Business
Expert Chides Entrepreneurs On Business Idea Ownership
A Nigerian entrepreneur and business expert, Obinna Chris-Nwoji, has said the success of a business depends largely on the methodology of execution rather than the originality of ideas.
Chris-Nwoji shared his thoughts on the often misunderstood notion of idea ownership in the world of business and wealth creation.
According to the founder of Papiee’s Meatro and Okonkwo, one of the biggest restaurants in Abuja, many people in the wealth creation value chain have not been able to offer the most appropriate explanation to the frequent complaint: “They stole my idea”.
Chris-Nwoji’s stated that his journey into the hospitality industry was unexpected. Despite not planning to enter this field, he successfully built Papiee’s Meatro into a thriving business, demonstrating the power of adaptability and execution.
As Nigeria’s business world continues to evolve, Chris-Nwoji’s insights serve as a reminder that while ideas spark up creativity, it is the commitment to execution that ultimately defines success in entrepreneurship.
He said in an interview with newsmen in Abuja, “I honestly don’t think anyone can steal your idea”.
He explained that most ideas are not entirely new but are often adaptations of existing concepts.
“Most ideas are a remix of something that already existed. Ideas are everywhere, execution is the superpower”, he emphasized.
He noted that turning ideas into reality is often hindered by several challenges, including lack of finance.
He suggested that when others seem to “steal” an idea, they are usually adding their own unique elements or using resources the original creator might not have had.
“Execution, experience, and money… Sometimes it might just be luck or timing”, he stated, noting that “They didn’t steal your idea, they just added something extra that you didn’t have”.
He acknowledged life’s inherent unfairness and encouraged aspiring entrepreneurs to adapt and persevere despite obstacles.
“Life is unfair, you may say, but let’s get used to it”, he advised.