Have you ever had a great business idea that you held close to your chest for fear of someone pilfering it, only to find out that someone else has started a similar business proposal? Is it possible that they stole your idea somehow? Well, anything is possible, but chances are there was no foul play involved.In reality, the amount of time, money and perseverance needed to action even the most simplest of business plans is more than many are willing to take on. If it is your idea, then you are passionate enough about it to take whatever necessary steps to make it happen.The person that hears you talk about it may think, yeah that’s a great idea, but do they have what it takes to endure what is typically required to start a run a business successfully. Most people don’t. Many people have their own lives, interests and aspirations and rarely have time to put them on hold to fulfill someone else’s dream.So then, should you go around and scream your idea from the rooftops? No, but you should seek out feedback. What you think is a great idea, might only be just an OK idea. The only way to find out is to solicit feedback.It is important to be able to share your ideas with others in order to “stress test” them. Sometimes you are so close to your idea that you cannot see what could turn out to be devastating problems that could result in a failed business. Those whom you choose to discuss your plans with can offer you a dose of reality by asking the hard questions that need to be asked.All ideas should be researched before being implemented. One of the easiest forms of research is surveying the public. In almost every business you have a provider (you) and an end user (customer). It is best business practice to ask your end user for their opinion on whether or not they want what it is you are selling.In some cases the answer is no, and if so that can save you money and heartache from trying to sell something no one wants. But on the occasion, your customer tells you yes they want what you are selling.Not only that, but they can also tell you why they want it, how much they would be willing to pay for it and where they would like it delivered. All of this feedback can help you to decide whether or not to proceed with your idea or at the very least help you to tweak it so that you have the best chance to succeed.Seeking feedback does not necessarily mean posting your idea up on Survey Monkey and seeking comments from random people. There should still be some prudence in the way you solicit opinions. It is rare that someone will steal your idea, but it does happen on occasion. How then do you get the feedback that you need without your idea being pilfered? Try the following suggestions:Start with friends and family: Test the waters with people you know trust and respect. Starting here can give you the time you may need to put some other protections in place, like registering the company name or domain name.NDA’s: A Non Disclosure Agreement as defined by Investopedia.com is “a legal contract between two or more parties that signifies a confidential relationship exists between the parties involved. The confidential relationship often will refer to information that is to be shared between the parties but should not be made available to the general public.” This is a tool that can be used when pitching your idea to investors, potential clients, advisers, potential business partners.Visit BEDC: A confidentiality clause is built into the BEDC Act. Speaking with one of our Business Development Officers can be a great way to get feedback for your idea.Everything in moderation: No need to share your entire plan to everyone. In most cases you can divulge enough information to get the feedback you need without giving away all of your intellectual secrets for making the idea work. The information an investor needs may be different from what a supplier would want to know. Be selective about what you share.A business idea is just a thought, conception or notion but is nothing without the action needed to implement it. If you have a great idea and have not moved to implement for fear of it being stolen, think about how you would feel when you see that someone else has started your business months, or even years down the road. Where would we be if one of the two Steve’s had decided it was too risky to share his idea with the other? I shudder at the thought and stroke my iPad for comfort.Business Buzz is a monthly column presented by the Bermuda Economic Development Corporation. Every month, read about entrepreneurship, obtain business management tips, and find out what’s going on in the small business sector.Jamillah Lodge is a business development officer for Bermuda Economic Development Corporation. She specialises in providing aspiring and existing entrepreneurs with business development advice and loan guarantee assistance. In addition, she manages the marketing and communications plan for the Corporation and oversees the development of a mentorship and youth entrepreneurship programme. She has a degree in Business Administration with a concentration in Marketing. The opinions expressed in this article are those of the writer and should serve a general guide and should not be considered as replacement advice from a lawyer, accountant or other professional service provider. Readers should consult with the appropriate professionals as necessary.If you have questions about starting a business in Bermuda, just ask BEDC: Email us at info@bsbdc.bm or call 292-5570.