You’ve Got an Idea? So What?
[Article submitted by Amit Aggarwal of Mneomonicdictionary]
Do you have a great innovative idea and think that you have taken the biggest step of starting a startup? If yes, than you need to read this post and linked posts carefully…
Finalizing an Idea is just an initial small step of starting a startup. You’ve got the other thousand miles of the journey still ahead of you. You need to put that idea into action. It’s like someone bought a new car but need to learn driving (execution) and should have enough petrol in your car(resources) so that it can take you to your destination place.
Derek Sivers best summed it up …
To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.
Awful idea = -1
Weak idea = 1
So-so idea = 5
Good idea = 10
Great idea = 15
Brilliant idea = 20No execution = $1
Weak execution = $1000
So-so execution = $10,000
Good execution = $100,000
Great Execution = $1,000,000
Brilliant execution = $10,000,000Business = Idea * Execution
- Derek Sivers
Also, many of us fear to discuss our ideas with others (even with close friends) as we fear that it might be copied or stolen. In my opinion, If you are really planning to execute your idea, you need to discuss it a lot with others before starting the execution part. By saying this, I don’t mean to share it openly with anyone but with people you can trust (your close friends, family members etc.).
Just identify who all among them (your trusted network) are going to be potential users of your product or service. It sometimes help to frame an alternative model of your idea which you can openly discuss with anyone to get their views and suggestions.
In short, Ideas are worthless unless discussed with others and acted upon properly in planned way.
What do you think?
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I remember reading this in sukshma sometime back.Thanks ‘you’ for the repost.
Hi Ashish
Nice post in my case
Daily i got 1-2 new ideas (either Good or bad) from internet or newspaper or any media but after 9-10 hours of office work + home works …most of the ideas lost..
Sometimes i am very excited with new ideas but as time passes i am not able to work on it.. not enough self motivation and no encouragement from friends and family
Do u have any suggestion ?
few tips :
Create a google doc for your idea as you can access it a anytime-anywhere..share with few of ur friends for their input and see if anyone among them are interested…
While commuting between office and home (for me it was 2-3 hrs per day) think over ur idea and write down thoughts in ur mind in small notepad.
Above 2 points can help you atleast in ur planning part.
I read somewhere that a good idea for a business is as important as locating your shoes before a marathon.
I think that is about right.
I agree that execution is most important. But anybody who says “You have got an idea?So What” or “Ideas are dime a dozen” doesn’t know what he is talking about. Bad ideas are dime a dozen, but truly innovative ideas are not. Starting up on your own is never easy. It’s only the idea and the vision of future that no one else can see that motivates an entrepreneur.
Niraj: When you truly come across a great idea, you will also find enough motivation to work on it, even if no one encourages you. The ideas that loose their charm after a few weeks or months were probably never good enough in the first place.
And why the hell everyone says “Starting a startup”. Shouldn’t it be “Starting up” or “Starting a business”?
Its not that if you have a great idea you are going to be successful. A great and innovative idea motivates you, but if you lack a mission you are not going to be successful.idea alone in business doesn’t matter, what matters is a strong mission. if you look at the great business-how they are built-they always have the strong mission, great leadership, a competent team, excellent cash flow and financing, clear and effective sales and marketing communications, an efficient system and off course a great idea in the form of product..so you can realize that idea is the last. so unless you do not know which way you need to travel, you cant complete the journey by simply having a great idea. Mission is the most important part of business and it is the spirit of the business. it is the heart of business, without spirit and heart no one will be able to make it because the road ahead is a hard one. so if you don’t have a mission but only idea and do not know how to execute it though you may have enough enthusiasm for your idea it is waste. it is always the execution thats matters, as how business are executed which is nothing but a well designed system in which the business are carried out.
@rohit
what is a great idea? a great idea is common sense put together with uncommon thinking. but how will you know whether it is great idea? only when you think about it expensively, discuss with others ,will try to execute it whether it is possible ? what may happen? will it work….and all these requires a great effort in the matter of time and money or anything in that case. so an idea alone will not get you what you want..it is thinking, strategy, planning and how you carry out everything?thats is execution….will take you to your goal..
@Preeti:
I never said an idea alone will get you what you want. In fact my first line was “I agree execution is most important”.
I do have a google doc and its full of ideas !!!!!!!
I wish I could implement atleast 1% of it.
idea
it is 0 if not implemented and is in (-) if wrongly implemented
idea to those who work & are always tired
i will speak to those who will pay me
i can share my idea to working class of people if they will pay me i:e money ….
i can adive them if they pay me else no
you can just advice people online as how to do work if you cannot do the same. and get paid for your advise’s on line. only you have to answer their queries
if you can not implement it
salim, are you a consultant?
arun who are you and what you want to do in life???
tell me may be i guide you…….
i am a professor
commerce faculty
I really agree with the post..that you might have a great idea but finally you need to execute it to make it successful. Even I have been getting many ideas lately..but then I don’t have to time to execute it..as the job takes most of the time..:)