I have a lot of ideas. I don’t have a lot of time. Many of my ideas are never executed, which becomes readily apparent every month or so when a domain, purchased in a fit of excitement, expires. The founder of CDBaby has a very short and to the point statement about ideas and execution that harkens back to my secrecy pondering.
AWFUL IDEA = -1
WEAK IDEA = 1
SO-SO IDEA = 5
GOOD IDEA = 10
GREAT IDEA = 15
BRILLIANT IDEA = 20NO EXECUTION = $1
WEAK EXECUTION = $1000
SO-SO- EXECUTION = $10,000
GOOD EXECUTION = $100,000
GREAT EXECUTION = $1,000,000
BRILLIANT EXECUTION = $10,000,000
In short, ideas alone are worth less than the amount of cash you have in your wallet. The author gives some multipliers and a brilliant idea with no execution ends up being worth $20.
Even more interesting to me is the good living that one person can make with middle-of-the-road ideas and execution. Not that I strive for mediocrity, but a hundred grand isn’t chump change.
You can make it even more apparent, as I do, by never letting those domains expire, keeping them around as cobwebs, promising yourself that “some day” you’ll get around to working on them again.
🙂