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The article goes on from there but you get the point.Why is it that some people think their idea is akin to winning the lottery? Who would willingly admit one is of such limited imagination that having a marketable idea is so rare -like the proverbial winning lottery ticket- that one must pursue all course of action to protect it or capitalize on it? Which brings us to “I just want someone to buy my idea from me”. I can’t tell you how many emails I get like that each week. Ho Hum. I’ve taken to calling these people “idea flippers”, except they have a lot less collateral than people who’ve speculated with flipping houses. Nobody wants to buy an idea; execution is everything (Guy says it best). Which circuitously brings me to the best sentence I read today (and what started this whole mess)
…scarcity breeds innovation and abundance breeds a dull conformity. This is an exciting time not a frightening time…
So how do you move from innovation and excitement to execution if money is the issue and economic worries loom? I found some very interesting myths discredited on the American Express website in Myths and Realities of Financing Start Ups. From what I’ve personally experienced myself and from watching others, these particular things ring true (and I’d imagine American Express would know):
- You don’t need a lot of money to start a business. $25,000 was the figure quoted but with the right skill set, I’ve known plenty of DEs to start with less.
- You and maybe your family are likely to be your only investor. There are no angels and besides, are you sure you want one?
- You won’t find rich investors; 32% of investors have an income of 40K or less and 17% have negative net worth.
that is a pretty specific example. maybe you are earlier in your development. Maybe you are saying things like
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