August 5th, 2016
Have you ever been so excited to tell someone about a great idea that you sit on the edge of the seat? You’re not alone! The front of the seats in my office is more worn than the backs. A large percentage of new inventors I’ve met are so excited they practically sit on the edge of their chair explaining their million dollar idea. As soon as they get these words out, I can almost guess the next point they’re thrilled to share with me. It always goes something like this, said breathlessly, with phrases strung together in a run-on sentence that would make your grammar teacher clench her teeth:
“Dennis, since my million dollar idea will change the world, how about you take this on, and when it’s done, you can have a percentage of my company when it becomes successful, which I know it will because there is nothing like it out there now, Dennis, we need to get going on this right away!”
I just grin and realize this wanna-be inventor will need some guidance to help them get their idea off the ground. And, predictably, when I gently inquire as to their research and the data backing up their claim that there’s market interest and nothing like their idea on the market, they sink back into the chair, giving the front padding a much needed rest.
Whether you’re an aspiring inventor or desire to become a successful entrepreneur by turning your big idea into a business, the direction in which you travel is always more important than the speed at which you move to get there.
To illustrate, here’s a question for you; a riddle of sorts:
em>Two race cars sit at the edge of a cliff, a blue one and a yellow one. They take off simultaneously, but the blue one hits 80 mph in 7 seconds and the yellow one hits 120 mph in 9 seconds.Which one won? Blue or yellow?
The answer is, of course, who knows? Yet I’m guessing the one that won chose to drive in reverse, backwards; the loser went over the cliff.
The point of the story is to say this: sometimes, we have to move backwards to do the things that help catapult us to eventually evolve forward; sometimes we have to turn left first to eventually get to a point where we can then turn right; always, we have to move in the right direction, regardless of speed. Full speed ahead in the wrong direction will send you to the bottom of a ravine – to many aspiring entrepreneurs, perhaps even a financial loss ravine – fast.
No matter how convinced you are of the brilliance of your entrepreneurial business idea (and don’t get me wrong – it really might be the most brilliant idea ever!), every new idea will benefit from a solid plan of action and an efficient, cost-effective strategic plan before seeking support from others.
Having only an idea – even a great one – to share with potential supporters (e.g. investors, partners, early adopters, vendors, your target market for research/trial purposes) is not going to give you much traction. Ideas are a dime a dozen, but a well-researched plan is compelling and enticing. And, it is the proof supporters will require to demonstrate you are going, a) in the right direction, and b) ready to take off at a fast speed. This is a winning combination where, even still, direction is always superior to speed. Just ask the race car driver at the bottom of the cliff.
In my new book Idea to Entrepreneur, I walk what I coin aspiring inventor-preneurs through the most effective steps to get your idea from the conceptual stage to eventually reach its full potential. The ultimate goal is getting your idea from MIND to MARKET, efficiently, fast, cost-effectively, and in a smart, savvy way. My goal is to help you move in the right direction.
You can find more information about the book here www.theentrepreneurialincubator.com.
Onward and upward!
©Dennis G. Shaver, 2016. All rights reserved.