Economy of Ideation.

7th May 2015

Read Time: 1:39

Economy of Ideation.

Dream big, but do it in a hurry.

You've got to eat while you dream. You've got to deliver on short-range commitments, while you develop a long-range strategy and vision and implement it. The success of doing both. Walking and chewing gum if you will. Getting it done in the short-range, and delivering a long-range plan, and executing on that. ~ Jack Welch

Wouldn't it be cool if...

We've all spent an evening around that table with a group of big brains, listing endlessly in a sea of "what-if's" and "wouldn't it be cool's". For we brave entrepreneurs, these are the good times. We've got no agenda for the meeting. We're sharing ideas, bouncing concepts, and crowdsourcing dreams. These are great and necessary events. Honestly, they're how we built the companies that have come to define us. The problem is that so many great ideas die in this phase of development. The conversations are engaging, immediately rewarding, and ultimately addicting. We all love coming up with the great idea among our people. Now we've got to execute.

Build small, learn fast, iterate often.

Sometimes 'right now' is far better than 'right'. Get yourself and your idea out there. Get off the cocktail napkin phase and put together an MVP. Most importantly, put that product in peoples' hands and listen for feedback. Did you miss your mark? Time for v2 planning. At least now, you've got a guided conversation building toward a more market-focused product. Your customer has told you what they want. Now you've just got to build to suit.

Michael Paladino, founder at RevUnit says, build small, learn fast, iterate often. Get your ideas out there with the solid understanding that you'll be making changes through the lifespan of the product.

Final thoughts.

A lot of great ideas die on the vine due to a fear of failure. I've seen truly intelligent people overthink an idea to the point of failure to launch because they're paralyzed with fear. Failure is always an option. You've just got to be able to learn from it and move forward. Fail fast & learn. The next product or iteration will benefit from those learnings and be more focused than was possible before. You've got this.

Blog by Jay Thornton