Execution Over Idea

Quote from a venture capitalist:

To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.

Explanation:

• 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.

End VC's quote.

I have about 10 good ideas a day.  The trick is to execute those ideas.  A great idea for a software company without any software is worth $20.  Talk about your ideas.  You just might find someone who can help you execute that idea.  Keep your idea quiet, locked in a vault, surrounded by NDAs and homeless pitbulls and you are guaranteed to have somebody accidentally execute a crummier version of your brilliant idea.  You still have $20...they have $500,000.

Mike's Law Of Good Ideas:  If your idea is so easily copied, executed and stolen from you by your mere disclosure of the idea...you do not have a good idea.

Besides, even if you flawlessly executed the above described idea, somebody with more money would crush you by stealing the idea and executing it 15 minutes after you launch a beta version.

Moral:  You're value lies in your ability to execute your idea.  Not your idea.  I guarantee you that 1000 people or more have the same idea.

This is a good thing.  You don't need the greatest fool-proof idea with no competition that nobody has ever thought of. 

Do something.