I woke up this morning with a great idea!
Wow, I think this is the “ONE”!
Not only will this change my business, my life and my family – but it can literally change the world. No, wait – I can change history with this! Human mankind will never be the same!
But wait! There’s more. Even though I’ve had many ideas before, I know that I’ll be excited about it tomorrow too. And, the next day and next week, it’s that profound. I need to call my lawyer, and make sure I get the NDA’s lined up, ’cause this is SO UNIQUE.
Question: How did you go about quantifying the ultimate outcome of your new idea – and everything in-between?
While being excited, inspired and fired up is admirable, there is just this ONE LITTLE THING called…
…EXECUTION (and, I add to this:’ results’)…
A successful friend in the online business once said: “all we need around here is another great idea” (cynical tone). He literally could not handle it. He knew that it would just become more noise in his already established world. He knew that it would take much more than a great idea.
Derek Sivers of CDBaby said it best:
“To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.”
Ideas are really worth nothing without execution. How many ideas do think Bill Gross and his Idealab had before coming up with Goto.com (which become Overture.com and then Yahoo search marketing)? Actually, it was almost just by ‘luck’. However, the commitment to (flawless?) execution and dedication to goals to get that idea (paid advertising in search) to market, made the owners very wealthy. They focused on THE ONE, and did everything in their power to make it happen. (I worked at Overture, and then Yahoo, pretty amazing at the time, by the way)…
Derek breaks this down further by stating the following:
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.
What “average” idea can you take to the market with brilliant execution?