Ideas Are Nothing Without Execution

2

2012/07/24 by lingdecklee

Last Thursday night, what better than to spend it at Mr. Jamie’s event. Many entrepreneurial-minded individuals showed up. Got a chance to share my ideas and dreams with a couple of interesting people. Enough reading and thinking freed me from the mindset of “If I share my ideas, someone will steal it!” to one of “Let me tell you how I am going to change the world with this great idea and make some money from doing it!” Come on, people! Keep the great ideas private and they may not ever see the light of day. Share it and you may have a shot with finding the right team to execute the ideas. If it is something you know every well (ie. your domain knowledge), it is unlikely someone else can actually steal it away from you. If not, what will your loss be since you are more likely than not to be unable to commercialize the ideas anyway?! Don’t hide yourself behind closed doors imagining the next great product/service will emerge if you spend long enough time brainstorming on something. Don’t believe me? How about trying to randomly pick a new startup idea and see if you can do it better than the startup that came up with the original idea? Unless you are pretty sure you can do it better within shorter time, it is better picking on something your own size!

Last Thursday night, I was forthright about my idea and its revenue model. I know very well that between the listeners and myself, I have greater likelihood of making the idea work. This is not me being cocky, but anyone can try to find another lawyer who happens to want to do an internet startup and have the right entrepreneurial mindset and tools (not to mention the same experience, connections, and passion) to execute it. What I intend to create is rather rare. How do I know? Because this startup idea came about when I encountered a problem I currently have in my line of duty. If I have this problem and see no effective solution out there, then surely someone else in similar position will also have the same problem. If my startup idea can solve my existing problem, then it surely can solve the same problems of countless others. So a great idea is born and all I need right now is a team  that can help commercialize it. That night, money became less important; people are. All I could think of that night was how could I interest others in joining!

More on this later.

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2 thoughts on “Ideas Are Nothing Without Execution

  1. Spark N Launch says:

    Thanks for sharing your experiences. Sharing your idea is certainly better than keeping it hidden. What is the problem you are trying to solve? Good luck with your journey.

    • lingdecklee says:

      Hey there,

      My sincere apology for the late response. Got busy with other new challenges: starting golf, getting back to basketball, and lately, preparing myself for half-marathon. Doing a startup is as challenging as a marathon. So, it pays to take care of my health and energy level too to the extent that I know I can take my startup all the way to the finish line (wherever this may be). Plus, it is a great way to rediscover your self again.

      Okay, about the problem I am trying to solve. I am a legal manager of the company I work for and we often need to set up new companies in foreign jurisdictions. After doing it twice in two different jurisdictions, I conclude that the conventional methods of search and referral are really time-consuming and costly. I thought to myself, there must be a better way to do this. Then it hit me: create a platform that links businesses all over the world to the local legal service providers – essentially standardizing the entire process in between. i.e. the platform to go to to incorporate a new business entity in the selected jurisdiction. I know this will work since I am actually building a product/service that is solving my own problem and my company is my target user!

      I hope the brief explanation makes sense to you. I will track progress here, so do stay tuned. Cheers!

      Jeffrey

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