Ideas Are Cheap

in On Entrepreneurship

“Eliminate the time between the idea and the act and your dreams become your realities.”
- Dr. Edward Kramer

When I first heard Dan Kennedy use this quote, I furiously scribbled it into my notebook. I’ve kept it close ever since.

It’s a HUGE success secret.

One of the hardest lessons for entrepreneurs to learn is that no matter how great your idea is … there are probably dozens if not hundreds who have had it before you … and did nothing with it.

Ideas are GREAT, but they are cheap. If all you have are great ideas … or if you sit around endlessly refining your idea instead of acting on it (however imperfect at the time) … you’ll end up sucking wind and losing big to the guy or gal who gets it to market quicker.

You learn more with a week of real, live market feedback (note: NOT silly focus groups, but legit market feedback) than a year of “thinking it over really, really, really hard.”

Oh … I don’t want to go too fad-like on ya … but the previous sentence is a BIG, DRIVING LESSON you can and should take from “Web 2.0.”

P.S. Sorry for the slow posting lately. I’m neck deep in spec’ing and having a custom sales and CRM system built using Filemaker Pro. For years, my business has run on a hacked-to-death version of Goldmine. Now that I’m … for the most part … going to a Mac only shop, it’s given me the excuse reason I wanted needed to have a shiny new system built just for me. grin

{ 12 comments… read them below or add one }

1 Mdf Dtf July 2, 2010 at 5:57 am

Idea is like a vision, if it is not put into action, it becomes cheap, useless, worthless… you’ll just end up nowhere and you’ll end up with nothing. there should be passion in creating ideas into reality.

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2 ryan conlon March 25, 2009 at 1:52 pm

You need to believe in your ideas. Set Goals. AND actually work towards your goals – Daily.

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3 Anonymous August 16, 2008 at 9:17 pm

Hey Michael,

Glad to have found your blog. Couldn’t agree with you more.

I recently started blogging and just wrote a post this on techburner.com.

The more businesses I’m involved with and create the more I see how important execution is.

Reply

4 Anonymous August 17, 2008 at 2:17 am

Hey Michael,
Glad to have found your blog. Couldn’t agree with you more.
I recently started blogging and just wrote a post this on techburner.com.

The more businesses I’m involved with and create the more I see how important execution is.

Reply

5 Anonymous August 5, 2008 at 3:43 am

I couldn’t agree more. That’s just what I was thinking.

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6 Anonymous August 5, 2008 at 8:43 am

I couldn’t agree more. That’s just what I was thinking.

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7 Anonymous April 23, 2008 at 12:33 pm

Ideas are cheap? Give me a cheap idea, I dont have none!

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8 Anonymous April 23, 2008 at 5:33 pm

Ideas are cheap? Give me a cheap idea, I dont have none!

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9 Anonymous November 30, 2005 at 3:11 pm

Let’s go back to the most essential qualities for any idea to last:

1. It has to address a need, implicit or induced;

2. It needs to bring an added value, whatever that value may be;

3. It must mean something to other people than yourself only (concept of perenity).

…and the best way to nurture new ideas:

a) Master your field—become an expert at what you do;

b) Identify “problems” in your social, business and scientific “ecosystems”;

c) Dare to combine many existing ideas into a new one;

d) Apply an existing idea to an entirely new field;

e) Push the limits on what people view as the “state of the art”.

There you go, you’re all set to generate new ideas!
——-

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10 Anonymous November 30, 2005 at 8:11 pm

Let’s go back to the most essential qualities for any idea to last:
1. It has to address a need, implicit or induced;
2. It needs to bring an added value, whatever that value may be;
3. It must mean something to other people than yourself only (concept of perenity).
…and the best way to nurture new ideas:
a) Master your field—become an expert at what you do;
b) Identify “problems” in your social, business and scientific “ecosystems”;
c) Dare to combine many existing ideas into a new one;
d) Apply an existing idea to an entirely new field;
e) Push the limits on what people view as the “state of the art”.
There you go, you’re all set to generate new ideas!——-

Reply

11 Anonymous October 17, 2005 at 10:10 am

Mike,

Since this comes after my recent email to you, I’ll take this personally wink

I wholeheartedly agree with your quote and that is why we have been on a tear bringing our local internet marketing system to market.  This being my 4th company, I learned sometime back that it is much easier to garner support for something once it is deployed and a bit proven than it is when it is a figment of one’s imagination.

I am still interested in your time, once you have some free, if for nothing else but to evaluate our solution and system.

Thanks!

Darryl

Reply

12 Anonymous October 17, 2005 at 3:10 pm

Mike,
Since this comes after my recent email to you, I’ll take this personally
I wholeheartedly agree with your quote and that is why we have been on a tear bringing our local internet marketing system to market.  This being my 4th company, I learned sometime back that it is much easier to garner support for something once it is deployed and a bit proven than it is when it is a figment of one’s imagination.
I am still interested in your time, once you have some free, if for nothing else but to evaluate our solution and system.
Thanks!
Darryl

Reply

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