The Value of a Great Idea

$100000, that’s what I'd say a great idea is worth. Well ... it could be for someone, it just depends on the circumstances. Great Ideas are like Bad Beats in Poker, everybody seems to get them, and they want to tell everyone else about them. The question is -- is your great idea worth a Million Bucks or the price of a Mega Millions lottery ticket? This can only be judged in the context of the situation.

The first part of the equation for an idea’s worth is yourself. Are you a visionary or a reactionary? Do you have unique experiences and skills that no one else possesses? What have you accomplished in the past? How passionate and dedicated are you to the idea? Can you convey that vision to others and motivate them to the cause?

While getting funding is definitely about the market, competition, numbers, etc; it often comes down to just getting one investor to believe and trust in you.

But, the value of an Idea is more than just one person. It’s also the people you surround yourself with; whether it be your core team, family members, business advisors, or employees. Their collective knowledge and the company’s resources (money, intellectual property, business contacts, etc) provide the fuel for launching a new idea. Being a passionate leader with a great team and plenty of resources is a great start, but the most important part in the valuation of an idea is answering the question: how well can you execute?

As you can see, you really can’t determine what an idea is worth until you actually follow through with it. So, while a great idea is something to get excited about (even daydream about), don’t dream for too long and get your butt to work to make it happen.