Everybody has ideas. In fact, many people have new good ideas everyday. And that’s a problem when it comes to making something a success.
The difference between great entrepreneurs and the ones that never really get much off the ground, is being able to say “no” to good ideas. Focus on ten tasks, and you’ll get ten partially done projects. Choose one thing to focus on, and you’ll be able to apply all of your energy to make that one thing successful.
To combat “idea fatigue” I have developed a system called – Good Idea? Great Idea? When I have an idea I am interested in pursuing I ask a couple people that I respect whether it is a good idea or a great idea. If they agree that it is a good idea, I throw it out. I only spend time pursuing things that pass the great idea test. Everything else gets left on the table.
Say no to good ideas. So the great ones can succeed. #takerisksbeyou
1. a tendency to do nothing or to remain unchanged. “the bureaucratic inertia of government”
synonyms: inactivity, inaction, inertness
2. a property of matter by which it continues in its existing state of rest or uniform motion in a straight line, unless that state is changed by an external force.
The largest impediment to getting things done is not a lack of ideas, opportunities, intelligence, or money. It’s inertia. And it doesn’t get any better as you get older. If your waiting for the day when you’ll have enough money, time, support . . . the list goes on and on, stop. If your waiting for something, you’ve already lost. That day will never come if you wait for it. Go. Do. Now. #takerisksbeyou
There are two forces changing our economy, entrepreneurship, and everything else:
1. Technology – it seems that the internet is eating everything. There isn’t an industry that isn’t affected by it. It’s not the internet of things that is coming. It’s the internet of everything. And just when we get used to the internet running our lives, along comes the Blockchain, which could disrupt everything again.
2. Personalization. Through the 90s and 2000s standardization was the trend. Today, technology has enabled personalization. From what we eat, to what we do, to how we live, everything is becoming personalized; tailored to us as individuals. Your customers’ time and attention is becoming fragmented. How do you meet that challenge to succeed?
What is technology? Knowledge, techniques, methods, and processes that help us complete an objective. A pencil is an example of technology. So are smartphones, light bulbs, and clothes. Yes, clothes.
Money is also technology.
What is money? Something that has three functions. Money operates as a medium of exchange so that we all accept it to buy goods and services, a verifiable unit of account so we know what it is worth, and a store of value in that it holds its value reasonably well.
But money also meets the definition of a technology. Technologies change. So will our ideas of money.