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Are Ideas worth money?

by Theone24
12 replies
Ideas-Some say ideas are the easy part. Some struggle with creativity but follow methods very well. I'd assume it's a combination of the two which make the most money? The idea and then the 'skills + knowledge' to see it through?

What do you do if you have the idea but do not feel you have the skills to complete it to a high standard? Smaller ideas may take a smaller amount of effort, however, what do you do if you have a good idea to make money but felt that doing it yourself would not be as productive (time+financially) as getting the help from someone with the knowledge, investment money and position of authority to complete it.

If that doesn't make sense (sometimes I don't) -This is what it boils down to.

If I felt I could make $6000 with a product and managed to find someone else that could see the potential. Selling it as a WSO.

Wouldn't the idea alone be worth 50%
Assuming that the person that invested in the creation of the product would be allowed to sell the product elsewhere and keep say 90% of their profits.

Without the idea, they wouldn't make any money. With the idea they would make upwards of $10000

There is time and money to take into consideration.

But, do ideas pay?
#ideas #money #worth
  • Profile picture of the author yankforlife41
    I don't think Ideas pay as everyone has tons of ideas. It's a matter of finishing them and putting them into action that's of value.
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    • Profile picture of the author Theone24
      The value is to the 'investor' who creates the product to give value to the customer. It is an extra step. But everyone gets value-from the idea.
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    • Profile picture of the author Canuckystan
      In my experience, newbies in business always think there is money in ideas.

      There is not.

      Execution is EVERYTHING. The value is all in the execution of the idea.

      Here's an example: 1-800-GOT-JUNK. Started in 1998 by a guy and a truck. Now has 220 locations and makes hundreds of millions.

      Garbage/junk collection is not a novel idea. Thousands of companies do it. But the execution of 1-800 is brilliant and they cashed in big where others just tread water.

      Unless you can execute an idea, the idea is worthless.

      Here are some other plain ideas:

      - Create a really good search engine (Google)
      - Sell books online (Amazon)
      - Process payments for ecommerce (Paypal)

      These companies are huge because they execute in a very unique way. The ideas were a dime a dozen.
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      • Profile picture of the author Theone24
        The idea is executed. However, it's done by someone in a better position to create the product to the standard it needs to be. The product that, if done right, will be worth money.

        The Idea has the value.
        The 'investor' (product creator) has value.
        The completed product has value.

        And of course, originality is part of what makes the idea valuable.

        in the example you gave, Google. It would be more like, create a SE that searches 'in this way instead' (Do I mean Algorithms.) But on a MUCH smaller scale. I'm talking thousands, not billions.


        Originally Posted by Canuckystan View Post

        In my experience, newbies in business always think there is money in ideas.

        There is not.

        Execution is EVERYTHING. The value is all in the execution of the idea.

        Here's an example: 1-800-GOT-JUNK. Started in 1998 by a guy and a truck. Now has 220 locations and makes hundreds of millions.

        Garbage/junk collection is not a novel idea. Thousands of companies do it. But the execution of 1-800 is brilliant and they cashed in big where others just tread water.

        Unless you can execute an idea, the idea is worthless.
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        • Profile picture of the author Canuckystan
          How can you say the idea is executed and then say if it is done right, it will be worth money?

          Execution IS doing it right and making money. So it is not executed yet, not even close.

          Your assumption is that without your idea, someone with skills won't make money.

          Ideas are everywhere my friend. Skills always make money, idea people do not. This is reality.

          Originally Posted by Theone24 View Post

          The idea is executed. However, it's done by someone in a better position to create the product to the standard it needs to be. The product that, if done right, will be worth money.

          The Idea has the value.
          The 'investor' (product creator) has value.
          The completed product has value.

          And of course, originality is part of what makes the idea valuable.
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          • Profile picture of the author Canuckystan
            Here's another example for you.

            Say Zuckerberg went to angel investors with a great idea for a site to help people connect with each other, share information, etc.

            Would he had received a single dollar? No chance at all. They would have said MySpace is already doing that.

            He went with a fully executed website with users. That was worth big money.
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          • Profile picture of the author Theone24
            My mistake.

            The idea is still executed. However, it's done by someone in a better position to create the product to the standard it needs to be. The product that, if done right, will be worth money.

            The Idea has the value.
            The 'investor' (product creator) has value.
            The completed product has value.

            And of course, originality is part of what makes the idea valuable.
            Originally Posted by Canuckystan View Post

            How can you say the idea is executed and then say if it is done right, it will be worth money?

            Execution IS doing it right and making money. So it is not executed yet, not even close.

            Your assumption is that without your idea, someone with skills won't make money.

            Ideas are everywhere my friend. Skills always make money, idea people do not. This is reality.
            No, my assumption is that without the idea the person will make $10,000 less than they could-with the value i add-the idea. (10,000 given as an example)

            Originality being an important factor.
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  • Profile picture of the author WebRank1
    Ideas do pay, but we are not talking $10k here. You are basically talking partnering up with angel investors and venture capitalists.

    Or you are talking about having a great idea for a product but you are perhaps lacking the programming skills.
    It depends, but ideas do pay if they are substantial, if you are thinking of selling an idea for a wso then no, that will not pay.

    Hope that made sense, it is 11 in the evening here :p
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  • Profile picture of the author rachelberry007
    I think ideas are everything. For example, facebook, napster, amazon, even google, all of these started as an idea. but the story has to proceed to implementation phase, otherwise idea is worthless.

    Hence idea is everything or nothing, depending on what do you do with it.
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  • Profile picture of the author Stefan S
    What is most important, the egg or the hen?

    I think it is the same with the idea and the execution. They both need to be taken in to consideration. If you don't value one of them, you will not get any money.
    So, the question is not what is the most important one, the important thing is not to leave one of them out.
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  • Profile picture of the author seo-expert
    An idea that offers a unique solution to the problems of others is worth money. This idea will become a product or a service.

    If you know how to sell your product or service online and use Internet marketing strategies to ensure its visibility to web users then your idea is definitely worth some money.
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  • Profile picture of the author westportclan
    Having the idea in the first place and having the ability to see it through at execute it are two entirely different skills. 'Creative' people are often not the type to execute an idea. Likewise, people capable of seeing them through are often not the type of people who would come up with an idea themselves.
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