The Idea, The Idea, The Idea — by Dan Lynn
By Dan Lynn
So you want to have your own business do you? What are you going to do?
That's the big question. There was no doubt about it, I wanted to have my own business. The question was what I would do. The idea. I just needed an idea. I'd lay awake at night praying for the idea. Please, just give me the idea and I'll give it everything I have. I just need the idea.
This really bothered me. What came first - the entrepreneur or the idea? In fact, I wrote a paper in college with the same title. I was obsessed with "The Idea". I was an entrepreneur looking for an idea. My biggest worry was that I would never discover The Idea - and people would say I was full of shit - all talk and no action. In fact, when I was at AT&T a consultant from Mercer Consulting told me that "99% of people who want to start their own business and don't by the age of 30 never start their own business". That scared the hell out of me! I was 35! I thought "I am full of shit!" Is it too late?
Now, in the world of AI, ideas are easy. AI can do market research to find new opportunities given the latest trends. It can help you find ideas that match your passions and make sense given your experience. So, now ideas are easy - action is hard. Take action!
Questions this Key Learning answers
How do I find a business idea that fits me?
The author says AI can research opportunities, follow current trends, and identify ideas that match a founder’s passions and experience. But our analysis stresses that generating possibilities is no longer the main challenge. The more valuable task is recognizing which opportunity fits a real need, the available means, and the founder’s particular experience.
What do I do when I keep waiting for the perfect idea?
Dan Lynn describes being obsessed with finding “The Idea” and fearing that waiting made him all talk and no action. His lesson is that ideas are now easy while action remains hard. Our analysis adds that more brainstorming can become a way to postpone choosing; speaking to customers and making something produce information that more prompting cannot.
How do I know which business idea is worth pursuing?
Our analysis says judgment must choose the opportunity that fits a real need, the available means, and the founder’s experience. Action then tests that judgment under uncertainty. Rather than polishing a plan or generating more options, the author’s lesson points toward taking action, while our analysis suggests testing the idea with customers or a working prototype.