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I just want someone to buy my idea from me?

By Stephen M. Nipper

I just read Marc Warnke on Entrepreneurism is not a Lottery Ticket. He nailed it right on the head. It is not a lottery ticket. The analogy I use in explaining it to clients is that an idea is like a recipe for barbecue sauce. KC Masterpiece has no interest in your recipe…they have zillions of their own. BUT, if you take that recipe and build a business around it (e.g., catering, restaurant, bottling sauce for stores), THEN you have something that someone else would want to buy. [yes, there are exceptions to this rule, but in my experience it is generally true] It reminds me of Guy Kawasaki’s post on “Defensibility” wherein he discusses his belief that startups overvalue the fact they have a patent application pending (or patents issued)...continue to full post

Full post as published by Invent Blog on October 24, 2008 (boomark / email).