in selling on eBay. They reminded me to be careful that my competitors will take my ideas to attack me.  I didn’t  take the advice serious until lately when I read some stories from other bloggers about the consequence of disclosing trade secrets to the competitors.

I was not born to be a seller. It was my friend who helped me out to start this business in 2009 when I was out of job. My friend was taught the nitty-gritty by a veteran eBay seller who spent more than 10 years in selling eBay. With detailed step by step coaching from my friend, I could be able to jump start my own business and avoid a lot of side tracks and hurdles that prevent me from moving forwards.

trade secrets

trade secrets

In the business world, everything is changing very fast. New products and new business opportunities arise every day. As long as profitable ways to make money are discovered, people will rush to follow suit and hope to get a share of the gold mine. As more and more people get into it, the earning opportunity becomes more difficult.  In most of the time, the business trade secret behind contributes the key factor for success, such as the secret formula of Coke. If the trade secrets of a company once opens to public, it’s privilege position in the market will disappear and it will take some time to brew another profitable ideas.

Questions to be answered

In my posts, I tried to share my own experience to earn money on eBay. They include viable tools, business ideas, and feasible ways of working by showing testing data and result. This is my success model or blue print to get the proven result.  I helped two sellers last year to start their eBay businesses from scratch. They have no idea about the ways to make money on eBay such as price set up, packaging and handling customer complaints etc. By following my suggestions, one got more than 500 positive feedback within a year. The other got a few hundred positive feedback without actively working on it. They put up only a few listings (less than 10) and repeatedly selling them. I noticed that my business share dropped because of this. I don’t mind the loss in business since they are my friends. What if they are my competitors whom I never heard of. Am I too dumb to disclose my trade secrets and let them to take away my profit?  If you were me, are you willing to do so ? Are there any good reasons ? I’m open to your input regarding to this topic.

Category: Online Business

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