8/6/2021 Tip: The Wealthiest Place in the World | Growthink

8/6/2021 Tip: The Wealthiest Place in the World

Today’s Quote

“Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries, and inventors of every sort to get financing.”
~ Ron Chernow

 

Today’s Tip

Most people don’t have what it takes to go from an idea to a commercially viable product to taking it to market. That’s why spending tons of time and energy protecting your idea is often a waste of time. Since the people you’re protecting your idea from can’t execute anyway. And those that can (i.e., successful entrepreneurs) generally have a ton of their own ideas to focus on. So you should be spending your time on execution.

(Likewise most ideas change dramatically once you start getting customer feedback; and you NEVER get that feedback if you keep your ideas to yourself!)

Importantly, the world is littered with quality ideas which never materialize. From motivational speaker Les Brown:

The wealthiest place in the world is a cemetery. Now one would ask, “For what justifiable reason is the wealthiest place in the world a cemetery?”

Simply put, in a cemetery, you will find that there are books that were never written. There are songs that were never sung. There are ideas that were never acted upon-dreams that were long forgotten. If one were to die today, then what ideas and what aspirations would die with him or her?

So, please stop focusing so much on protecting your ideas, and start acting on them!

 

Today’s Resource

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Trivia

Today’s Question: Dean Kamen, the inventor of which self-balancing transportation device, said that “Walking is a remnant of the Dark Ages, an unpleasant time-waster that technology needs to eradicate?”

Previous Question: What is the all-time bestselling car in the world?

Previous Answer: The Toyota Corolla.

In 1997, the Corolla became the bestselling car in the world. Since 1966 more than 44 million Corolla’s have been sold.

 

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