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I am an idea man.  I have a million of them.  My mind never stops analyzing things around me, and I come up with new perspectives on old services all the time.  However, people have always told me that ideas, on their own, have no value.  They are worthless.  The value lies solely in the execution of said idea.  I refuse to believe that, and want to find a way to monetize my ideas.

 

For example, Dan put out a free ebook of 48 business ideas.  He has had thousands of downloads of that ebook, and has spoken on his podcast about turning that into a paid item.  Is that not placing a value on ideas?  

 

Consultants offer what to their clients?  They offer ideas.  They analyze the situation of the current business and give that business ideas on where they should go and potentially how they should get there.

 

I see people like me, that have tons of ideas, usually as frustrated entrepreneurs.  I already have my own businesses, and I could never do everything that comes to my mind.  Some of these ideas are things that I could start tomorrow and that I could guarantee would make money, but I have neither the time nor the focus to stick with that idea to make it into something.  I know that I'm not alone in this.

 

On the other hand, I see people on forums that lack much creativity and imagination in such a way.  They might be great at executing an idea if they only had one that sparked them.  Occasionally Dan will talk about how he can have ten new ideas hit him on the way to the mailbox, and how he cannot understand how others don't seem to have any.  Well, they just aren't wired like him, or me, and I think that he and I and all of the other idea-men (and women) out there can help them with creative ideas that they can take and run with.  

 

Lots of people want to do something creative in business, to pursue a niche or a spin on something that exists.  People want ideas on how to market their product or services.  People want to BUY that product or service that is created by the blending of that idea, and the execution thereof.

 

So then, would people BUY the idea that starts that chain reaction?  If I, or someone else, could give you (presumably a person lacking a unique idea that sparks you) an idea that ignites a desire in you to pursue the execution of it, wouldn't that idea be worth something to you?

 

I purchased a domain name a while back because I want to set something up that links those with ideas with those that want/need those ideas.  I just don't know whether to believe that ideas are something of value to others out there or not.  I can reason on it, that they obviously do have value as people pay for ideas all the time, they just buy ideas cached inside a product (Dan's ebook) or a service (consulting).  

 

Any thoughts?  I know that the norm is to discount the value of ideas alone, but I think that they have value.  Perhaps I just haven't thought about how to package mine in the right product or service in order to monetize them yet.  Maybe the idea-man needs an idea.

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Hey Michael,

 

I think you are on the right track.  Ideas definitely have value.  It is hard to do anything original or even significant without an idea.  

 

On the other hand, just because it has value doesn't mean the marketplace values the idea.  For the marketplace to value an idea, it usually has to be accompanied by execution.  I was a consultant for a few years and rarely got much praise for ideas.  It was the execution plan that was valuable.  

 

While I agree with you that some people have more ideas than others, I still think ideas are easy to come by.  Ideas that are powerful enough to motivate us to action are a different story.  The important aspect of an idea's value is not what it is worth in the marketplace (that will change once acted on), but what it is worth to the individual doing the executing.  

 

If your millions of ideas are not worth enough to motivate you to action, they may not be valuable to other people.  On the other hand, you may be on to something if you would chase down each of those ideas given the time.  If you have ideas that are worth acting on and are able to convince other people of that (something Dan has done masterfully), you are in for a lot of success.  

 

I think you'll know when you've landed on the right idea for yourself once you can't help but take action on it.

On the other hand, just because it has value doesn't mean the marketplace values the idea.  For the marketplace to value an idea, it usually has to be accompanied by execution.  I was a consultant for a few years and rarely got much praise for ideas.  It was the execution plan that was valuable.

 

But, the marketplace does value ideas, and you do not have to be the one to execute them, as in the examples I gave.  Dan doesn't have to execute even one of his 48 business ideas, and the consultant doesn't have to do more than show a plan (full of.........ideas) on how that business can turn themselves around.

 

Maybe there can be some sort of marketplace for ideas.  I guess maybe that already exists, in fact, in the form of ebooks like Dan's that are sold throughout the internet.  Most are just people's ideas, packaged in a pdf format or something similar.  Or, that marketplace exists offline in what Dan does as well in coaching people.  What is he selling there but ideas for someone else to execute?  (Okay, I do realize that it is more than just ideas, but essentially it is fleshing them out and offering them for someone else - the coachee - to act upon.)

 

 

 

I wanted to show you something from your question:

"Consultants offer what to their clients?  They offer ideas.  They analyze the situation of the current business and give that business ideas on where they should go and potentially how they should get there."

"So then, would people BUY the idea that starts that chain reaction?  If I, or someone else, could give you (presumably a person lacking a unique idea that sparks you) an idea that ignites a desire in you to pursue the execution of it, wouldn't that idea be worth something to you?"

 

It's fun when I read these statements, because you naturally pair ideas with some sort of action if they are to be of use to anyone. Ideas do have value when they move. You can either begin doing some legwork on them (guy on Dave Ramsey Show recently earned 5million+ from doing this), you could share ideas through consulting/coaching, or spread the ideas using a paid for service or product (though you will need to build your platform to get into the market). All of these are ways to monetize ideas, but it does take some movement. 

 

So, I'd say write down most of those ideas, dream of the best ways to share the good ones, begin to build a platform of being "The Idea Guy," and start helping people, even for "free" at first. Even if you don't personally take action on specific ideas you will still need to find out how to best ship them if you want the to earn you some income.

 

Both of you are correct.  Ideas do take some sort of action.  However, it isn't usually the guy with the idea that has to take the action.  Dan Miller doesn't have to implement and execute his 48 business ideas, and the consultant doesn't have to be the one to turn that business around, just point them in the right direction with his/her ideas.

 

Like I said, ideas have to be packaged in a product or service (ebook or consulting).  Both take action of some sort, but neither have to require the time intensive action needed to carry those ideas through.

 

My ideas aren't sitting on a shelf because they don't motivate me.  They sit because I've already executed on some ideas and already have other businesses that take my time.  Time is finite, whereas ideas are not.  Perhaps in the end, that is where my frustration lies.  It isn't that I don't have ideas that others might like to implement, it is that I don't have time to do something useful with the flood of ideas that I have, ideas that would have value if someone else had them with more time on their hands.

Michael,

 

I think you hit the nail on the head when you said "Ideas have to be packaged in a product"

 

I have been a business consultant and coach for many years. I rarely get the opportunity to execute my plans and recommendations. My job is to evaluate the business model and offer recommendation on how the owner can improve effeciency, productivity, etc..

 

If you have a shelf full of ideas you will need to package them in some way. Perhaps a blog page where you can talk about various ideas and offer a downloadable list for a small fee. You could also offer the list for free as a way to capture email addresses for a larger opt in compaign.

 

The key, as you noted is to "Package" your ideas in such a way that people will want to access them. For consultants and coaches (over time) we become the field expert in a given area. My personal specialties are Business Start-up, Supply Chain Management and governmental contracting. As an example, I received a request last week to evaluate a regional media provider. While my expertise is not in media, the client holds an appreciation for my experience. I have subsequently pulled together a team consisting of media, education, marketing (including SEO) and business professionals to conduct the evaluation.

 

Again, it all comes down to whether you have the time and desire to package the ideas?

 

Hope this helps.

 

Terry

Real Business Solution Center

 

 

Some options that I thought of:
-hire an assistant to follow up on ideas to see if they are viable. If viable, then package them to sell or have the assistant go to the next level of implementation for you to make money while someone else does the work.
-if you have a trusted friend who is unemployed or looking to get out of a JOB, give them a leg up and set them up and take a percentage of the profits.
-Do you have kids or relatives that could do the leg work for you? Get it going and sell the startup off.

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