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Published:July 9th, 2007 04:26 EST
So You Think You Have a Great Idea?

So You Think You Have a Great Idea?

By Joel G. Block (Mentor/Columnist)

 

This is a concept that a good friend of mine recently brought to my attention. He didn`t actually state the concept " instead, he proceeded to tell me about a great idea he had for solving one of the world`s great telephony problems. He said that whoever could solve this problem will make billions of dollars. I agreed that he was probably right. So I asked him if he could implement the solution to the problem. He said he didn`t know, but whoever could do so will make a lot of money.

In other words, he had no idea of how to implement his great idea.

This is a common situation for entrepreneurs who are ceaselessly on the lookout for the solution to the next big problem. While it certainly beats building a solution for a problem that doesn`t exist, it doesn`t put dollars in anyone`s pocket.

If you can`t solve the problem, then you aren`t going to be able to monetize the solution for your benefit.

So, as you are working hard every day to build your company, or as you`re building your career, align yourself with people who can solve problems or secure the services or the abilities of people who can do so. It`s great to identify the problem " and it`s always great to ask how you can monetize the solution to the problem " but if you can`t actually solve it, then you can`t monetize it and put the dollars in your pocket.

About Joel G. Block, President of Growth-Logic, Inc.

Often dubbed a "Growth Architect" by his clients, Joel Block advises companies on explosive growth strategies by driving revenue and sales. Well known in the capital markets, Joel is a successful entrepreneur, speaker and advisor. To bring Joel into your company, please visit www.joelblock.com or www.growth-logic.com.