Come along for the ride.
The pitch deck, product, and a prayer doesn't work. Neither does the concept that your idea will open the door. In fact, we've found that Entrepreneurs are fixated on the "Idea" more than not.
We join incubators, we seek lawyers, patents, and NDAs to protect them, we quit jobs with them in mind, and we chase dreams of being wealthy and successful, all because of an idea. It’s time for “the Idea” to die.
“There’s some bizarre mythology that’s been created in the startup realm that ideas themselves have an incredible monetary value. Spoiler alert: they don’t.” - Wil Schroter; Startups.com
Society’s fixation on the idea is problematic. It implies ideas are unique. It implies Entrepreneurs have secrets to protect. It implies that people will fund or pay for that idea.
Ideas are temporary, dynamic, prolific, and fleeting.
Successful Entrepreneurs churn a dizzying array of ideas. They toss them, fast and efficiently. What you need to have are a mission, vision, and values. (And resources).
A startup is akin to the order to “take that hill.” That’s a mission. The vision is the plan. And our values explain how (what we will not do).
From there, we constantly try different ideas to achieve that mission. The idea is what fails.
The idea is some soldier showing up and saying, “I have a pocket knife, I’m going to charge ahead and take it!” And you know those Entrepreneurs when you hear them… They don’t take feedback, they think they’re right, they think their idea is special because they had it.
With just the idea, nothing is going to happen. No one will follow that soldier and it has the slimmest chance in hell of actually taking that hill.
What’s the vision, what are our values, and what resources do we have to do it? Resources... people, tools, and capital.
What’s that saying about war? Once it starts, the plan goes out of the window? What works is when that charismatic leader with experience and vision, motivates people to stay focused on the mission, change plans, and keep trying different things until it works.
It’s time for the idea to die because the secret to success is that you should have another one before you finish reading this sentence.
Learn How to Move Beyond the Idea
Actionable courses taught by Entrepreneurs who have actually done it. They live it, they breathe it, that's why they teach it.
The right connections can open the door. Who you know is half the battle.
Join Michael Ham in celebrating educators all around the world through his #MyTeacherHero Campaign.
Innovation lives in Colombia! Meet the graduating startups out to change the world of Media Technology!
Drumroll please! Join us in congratulating the winners of Innovation Korea.
Highlighting the panel of judges that helped make Innovation Korea a success!
Just launched Our Collective Cohort #4! This iteration of our Collective #MediaTech Incubator marks several firsts: the launch of our first cohort entirely virtual and the first cohort to include participants outside of Austin, Texas.
Startups can and should leverage the power of mentorship. Introducing our incredible mentors!
In many of my startup talks, Tullamore D.E.W.'s,...
We've been increasingly dabbling in product and...
More and more budding music artists,...