Mikel Berger

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April 25, 2004

Ideas are worthless

Eric Sink:

Blatant tangent: Ideas are worthless

Although you may not believe it right now, ideas are essentially worthless. You are emotionally invested in your idea. You've spent lots of time convincing yourself and others that the business will work. You are devoted to your idea and you do not want to give it up.

But like it or not, your idea alone is not valuable. In the business world, ideas are worthless. Real value comes from good execution.

The reason is that value is generated only in the presence of a risk/reward ratio. An idea by itself involves no risk, so it will lead to no reward. In contrast, execution involves risk, which is why it leads to reward.

http://msdn.microsoft.com/library/default.asp?url=/library/en-us/dnsoftware/html/software01262004.asp

Mark Cuban:

YM: What is the key to recognizing a profitable business opportunity?

CUBAN: Knowing the industry very well. Most people think it’s all about the idea. It’s not. EVERYONE has ideas.
The hard part is doing the homework to know if the idea could work in an industry, then doing the preparation to be
able to execute on the idea.

[Blog Maverick]

Posted by mikel at April 25, 2004 04:08 PM

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