IDEAS ARE WORTHLESS... KIND OF... By Jay Jacobson , March 27, 2006 http://kinetic.org "Ideas are worthless..." Most professional investors will tell you this, or at least something functionally equal to this. I would like to consider if it is really true. They will say that what really matters is (1) a quality team with a proven track record, and (2) the team's ability to actually execute and deliver. At first glance, I happen to agree with that. However, I really agree with the point that is being made, from a business perspective, not the actual statement. Without the idea or vision, what is this quality team rallying around? Without the idea or vision, what is the team executing and delivering? Trying to look at it from all angles, I deduce that ideas are not worthless; far from it. Great ideas are rare and skilled vision to put them together into something real is an exceptional talent of significant value. I previously wrote there are three primary skills required for a successful technology venture: vision, engineering, and sales. A key consideration seems to be that everyone considers the skill for which they are most talented to be the most critical component for the company's success. Of course, this is not true; the vast majority of the time, all of the skill sets must work together to form a successful venture. The reality is that most, although not all, professional investors are sales people. That is their mentality and their background. As such, investors will generally believe that sales is the most important aspect of the company. If you allow an investor to bring in a "professional" CEO to run your business, you will most likely get a sales guy. I am not saying this is always a horrible thing - it is just a fact. To save myself from having to type it again, I will reference something on-topic from my Nuggets of Entrepreneurial Knowledge posting: "For the visionaries: you can generate fantastic ideas and solve grandiose problems, but if nobody ever does anything with your vision, then it is always theoretical. For the geeks: you can build uber-elite foo and write the most elegant code the world has ever seen, but if it has no real purpose and nobody ever knows it exists, then it is simply a toy. For the sales folks: you can fill a pipeline and score deals all day long, but if nobody is creating something for you to sell, then you are just pushing vaporous snake oil." All three talents are inter-dependent. It is natural for us to believe our own expertise is paramount, and we may be right. However, do not diminish the value of the other harmonious skills required to really be successful. A successful business is a multidisciplinary adventure. Are ideas worthless? Not even close. Make it happen!