The Value of Ideas

#1

Post by alexandros » Fri, Jun 04, 2010, 2:03 PM UTC

The Value of Ideas
dilbert.com

Re: The Value of Ideas

#2

Post by [deleted] » Fri, Jun 04, 2010, 2:27 PM UTC

[deleted]

Re: The Value of Ideas

#3

Post by mixmax » Fri, Jun 04, 2010, 2:35 PM UTC

A lot of first-time entrepreneurs (me included) make the mistake of believing that the right idea is paramount for success. As Adams points out that's not true. It's getting old but it's still the truth: Ideas are worthless. Execution is everything

Re: The Value of Ideas

#4

Post by m0th87 » Fri, Jun 04, 2010, 2:48 PM UTC

Seems like an over-simplification to me. An idea without execution is worthless. But execution without an idea is pretty worthless too.

Even if I mastered execution, I couldn't sell a product that costs you $100 and punched you in the face every time you used it, because it's a shitty idea.

Re: The Value of Ideas

#5

Post by philk » Fri, Jun 04, 2010, 2:49 PM UTC

m0th87 wrote: post #4

Seems like an over-simplification to me. An idea without execution is worthless. But execution without an idea is pretty worthless too. Even if I mastered execution, I couldn't sell a product that costs you $100 and punched you in the face every time you used it, because it's a shitty idea.

Of course you could. The target market would be masochists and they spend money on those kind of products/services already.

Re: The Value of Ideas

#6

Post by philwelch » Fri, Jun 04, 2010, 2:54 PM UTC

m0th87 wrote: post #4

Seems like an over-simplification to me. An idea without execution is worthless. But execution without an idea is pretty worthless too. Even if I mastered execution, I couldn't sell a product that costs you $100 and punched you in the face every time you used it, because it's a shitty idea.

Gifts for people you don't like?

Re: The Value of Ideas

#7

Post by osipov » Fri, Jun 04, 2010, 2:56 PM UTC

m0th87 wrote: post #4

Seems like an over-simplification to me. An idea without execution is worthless. But execution without an idea is pretty worthless too. Even if I mastered execution, I couldn't sell a product that costs you $100 and punched you in the face every time you used it, because it's a shitty idea.

Agree. Different ideas have different execution and value potential: for example an idea to dig a cubic foot hole in the ground in the middle of nowhere has a different potential than an idea about how to solve the financial crisis.

Re: The Value of Ideas

#8

Post by philk » Fri, Jun 04, 2010, 2:58 PM UTC

This is a fantastic post by Scott.

I think the great idea fallacy continues because it appeals to people's fantasy of becoming successful without much work.

Anyone can imagine themselves having a great idea and then being successful. It's a lot harder (and less pleasant) to imagine taking an unremarkable idea and spending years of hard work to make it succeed.

Re: The Value of Ideas

#9

Post by Sukotto » Fri, Jun 04, 2010, 2:59 PM UTC

  You'd be hard pressed to come up with an idea so bad that
  it couldn't succeed with the right execution. And it would
  be even harder to imagine a great idea that couldn't fail
  if the execution were left to morons.
  
  Ideas are worthless. Execution is everything.

Words to live by. I often have to re-evaluate my own thinking because I tend to fall into the trap of waiting for a better idea.

Re: The Value of Ideas

#10

Post by CapitalistCartr » Fri, Jun 04, 2010, 3:00 PM UTC

An idea that's the right goal or vision for me probably wont be the right one for you. What makes an idea good for me is who I am. Pursuing a great idea for making a better stove is probably not the right goal for me. But it was for Fred Carl, who founded Viking Range.

Dreams, visions, goals are specific to the right people.