Author David Hugo Hargreaves the Growth Guru at Charterhouse: a family man and walker of the family dogs.
I despair whenever I hear this!
It’s a question that pop’s up on every entrepreneur Facebook and LinkedIn group and in every networking event I attend. It’s a question asked by every person who thinks that start-ups are like a lottery win. And it’s a question that demonstrates a total ignorance about business & building the actual machine!
It’s all about looking for a silver bullet and I need to tell you, they don’t exist
The thought is though, as long as I can come up with an incredible idea, I have an asset that can be turned into money by someone else. It’s a get-rich-quick scheme and its all bollocks
A sure-fire way to transform an idea into something tangible, something that can make money is to actually build it from the ground up yourself and a great team.
Unfortunately, ideas are cheap and easy to come by. Ideas come to everyone, a dozen times a day. And at their core, no matter how good any one of those ideas is, it’s not worth a penny.
And you want to somehow sell your idea to a big tech company?
At their core, every £Bn company is just a good idea executed well. Google is an advertising company. With a search engine idea copied from Yahoo & a dozen other companies. Facebook is MySpace with bells on. Snapchat is a camera app. None of those ideas are £Bn ideas. They’re great concepts, executed well, by skilled people who were enthusiastic and skilled enough to get it done.
But if you’re looking for an easy way to turn your idea into a hit, what you’re really enthusiastic about is money. You don’t actually care about turning what you’ve dreamed up into a product or a company. And this is where you will fail.
If you truly think your idea is worth something, there is only one thing to do. Build it, even on a micro scale. You have to put in the time, energy and money and effort to build whatever it is and turn it into a reality. Yourself.
Also don’t expect investors to invest in your IM if you have not actually traded a micro version of your idea!
Yes I am saying that you should not spend all your time writing a BP, IM and Deck. You need to actually do the actual work, start trading it, even on a micro basis. After all how do you know if people will actually buy your product or service if it’s just in a plan?
You have to dedicate years of your life to it, and focus on it every day, alongside your day job or your main projects or whatever it is you do. You have to forget about the idea of getting rich quick, because let me tell you, it’s not going to happen.
If you need to raise money, don’t expect investors to invest in you if you have not put in your own cash and the cash of friends and family. Investors want you to have skin in the game.
You also have to learn how to run a company or find partners who have a considerable level of experience running and building high growth companies.
At the end of all that, the chances are, your idea won’t even be the same one you started out with. It’s probably going to be something completely different, with a long path of evolution and revision behind it.
So what should you do with your idea?
I don’t know because the answer is up to you. You can give up on it, or work on it, but there’s no other option. I will tell you this: success in business is about work. Really, that’s the secret weapon of every entrepreneur who has ever turned what they thought up into her life’s journey.
For the people who are prepared to put in the work, ideas are worth something — they fuel the fire.
Charterhouse supply the route to finance, directors, system, training etc to help your business grow.
If you think Charterhouse can help you contact:
www.www.growthhubuk.co.uk or call us on +447521070238