How Much Your Invention Idea Is Really Worth
You came up with a great new idea. Something that fixes a big problem that tons of people have. And something you think can make millions of dollars. And so you’re thinking that your idea is worth millions of dollars.
If so, you probably don’t want to read on. Because, in my opinion, you invention is worth nothing. Yes, zilch, nada, zip, zero…you get the picture.
So, why do I say your idea is worthless? Because the value of an idea comes in the execution of it.
Was the idea of starting an online shoe retailer worth anything? Others had tried it before Zappos and failed? So the idea had no value. But Zappos was able to execute on the idea and turn it into a billion company.
Or the idea for an online grocery service. Webvan had it first. And burned through hundreds of millions of dollars before going out of business. But Peapod later took the same idea and created a successful company.
All ideas have degrees of potential. And if your idea is unique and has massive potential, that’s great. But don’t just stand still and think you’re sitting on a goldmine. Since only when you execute on the idea, and realize its potential, do you create value and wealth.
Dave Lavinsky is the President and co-founder of Growthink. Since 1999, Growthink has helped thousands
of entrepreneurs and business owners start, grow and sell their