A day doesn’t go by where I do not hear from someone who claims to have the next Google of an idea and just wants to pick my brain about how to start a new business.
This is the equivalent of fool’s gold. Ideas are a dime a dozen. Everyone has an idea, and those that don’t can buy or rip one off. Ideas are as meaningless as they are plentiful.
If there is one thing I have learned as an entrepreneur is that the hardest aspect of starting a business is implementation and execution.
Let me give you an extreme example. There are thousands of people who are incredible writers. They have the ability to construct fascinating stories and entertain the mainstream population. Why don’t they just take their stories and turn them into movies? Because a movie is so much more than just an idea. You need a script, a budget, cameras, sets, producer, director, actors, distribution…and probably a few thousand other things.
It is absolutely no different with a business. Yes, you need an idea to start a business, but there is so much more to it. Just having an idea or a goal means nothing.
Mark Cuban and others think they are doing the world a favor by giving away business ideas, but seriously, those are a dime a dozen. If they really wanted to help out they would give advice, strategies, and lessons learned. Then they might actually be doing someone a favor.
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August 25th, 2006 at 9:27 am
amen.
Nothing much to add here.
The originality of the idea is a good thing, as a thought. But the way from thoughts to deeds seems to be to hard for many.
October 3rd, 2006 at 3:59 pm
Yep, also remember that an idea is merely a tool in the hand of the Entrepreneur. Investors will look at the opportunity and the need in the market first of all. Secondly they will look at the practicality and ease of execution.
March 27th, 2007 at 2:02 pm
[…] or two companies, even if they are the “next big thing” is crazy. Every single day incredible ideas are born and die and professional investors mitigate the heavy risk inherent in the game by diversifying […]