HOW MUCH DO YOU THINK MY AWESOME IDEA IS WORTH?

Not much.

Hard, painful truth but there you have it. NOT MUCH.

Every day I get numerous emails from entrepreneurs describing their newest ideas.

Because what you think is your brand new, exceptional, magical, out-of-this-world idea that no one has ever thought of ever before- is in fact, not as groundbreaking as you wish it were.

Every day there are emails in my inbox from numerous startups and entrepreneurs with vivid descriptions of their newest ideas. Sometimes the emails are mysterious, that is, they hint of an idea, or the potential of it without really talking about it but those are rare. What I do often read, fortunately, are ideas that are backed with deep rooted passion bordering on obsession. They dream big, really big, to the point that there’re plans for massive global expansion even before they’ve secured their very first customer.

Renowned, respected businessmen and entrepreneurs, whether during media interviews, conferences or seminars, speak easily about the very first deal that they signed, or the very first customer who walked into their shop, or the very first user of their services.

And that’s the whole point, that a dream stays a dream until it reaches its first committed user.

Venture capitalists aren’t going to invest in ideas and dreams. Take it from us. We work with some who represent the biggest firms in the world. They are constantly seeking out great entrepreneurs who offer out-of-this-world ideas, some even bordering on the bizarre, yet, when presented with a plan that focuses on implementation and execution; they value these individuals enough to listen.

Part of what they tend to look out for is not merely obsession. Every entrepreneur is obsessed to a relevant degree, but whether one who is obsessed with the idea alone or obsessed with executing the idea determines whether they pay attention. That’s not all, show them the carefully-thought-out plans, show them the beautifully-drawn-out graphics, show them the neatly-assembled statistics and collaterals and prototype, and then there’s always that one question that they throw out.

The one question that nearly all entrepreneurs hate, refute, defend or deny.

“What happens when all this, all these plans you’ve made, screw up?”

“What happens if no one wants this *fiddles with product* thing you’ve made?”

“What do you do if you get this *jabs at product* out and your market thinks it’s crap?”

 

Great entrepreneurs don’t waste too many hours talking and talking and talking about their ideas. That doesn’t mean they are less passionate. What they do is to spend their time translating that passion, that obsession, into your obsession. You- the one who never thought you wanted this thing. You- the one who didn’t even know you needed it. You- you’ve probably fantasized for a solution as this and who is now grateful that the product has at long last been created. It takes a certain real effort to do it, to execute it and these guys have their real users to show for their work- users who validate their product, users who want what they’ve done. They don’t stop there. They think about building upon it. They think about sustaining what they’ve built and they acknowledge that they’re ready to rinse and repeat over and over again until their product reaches the quality that their users demand, until their product satisfies the practical needs of their users and turns them into loyalists.

So to answer that question about how much your awesome idea is worth?

Not much.

What then should I do to increase its valuation?

Get busy.