It doesn’t matter how “good” your idea is.

Once a week I get someone that comes to me and pitches me a brilliant idea. The problem is that it doesn’t matter. Before they start their pitch I know that their idea will not come to fruition. And it’s not because their idea isn’t brilliant. It’s because ANY idea is only one of 10 necessary elements that lead to success.  Here are some of the things that I think are necessary to take a good idea to market:

  • a network of talent for hire
  • a dependable team or partnership with diverse talent
  • personal experience in project management
  • relationships with people in the perspective field
  • experience with technology
  • the ability to sell your product to investors and consumers
  • the ability to get sh*t done
  • confidence to be able to overcome the dips
  • the ability to take a risk OR to not see it as one
  • the ability to have a healthy relationship with your spouse and children during your idea
  • and finally, the ability to try out another idea when you find out that the previous one was not in fact “good”
  • etc. (I didn’t even mention finances)
So, the point of this post is not to discourage people who have good ideas. But ideas do not make millions. Steve Jobs was not the first person who had an idea for an mp3 player. But he did have all of the above elements to harness the power of the idea when it did come.

Ideas come and go. Of all the things on the list they are the most random to attain. Everything else on the list you can work towards. Most of the entrepreneurs I know have 15+ failed projects in their wake. But in the failure of their ideas they built up the 10 other things that harnessed the power of their 16th idea.

So, the next time you have an idea, pull the trigger. Make some phone calls, put up a website or blog, and set your alarm to get up early. Because although the idea may not pay off adding the tools to your tool belt will. And someday you’ll have a good idea AND you’ll be able to see it to fruition. THAT’s something to get excited about.

Additional Resources:

(just read the title and description on amazon)

(Malcom Gladwell presents the correlation of 10,00 hours of experience results in success)

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6 thoughts

  1. Inspiring, in a slap-in-the-face kind of way. Oh… I and I think you mean ‘PROspective’, or perhaps friends within my range of vision? Thanks Ben!

  2. These are some great tips. I like the sense of balance achieved by looking at all of these different aspects.
    I have one question, though: how does “confidence” to ride out the dips interact with the “ability to try out another idea”? When does confidence become the *inability* to try out another idea, that is, when do the dips tell you the idea doesn’t “work”?

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