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The Value of An Idea

What is the value of an idea?As we have traveled around, and as I have built businesses in the last 10 years, I have realized that most people are full of good ideas.

(Ask Carrie. I come up with at least 3 good ideas every day.)

At the same time, most people believe (or at least say), “If I could just come up with a good idea, I could be rich.”

Having a good idea from the beginning is important.

Example: “I’ve just come up with a GREAT idea for a breakfast cereal.”  The world doesn’t need another sugary breakfast cereal, and even if yours is better than every other one out there, you probably won’t become rich with a new breakfast cereal.

Having a good idea is important.

But Action/Execution of your idea is the most important thing.

Next to that also is having the right Timing.

If you introduced a revolutionary breakfast cereal in 1975, you might really have had a shot at being wealthy by 1985.

But in 2011, the timing for introducing sugary breakfast cereal (in America anyway) is gone. People already have their favorites.

I think it’s probably something like this:

  • Ideas are worth 1/5 the value of timing.
  • Ideas are worth 1/10 the value of Action/Execution.
  • This makes timing worth 1/2 the value of Action/Execution. Acting on something is 2x more important than being in the right place at the right time.

Idea * (Action/Execution * 10) * (Market Timing * 5).

Ideas are great, but they are multiplied by what you’re willing to do to put them into the world.

2 thoughts on “The Value of An Idea

    1. strive4impact Post author

      That’s exactly the point. The value isn’t in the idea at all, but most people are spending their lives looking to have that one “Aha” moment.

      The moment is good to have, and necessary, but once you get beyond that moment and start realizing all the work there is to be done to bring your good idea into the world, it becomes much more about whether or not you’re up to the challenge.

      So it’s not about the idea… it’s about the implementation of the ideas.

      And the implementation of the idea is all about the person who is implementing it, and the reasons/philosophies/connections/education and in particular the motivation behind why and how that person is working to bring the idea into reality.

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