Wednesday, 13 July 2016
Turning a bold idea and putting it into action
Recently I had the pleasure of meeting a potential client who is working on a project in the food sector. Distributing food equipment to restaurants and other vendors.
He had a great idea for a side project. This entails him to become a landlord of which he would be renting a space for chefs and caterers. They would use his equipment and location to prep their meals for their clients.
Fantastic idea however, does he believe in his idea?
I want to examine what it takes for someone to believe in their idea. How do you leverage your resources to better fund this idea? How do you know there is a demand for this market? How do you know who your competition is?
An idea without action is just an idea.
There are tons of great ideas, the execution of those ideas matters more than the idea itself. So how do you know when someone believes in their idea? In short they make every move possible to bring that idea into life. How?
Executing an idea means you are willing to invest time, money, and this is the most important, other people's time. Why is the latter more important you may ask? Because when you make that INITIAL leap and sacrifice other people's time it becomes psychologically demanding on you.
You either emotionally or logically understand that by deciding to leverage someone else's time first, you believe it is time worth spending.
How is this so? Isn't easier spending other peoples time than investing your own time into the project? Initially no. After the idea is launched, it than becomes a decision for you to spend your own time doing it or wasting someone else's.
See the thing with our time is we find it invaluable. Most times it is hard to put a price on your own time. Do you compare it to the time you sit and watch T.V. or read a book or the time you earn a salary during work?
So our time becomes priceless, however using someone else's time there is a price on it. That investment in them than becomes a choice. The money you will spend on someone else's time is now putting a price on your time. Because you had to initially work to earn the money your going to spend.
This may seem confusing so let me simplify it, your time no longer is measured by how long you watch T.V. but, instead it is measured in the value you earn at your work.
"When the individual's values and desired outcome of the goals are aligned we become totally COMMITED, we pay more attention, are more resilient, and are way more productive as a result." Locke and Latham.
Becoming committed to executing the idea requires an alignment with what we believe and what our goals are for the outcome.
How do you leverage your resources? Well if you believe in what you are set out to execute will work, and you see the bigger picture, there is a way to do it without spending your own money on the project. Although, my belief is if you truly believe in your idea you will invest your own capital and time into the idea.
One way to do this is to partner up with someone or with an Angel Investor who believes in you. This can be both good and bad.
Let me know what you think of the rest of this post HERE.