Without execution, an idea is worth max $20
I like this post by Derek Sivers.
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.
I like this because it reminds me to get going and DO something already. Those ideas keeping me up at night bouncing around in my skull aren’t going to be worth anything or result in anything except loss of sleep if I don’t actualize them. Also, you don’t have to sit around waiting for the perfect brilliant idea! Got one that’s even just “so-so” or “good”? Execute well and it’s still good enough to do well enough financially to fund the next idea’s execution, and that’s what it’s all about, right?