This question haunts wanna-be entrepreneurs from the very beginning. I hear ideas from healthcare entrepreneurs very often, and at some point in our first meeting, the entrepreneur asks the question. It is a nonsense question, though.
The short answer is: an idea is worth nothing. Nada, rien, zero. If you execute it, then it may be worth a lot, but the value comes from its execution. The truth is for every great idea you've had, chances are there are probably a lot of people who have had the same or a similar idea at about the same time. An idea is just the start. It is easy to have the idea, but it is very hard to have the ability to bring it to the market. You need to prove to yourself the idea is not just a good idea but an opportunity, you have to think how are you going to execute it (write a business plan), find the team, raise the money, and make it happen.
Many people don't understand this because they don't understand how value is added to a company. Investors do not invest in ideas, but in the execution of ideas. Therefore, the team executing the idea is essential. A great idea with a poor team is usually a failure, whereas a “normal” idea with a “state of the art” team usually ends in success.
Related to this first question is the question of how worried you should be about someone stealing your idea. Again, the answer is not very much. I guess it does happen now and then, but I’ve never seen it first hand. Anyone who would be capable of doing (not just thinking, but doing) something with your idea will be probably too busy with his own projects to steal yours.
Besides that, if your idea can be easily copied and executed by others just by knowing it, you are in real trouble. This means you don’t really add much to the idea, and the barriers of entry are so low that even if you succeed in keeping the idea in secret, it will be easily copied once you launch it to the market.
So, doing and not just thinking is the key. To all of you reading, do something about your ideas.
2 comments:
I agree with Lluis post. And I'll add: nobody will invest in your idea if you don't believe it yourself, so, leave your current job!!!! NOW
Believe in yourself does not mean to leave your current work.
The question here is: why am I spending time in my current job?...
If the answer is "to keep a salary" then probably you dont believe in yourself.
But sometimes the answer is "because I will learn a lot of things here!" or "because I love to do it!"... those goals have nothing to do with lack of self confidence.
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