"I've got an idea that can make a million dollars, Joel!"
If I had a dollar for every time I heard this from someone, I'd be well on my way to having a million dollars.
Here's the thing about ideas. They are worthless. Worthless, that is, until they become a reality and are properly executed.
So what's the big idea about ideas?
I love ideas! All of my successes originated with ideas. Let's face it. There is nothing like the "a-ha!" moment when your mind erupts into a volcano of imagination and possibility.
I'm such a believer in ideas that I once had a Vice President of Ideas on staff! Dan Nickerson came up with ideas so often that I had to tell him to slow down. We only developed a handful of Dan's ideas, but a couple of those ideas were brilliantly executed and very successful. (Ever heard of Socrates Theme?)
How should you look at your ideas? Unless you can get on Shark Tank and have Kevin O' Leary make you cry like a little girl, you need to be aware of a few things.
1) Just because you have an idea doesn't mean it's a good idea. What sounds like genius at the moment could actually be insane. And not in a good way.
When people come to me with an idea, I tell them to expect complete honesty from me. That means if I hate it, I am going to tell them. With those expectations put in place, they usually agree to share their idea.
Of course, I don't know everything. In fact, I know very little. But if you ask my opinion you are going to get my opinion. (I can't give you anything other than that.) And I've had to tell quite a few people that their idea was a bad idea.
2) Just because you have an idea doesn't mean it hasn't been done.
More often than not, when I ask the ideator if they have researched their idea to see if someone else is doing it, they tell me they have not. In the majority of cases, a simple Google search reveals that someone else has "stolen" their idea. Amazingly, they stole it before the person I'm talking to ever thought it up! How DOES that happen? A glitch in the matrix, I suppose.
3) Just because you have an idea doesn't mean you should be the one to do it, or that anyone should attempt it.
I've got lists of products and services I have dreamed up. Some of them I have brought to fruition, but the majority are nothing more than ideas. Some are good ideas, but they have seen as much life as they will ever see.
Why? Because I can't do everything. And I definitely can't do everything well.
I have to choose carefully which ideas I wish to turn into products or services. I've learned from experience (re: the hard way), that it is way to too easy to get spread too thin. When I lose focus on excelling in one arena, I'm likely to be mediocre in all my efforts. Perhaps your idea would take off were it in someone else's hands. Just a thought.
Don't stop coming up with ideas. But realize that an idea in itself is not the answer. As with everything worth accomplishing in life, it's all about the execution.
I won't stop coming up with ideas. I will write them down, explore them with potential partners, and perhaps select one for development.
Or maybe I should just charge people $1 to share their idea with me. Now that's a great idea!
What are your thoughts? I welcome your comments, questions and ideas below!
Another great article though this one sounds bit casual but still informative. If you have ideas then it means that you can become an entrepreneur like Joel ;)... Basically ideas lead you to the success as when you share your ideas with people they criticize it, this is a motivational criticism, as you start to work hard to prove that your idea was awesome. SO always go for the idea that has been criticized more by people.
Hi Joel,
I've been having ideas since I was a kid, but the best ideas came to me while researching for something totally different. And while some ideas were original, I didn't manage to put them into practice, while others, less original, have seen daylight and had a lot of success, despite their non-originality (that I found out AFTER they hit me).
If there was a way to sell your really original ideas and not have them stolen, now that would be something.
Any ideas?
Ovidiu.
Hi Joel,
This post was both interesting and thought provoking. It resonated very strongly with my "big ideas" mind. This is also the first post I ever tweeted (retweeted??). Anyway, I promise I will read all of your posts from now on and expect to be suitably entertained/enlightened. I will even read your old posts. Aren't I wonderful/loyal/misguided/sycophantic/nice?
All the best,
Scott
Great vision Joel and thanks to Dan for explaining in the previous post the price's on designing and publishing a WP plug-in. I appreciate the honesty.
I'm pretty sure we all have many, many stellar ideas, but at the end of day it all comes to down to executing your ideas to see how they actually perform.
Hey Joel, an insightful post for sure; especially the part about just because you have an idea doesn't mean you should be the one to attempt it.
Your comment about keeping a sharp focus is a great idea!
Enjoyed reading your post Joel. I am constantly thinking of ideas, however after taking the time to analyze them past the emotional level, most of them were just plain silly. Thankfully, now I don't allow myself to get distracted trying to make all my ideas work. Like you, I love ideas, but they can become a hindrance if not properly filtered.
"an idea in itself is not the answer. As with everything worth accomplishing in life, it's all about the execution."
How true...and yet the "enlightment" following a killer idea has so much power to change one's life and attitude towards life's issues.
I've come up with a couple of great ideas that changed my life for the better, so now at a relatively young age I am able to lead the life I wanted and give my wife and daughter a reasonably safe future.
In "Ka Ching" I remember reading that "for some strange reason, some people have great ideas and yet, they get lost along the way and never accomplish anything. Well, it is something I fear too, especially with my latest two projects, but then again as you say, it's all about execution. If you stick to it and don't get lost, stay focused and don't waste too much time, sooner or later you'll see results. Thanks for reminding me!
Loved it!
And if you're actually serious about reviewing ideas I'm sure I (and others) would love to pay you for that! Friends and family are always too darn nice about it when I get a new sucky idea. ;-)
Being an inventor and innovator I know you need to come up with as many ideas as possible to get a really good one. It's like panning for idea gold. Just keep at it and you will eventually find a nugget.
This is an extremely important subject, Joel.
Jack Canfield called me the "Doctor Of Rejection," because of my book, How To Take NO For An Answer And Still Succeed. I did seminars on the topic for years before I wrote the book.
One of the reasons people don't activate their ideas is they are afraid of rejection, failure, or ridicule. These non activation idea makers often languish in their fear surrounded by ideas.
Then, when someone says that it's not a good idea or can't be done, most shut it down right there.
The worlds greatest "experts" called the Wright Brothers nuts for thinking they could invent a flying machine.
The shortest route to success is failure. Failure can't be achieved without activation.
So, failure isn't the problem, quitting is. The tricky part is what to commit to. Once committed only massive and unrelenting action will do!
Well, that's my humble opinion anyway...
Isaac Asimov wrote over 500 books.
He was frequently approached by people who had a "great idea" for a book Asimov should write. Many of these folks offered to split the profits from the book Asimov wrote based on their idea.
His response was always the same - Asimov would offer to give them one of HIS ideas, THEY would write the book, and HE would take 50% of the profits.
A beautiful demonstration of where the value is.
Hi Joel,
Nice. We don't need new ideas to succeed.
What we do need to work on it implementing ideas and seeing them through.
Having ideas is exciting, working through ideas takes commitment.
Perhaps we can bank in the new ideas and work through current projects before we jump from one idea to the others?
Just my idea ...
Louisa Chan
Joel, great article and great idea to deal with big idea issue. I agree with you that great idea is a good stuff when it is being executed. Otherwise, it will always remain as an idea. However, we do need to choose which idea we are going to make it come true and worth to try to put it into reality. We don't have lots of time to do something which will ends up waste of our times. However, once we make the decision to do something, we then need to put all our efforts to make it come true or at least do our best to finish the job. God bless you.
Or a beautiful demonstration of where the real work lies. :)
I'll give you that $1 to share my idea with you. But would you advise me with your idea of how to make my idea work?
Ahh the age old question of how much is an idea worth :)
I completely agree with you though. An idea has to have some substance behind it before it can have any value. I have loads of ideas that have the potential to be worth a lot of money but until I have at least got a plan on how to move them forward they are worth zip!
Once the plan is in place then you can start to see the real value but even then you still need more for others to see the value in it. I think that once you have the first stages of development completed then you may be able to put a value on your idea but until then, like you said ideas are worthless!
Thanks for the great post
Simon
I find that the best way to develop and grow ideas is in a group of people who aren't afraid to think outside the box. Brainstorming groups are not only good for coming up with ideas, but they provide a community of people who can work together to see things through. Very rare is it that someone comes up with something on his or her own. Things are almost always done with a group of people.
Thanks so much for this useful post Joel, totally agree with your thoughts about Ideas.
Personally I think most of things in our life always need the commitment.
Hey Joe,been a long time since I read your stuff. I keep forgetting how inspiring it is. Okay, here's the way I see it. Most of us still work regular jobs and maybe, that's maybe have a small side biz.
We should focus on those two things at most and any other ideas for business that are actually doable,we should make sure our first business is actually making money before we decide to start another.
I work a regular job and have a small side biz in music. It makes no money yet. Just being honest.
I'll keep reading your stuff Joe. Thanks
Mark in Canada
I agree that spreading yourself too thin is easy to do and is an absolute killer in terms of moving forward. Nothing worse than great ideas that don't get realised but the only way to do this is on a project by project basis so the focus remains sharp and consistent.
Focus is the key and of course action!
I always believe in ideas,too.Good ideas have changed the world and human's life style in many aspects!
Great post Joel ! Thank you ... I love great ideas too, especially ethical ideas, it is my passion ! Every time I have one, I write it quick !
Joel, i give you a two thumbs up for sharing your ideas and another two thumbs up for a job well done.
Hi Joel,I'm learning a lot from your post.Thanks you fro sharing your ideas.