You’ve Got an Idea? So What?

Product Management

You’ve Got an Idea? So What?

[Article submitted by Amit Aggarwal of Mneomonicdictionary]

Do you have a great innovative idea and think that you have taken the biggest step of starting a startup? If yes, than you need to read this post and linked posts carefully…

Finalizing an Idea is just an initial small step of starting a startup. You’ve got the other thousand miles of the journey still ahead of you. You need to put that idea into action. It’s like someone bought a new car but need to learn driving (execution) and should have enough petrol in your car(resources) so that it can take you to your destination place.

Derek Sivers best summed it up …

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

Business = Idea * Execution

– Derek Sivers

Also, many of us fear to discuss our ideas with others (even with close friends) as we fear that it might be copied or stolen. In my opinion, If you are really planning to execute your idea, you need to discuss it a lot with others before starting the execution part. By saying this, I don’t mean to share it openly with anyone but with people you can trust (your close friends, family members etc.).

Just identify who all among them (your trusted network) are going to be potential users of your product or service. It sometimes help to frame an alternative model of your idea which you can openly discuss with anyone to get their views and suggestions.

In short, Ideas are worthless unless discussed with others and acted upon properly in planned way.

What do you think?

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