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Newsletter: The True Value of Your Idea; Less Than Zero.

Published about 2 years ago • 4 min read

Hello friends with big ideas who are worried about being copied so you move in silence, build alone, and keep your ideas close to your chest. This one’s for you. In fact, I used to be you, so I understand, but honestly, it's doing you more harm than good.

I found this great read on the value of ideas and why without the necessary work an idea is worthless.

Here's an excerpt (I've linked the full post at the end of this write-up):

“I’m sharing this because every month I take the time to hear 3-5 “big ideas” from people who think that if I hear about their magical “precious” I will be astonished and be dying to help them build it and get rich.
“If you want to help me with this I’ll cut you in on it” they say.
Get the fuck outta here! You think I don’t have 10 precious ideas of my own that I lack the conviction or time to execute - but at least have done the nominal vetting to have a belief in? Come on man!
In most cases the “inventor” ends up disappointed with my feedback, and while I realize I could be better at how I give it, there are some consistent themes that reflect a broad misunderstanding of how ideas translate into generational wealth.
I hope this is helpful and please do not take it personally.”

Ideas aren’t NFT’s, they don’t pay bills

You have a big idea - it may even change your life, but the honest truth is (and I know you're probably tired of hearing me say this - but) ideas (*alone) can't pay the bills. To my knowledge, NFTs are the only intangible objects that pay bills.

This is also why I've abandoned the build-in-silence approach to growing my business in recent years. Great ideas require action. They must be loud, tangible, and magnetic. You need to build traction, attract attention, be memorable and make an impact.

Moreover, it is not possible to demonstrate this with words alone. Therefore, what is infinitely more valuable than your idea? Your work, your research, your plan, and your expertise.

Start with an MVP

Trying to figure out where to start? Here's my advice. Set aside your ultimate goal for a moment and start with something that requires the least amount of effort, your Minimum Viable Product (MVP).

“Ideas are a pretext to start executing and eventually stumbling upon something of value”

It's likely that you'll gain valuable insights and learn a lot more than you imagine as you develop your MVP, and you may even build something even more valuable than your original idea.

Ideas are in fact a debt

* stretches fingers in preparation for what will be a very honest moment*

As I read through the post, nothing struck me as much as the following line: "I know how monetarily, mentally, and physically taxing it is to see an idea through." Anyone attempting to build a successful business knows that there is a tremendous amount of sweat, blood and tears involved.

I have never once finished a client session and thought, "wow, what an awesome idea, I'm stealing it" - because, no offence, I truly do not want your ideas. The effort required to make it successful is not something I'm willing to put forth for an idea that isn't my passion (if it were, I would have likely come up with a solution myself, at which point I would have been your competitor and not in this line of work).

Furthermore, there are no get-rich-quick ideas (that aren't, in my opinion, fraudulent). There are costs associated with every idea and those that succeed aren't necessarily the best ideas, but the ones with the best preparation.

So shout it out, build out loud, tell everyone, gather as much support as you can. You'll likely produce a superior final product than a grab-and-go imitation from a copycat without your vision.

I’m a year into building an HR SaaS company, and I can’t stress how much this post hits home. We have founder/market fit, we have a great idea, we have an amazing team, we have been part of successful exits. We could build the best product of all time, and never see a dollar. The amount of effort and time it takes to find potential leads, get on their calendars, go through long sales cycles, get buy in, go through security reviews, go through contract reviews, implement the software, iterate on feedback, be always on for customers, etc... is all consuming - and something most people with great ideas just won’t take the time or have the time to actually do. Not to mention it’s expensive to hire the right talent to get there. It took us close to a year of spending $10k/month, working 12-15 hours per day, to get to just $100k ARR.
All this is to say this post really hit home for me. I provide product and design strategy advice for a handful of startups, and I go off on this exact “rant”, whenever I’m asked to sign an NDA by someone who wants to run their idea by me. I know how monetarily, mentally, and physically taxing it is to see an idea through. I won’t take it and run.
Disclaimer: with all that said, don’t go telling your ideas to direct competitors with the resources to build it.

I really appreciated this comment, since it highlights why I qualify potential clients and only work with people who are willing to put in the effort. In reality, things are not as pretty as they appear on Instagram or TikTok. Whenever you buy into any idea, product or service, you’re buying into intention, determination and a resolve that’s weathered unimaginable storms.

So, what is the value of an idea you have yet to act on? Less than zero. You’re not even at the starting line darling. Even so, all is not lost, it might be hard, but it's not impossible, and you don't have to go it alone - I'm here for you.

To those of us building, posting, planning and showing up, well done us! It's not easy, but we outchea 👏👏

Until next time my big dreamers, let’s keep smashing it 🚀

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