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How important are ideas? Look at the chart!
This is true about cosmetics/ personal care, and product development generally also!
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8 Replies
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Absolutely. I love to read new patents and I avidly follow the release of new ingredients and often make test formulations to try on the test panel. And I get excited when I see visible results. But “unique”? Hell, no!
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Absolutely agree with this. There are some so-so ideas out there with brilliant execution that are making lots of money.
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Change “game publishers” to “cosmetic makers” and you’d have pretty much the same article. I like that they quoted Mary Kay.
“Ideas are a dime a dozen. People who implement them are priceless.”
-Mary Kay Cosmetics founder Mary Kay Ash -
I think article is wrong.
Ideas are the most important, there is not doubt for me. They are priceless as they can not be manufactured.
They are like the star player of a team sport. If the star player has not good partners he is not going to win the match….it does not matter that he is the best. But loosing the match does not means that he is not the most important! Idem if we think only an idea can success without nothing more. But just ignoring good ideas because his creator does not know how to implement them is not intelligent.Another question is that people misunderstood very often “idea” with “product”, there is the problem then. Example: are Mary key products a good idea? it does not matter as the products are not the idea, the distribution channel and marketing are.
Are lush products a good idea? formulation is not the idea neither.PS: if we follow the table: awful idea with brilliant executions will make you loose a lot of money haha
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I think you’re missing out here. The point is that even the best idea is useless without execution. And great execution with a bad idea is more beneficial than a great idea with no execution. It is not debating the value of a good idea.
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Thanks, @Mike_M.
The basic point, I think, is that it’s execution and follow through that adds value to an idea. A great idea sitting in your own head is worth nothing until you let it out. The more structure, (formula, manufacturing instructions, business plan, marketing strategy, industry contacts, etc.) you can put behind an idea, the more valuable it becomes.
It turns out that the good quality structure/commitment/execution piece is so valuable, in fact, that it can make a lot of money off of a mediocre or even a bad idea. This is true in a lot of industries, not just ours.
But if you look at the chart and work it through, you see that a great idea can turn what would be a $1 million dollar business with a weak idea but great execution into a $20 million dollar business. That’s quite a return for just an idea that’s worth very little on its own.
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Mike I understood the article, I will try to explain better myself. I am agree with you both. As I said a star player do nothing without a good team. Also we can see mediocre teams with no star player (mediocres ideas) that win the competitions because the team in solid general terms (good implementation). But the star player does not have a value of 1$ because having bad partners. The value is the same, it is just that it is a “potential” value.
Here what I wanted to say:
The article says: Why Game Publishers Aren’t Interested In Your Game Idea.
There, it is the problem in my opinion. If publishers just ignored because there is not implementation, they are not good publishers. The Intelligent ones would see the potential in the idea and they would do the implementation themselves, not just ignoring the great idea.
If the article would says: why some great ideas did not work? I would be agree. -
@PharmaSpain - Most companies suffer from the NIH (not invented here) syndrome so there are very few who would take an outside idea and execute it well.
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