Ideas are not worth anything?

I've heard somewhere ideas are not worth much execution is everything. Is this always the case though?

 

 

I have come up with an ingenious idea of how to launch a rapper into superstardom, and more than that a key to controlling a certain demographic. It takes a lot of resources but the model had been done many times before so they know exactly how to do it.

 

 

 

 

 

Or, if you like to play,

 

 

what if I showed you a new way to fold a shirt in 1/3 of the time, how much would you pay for that skill? It might be worth a few bucks to make your life easier?

Tons of people have lots of ideas. Hell, I came up with rollerblades and other products before they were invented. Implementation has muliillionaires who made the same ideas work.

Maybe this goes along the same lines. I often have ideas that I think are revolutionary, or more specifically a product logo and name that I think would be killer but am afraid of someone else stealing.

 

My problem is that I am so afraid of someone stealing my idea or me not doing it correctly that I end up just sitting in neutral and revving my engine - accomplishing nothing but spending energy.

 

One of my favorites.

 

It's so funny when I hear people being so protective of ideas. (People who want me to sign an nda to tell me the simplest idea.)

 

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 = 20

 

No execution = $1

Weak execution = $1000

So-so execution = $10,000

Good execution = $100,000

Great execution = $1,000,000

Brilliant execution = $10,000,000

To make a business, you need to multiply the two.

 

The most brilliant idea, with no execution, is worth $20. The most brilliant idea takes great execution to be worth $20,000,000.

 

That's why I don't want to hear people's ideas. I'm not interested until I see their execution.

Execution is why Rob is going to be stinking rich and we can go to his private island on his twin turbo learjet in the future.

Execution is why Rob is going to be stinking rich and we can go to his private island on his twin turbo learjet in the future.

 

I'll provide the peanuts!

 

 

 

OK come on we can say it's worth $20...

 

but think about all the exec's who are sitting around thinking of ----- IDEAS... then they go to engeneers for execution... so who gets paid a cut from the project...and not a small cut mind you - the creative execs! I mean yeah they have to run through the thing execution wise but parts they don't understand (probably most important ones then) are left to the engeneers

 

 

Execution is why Rob is going to be stinking rich and we can go to his private island on his twin turbo learjet in the future.

 

 

Straight from the Millionaire Fastlane, but we get the point. GBGallardo is well on his way to billions at the rate he's going at...Underground Racing space shuttle by the time he hits full stride.

The idea is everything, what you would you execute if you have no idea?

 

GBGallardo I am assuming you are mainly referring to the internet business where it is relatively inexpensive to execute your ideas especially if you are able to do the work yourself, generally to put in practice and execute ideas it's extremely costly most inventors are broke.

 

Just because someone is in no position to show you the execution that does not mean the idea is worthless, not to me anyway. If you can make the idea work and you have the finances to back yourself up you take it on board than you negotiate a cut for the idea man, that's when the business man kicks in and a value gets assigned to the idea

 

Yesterday I had a meeting with a potential client, if the company is relatively new I usually have them present some figures to me about their business in order to make an assessment if their position is strong enough, when I looked at his business I realized what a brilliant idea it was and how much room for growth there is.

I asked for permission to talk about that and he agreed, I questioned him why he was not taking this to the next level, he's answer was the one I expected, restricted by their investment capabilities, they would need an extra $6mil to get to an annual turnover of $50 mil plus, lots of profit because they are only providing a service, no logistics, no manufacturing, distribution involved etc. they are established already (very strong figures) but they are only stepping up to 20% capacity at the moment hoping to build up to full scale in 3 to 5 years.

 

Before they've stepped in my office there was no idea, no business, if they didn't come up with it I would have nothing to talk about right now, how much is their idea worth? That's left to be seen.

 

all I can tell you is that after the meeting was over I've been doing lots of this

 

The unfortunate thing for the greater majority of idea people out there, they generally have no money to execute it, that's where money people come in and steal their thunder

 

I know it sounds harsh but that's generally the case.

 

 

but think about all the exec's who are sitting around thinking of ----- IDEAS... then they go to engineers for execution... so who gets paid a cut from the project...and not a small cut mind you - the creative execs! I mean yeah they have to run through the thing execution wise but parts they don't understand (probably most important ones then) are left to the engineers

 

 

Some will say marketing is the most important (money making) aspect of a business, and in many ways that is correct.

 

But if you cannot design/build/program/etc the damn thing, you have NOTHING.

 

I believe this comparison is different than the original intent of the thread......implementation in the entrepreneurial sense, not so much in the corporate sense, but it is an excellent point you bring up Rawr.

 

/soapbox on

 

An example:

 

You can have the most brilliant marketing and finance in the world, but the most important part of a 100 story high rise building is the lead Structural Engineer and his team designing it. No S.E., no skyscraper.

 

This guy might make $150-200k/year, a peanut salary so someone else can enjoy an 8 or 9 figure return on it.

 

 

/soapbox off

The idea is everything, what you would you execute if you have no idea?

 

I could give you a bunch of examples.

 

Unfortunately for all the idea people out there, they generally have no money to execute it, that's where money people come in and steal their thunder

 

I know it sounds harsh but that's generally the case but as I always say to people a bird in hand it's worth 1000 on the fence.

 

 

The world is very harsh indeed, but that can be a good thing.

I am looking right now at a pizza chain website, while ordering a pizza.. I have an idea for them to make website better -it si right here, its obvious and would take 2 hours for some IT guy...

 

 

 

The problem is the next step - now what? How do I get to the guy that pays me to tell him this?

"Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan 'Press On' has solved and always will solve the problems of the human race."

Calvin Coolidge

I am looking right now at a pizza chain website, while ordering a pizza.. I have an idea for them to make website better -it si right here, its obvious and would take 2 hours for some IT guy...

 

 

 

The problem is the next step - now what? How do I get to the guy that pays me to tell him this?

 

send him an email

send him an email

 

 

Thanks, since you are good I'll ask - how do you get him to tell you what a fair price is and not lowball it? I don't really know if there is a database of what a "fix up" that betters the customers experience is really worth

"Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan 'Press On' has solved and always will solve the problems of the human race."

Calvin Coolidge

 

Great quote BTW!

Great quote BTW!

 

 

It is a great quote but imo it doesn't apply here. To me it says "keep trying, that's the only way to actually succeed"

 

to that I can say that coming up with ideas is such an event

 

if I am sitting around TRYING to come up with an idea, and it's not working, i shall apply the quote and sit and think some more..

 

 

Does that make sense?

It's all about execution. Make a set goals/make a plan and then stick to it. Ideas alone are worthless.

Thanks, since you are good I'll ask - how do you get him to tell you what a fair price is and not lowball it? I don't really know if there is a database of what a "fix up" that betters the customers experience is really worth

 

If the guy you are negotiating with has at least half a brain he will not tell you the price, I would never tell you what I would be prepared to pay before I see your hand, you might say something very stupid, you never know

 

You will have to price it but that's easier said than done specially if you do not have access to inside info., firstly you will have to figure out what you are bringing to the table and how valuable is "it" to them, show them the benefits, returns on their investment, payback period etc then you can price it accordingly.

 

The pizza thing might not work because the minute you open your mouth they can just implement it, you have to be very cunning in your packaging and delivery

 

This would be a very good example of what GBGallardo was talking about, you don't execute it you will not get paid, what I don't agree with is the fact that your idea would be worthless, if your idea has merits and will work in practice the idea is worthless to you because unless you invest the money to execute it you will not be able to capitalize on it, the other reason your idea is worthless to you is because without protection, registered patents etc the guys that hold the resources can simply steal it from you and there is nothing you can do about.

 

 

Good luck.

Ideas alone are worthless.

 

Hypothetically:

 

I am a genius inventor, I am broke, I have all the time in the world to sit at my desk surrounded by my 20 cats and come up with a device that stops people from stealing or taking away shopping trolleys from a shopping centre, if my design gets implemented it can potentially save millions.

I take a piece of A4 paper and design the thing in less than a week, sell few of my cats and use the money to patent my invention.

 

Yes you could say my shopping trolley anti-theft device idea is worthless because I haven't implemented it and possibly never have the means of doing so but you can see how you would be wrong, actually my idea is brilliant and could potentially save someone millions.

 

Good ideas are never worthless, their values get determined when implemented, you find the guy that can help you implement it you will share the benefits, how much of the benefit is determined by how good you are at negotiating but if you are the type of guy that surrounds himself with 20 cats it is very likely you will work out a pretty crappy deal for yourself

Straight from the Millionaire Fastlane, but we get the point. GBGallardo is well on his way to billions at the rate he's going at...Underground Racing space shuttle by the time he hits full stride.

Actually I think MJ stole it from Getting Real (this page), or they stole it from someone Maybe Webster can chime in?

 

 

GBGallardo I am assuming you are mainly referring to the internet business where it is relatively inexpensive to execute your ideas especially if you are able to do the work yourself, generally to put in practice and execute ideas it's extremely costly most inventors are broke.

You are exactly correct. I am referring to internet business and I do do my own work as well so I guess that doesn't apply in all cases or for everyone.

Ideas are worthless without execution? LOL, what? That is a ridiculous statement.

 

Yes, maybe a good idea is worthless if you let it rot away in your brain and never do anything with it, or if the idea is as broad as "let's cure cancer." Just because someone can't execute it yet, doesn't make it any less valuable. Some ideas cannot be executed with significant capital and resources. Those are the true investment opportunities. Ideas without the execution are often the most lucrative of them all.

 

Do you want to invest in $100K in Google now, or did you want to invest $100K into Google when it was just a shitty server in their garage? Why would anyone want to hear about ideas that are already well executed? Well executed ideas are not usually for sale unless you have huge money.

 

Let us not forget about the power of a simple patent either. Patents alone can be worth insane amounts of money, even if they were never used. IMO, the patent system is disgustingly flawed, but it is what it is.

 

At the end of the day, I want to hear brilliant ideas with no to poor execution. That's where money is made.

Ideas are worthless without execution? LOL, what? That is a ridiculous statement.

 

Yes, maybe a good idea is worthless if you let it rot away in your brain and never do anything with it

Well that's exactly what the average person does...they come up with "the next Facebook", but never actually take the steps to make it happen. You hear it all the time..."Oh I so thought of that! I could be a billionaire!"...Yes, you could have been, but you didn't execute anything.

 

It's like all of my friends that have all these ideas to bounce off of me. They all want NDA's signed (which I do just hear the idea for the hell of it) and they usually follow up with a Facebook message like this worried as sin after I care to respond because it's the dumbest idea in the world, lol.

 

 

 

At the end of the day, I want to hear brilliant ideas with no to poor execution. That's where money is made.

Kane, did you see this?! Brian talks sense! J/k

Yeah, but the difference between letting it rot away in your brain and not, is simply telling someone the idea. Just the action of telling someone can be good enough. If you can't execute the idea on your own, what are your options?

 

I have an advertising idea that I think would be really nice on Foursquare. That idea is worthless to me because I don't control Foursquare. However, I can pitch the idea to them and maybe go from there. It's still a smaller company, so maybe there is some opportunity there.

I have an idea that could possibly make me a potential billionaire, but as it stands it's impossible.

 

The idea is that there's a device in the gas tank that reproduces the gas as you're driving along. You would only have to fill it up once, and the car will last as long as the integrity of the parts.

 

Charge it at $1,000 each, and how many people do you think would buy that?

 

I just have no idea where one would start.

I have an idea that could possibly make me a potential billionaire, but as it stands it's impossible.

 

The idea is that there's a device in the gas tank that reproduces the gas as you're driving along. You would only have to fill it up once, and the car will last as long as the integrity of the parts.

 

Charge it at $1,000 each, and how many people do you think would buy that?

 

I just have no idea where one would start.

 

 

An endless energy source? That would be worth trillions