Have Idea, But Don’t Wanna Execute

When Mahindra started its Rise challenge, my dad was interested in submitting his idea to the contest. He couldn’t seem to find the site to submit and when I googled it, my feeling was that the contest was not about awarding the best idea(s). Rather it felt to me like the winner of the contest would be funded by Mahindra to execute his idea.

Scott Adams, author of Dilbert, once said:
“There's a general misconception that ideas have some sort of market value, if only one can find a buyer. Sadly, that is not the case. Everyone reading this blog is full of great ideas. But usually we don't have the time, talent, resources, or risk tolerance to pursue them.”
Before you object, Adams accepts that patents are the exception. But then again, all ideas aren’t patentable, are they? So most of the time, Adams is right.

So is there no way for someone (like my dad, maybe) who has an idea but doesn’t have the time/inclination/money/desire to execute the idea to still get his idea going? Adams came up with a proposal on how that could be made to happen. Here’s how it goes:
“My model for selling my idea, while mitigating the risk for the buyer, is this: I'll accept 5% equity in the business once created. If no business is created, no money is owed.”
And explicitly, Adams adds:
“I will not be involved in implementing the idea beyond describing it.”

Interestingly, Adams did make this offer on his blog, and he did get contacted by some venture capitalists! Now if only this mechanism/market caught on…

Comments

  1. KumarDecember 13, 2014 at 12:38 PM

    This blog interests me, not because I was the one who gets mentioned in the context of Mahindra's Rise Challenge. The subject of this matter has implications which are worth noting.

    It is true that those who have or acquire the resources to breath life into their own ideas have great advantage. People like Edison and (once his employee and later his rival in power distribution standard) Tesla and two examples in engineering. Marconi is an example in technology/science.

    The question extends further to those who have worthwhile ideas but do not have the ability to implement their ideas due to the reason of 'resource mobilizing capability' plus 'managerial skill'. It is rarely the case when good managers and organizers are the source of path-breaking ideas. The radical or innovative ideas generators can often be from the working level. These people's ideas may just get lost to the world, due to nobody is there to take them up for trial.

    I know I am right because I once had what I call a bright idea. I was thinking about the Carnatic music instruments veenai and mridangam. They are big for carrying to places and can be quite a nuisance when travelling. I imagined that is technologically feasible to re-design them into easy to dissemble and easy to assemble parts. Then they would be easy to carry. Of course the musical ability should not be compromised. But I am no musician and I have no inclination to try anything in this direction, because that would be nothing short of foolhardiness, because I am a rank outsider.

    Recently I read that someone has achieved precisely my dream, my idea. That person could do it not because she was actually resourceful intrinsically, but because she was a musician and she could organize towards a cause which was pragmatic and progressive.

    What about those ideas which people like me imagine which are practical and good, but have to die with the conceptualizer? Some reaching out and some taking in can be the way of the world, knowing the extent of our communication reach.

    ReplyDelete

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