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…
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.
ReplyDeleteIt 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.