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Derek Sivers says that without execution, even the best idea isn't worth very much. (HT: Rob at BusinessPundit). He even has a method for determining the potential value of an idea:
To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.
Explanation:
AWFUL IDEA = -1
WEAK IDEA = 1
SO-SO IDEA = 5
GOOD IDEA = 10
GREAT IDEA = 15
BRILLIANT IDEA = 20
NO EXECUTION = $1
WEAK EXECUTION = $1000
SO-SO- EXECUTION = $10,000
GOOD EXECUTION = $100,000
GREAT EXECUTION = $1,000,000
BRILLIANT EXECUTION = $10,000,000
To make a business, you need to multiply the two.
The most brilliant idea, with no execution, is worth $20.
The most brilliant idea takes great execution to be worth $20,000,000.
As regular readers know, when that kind of math shows up, Political Calculations(TM) simply can't resist it! Here is the tool for evaluating how much an idea combined with the expected level of execution is potentially worth:
The hard thing to do is to determine how an individual will execute when given the chance. This difficulty is the reason why people without good track records of execution routinely get shot down when they try to raise capital to support their ideas. If you've got the track record, odds are you'll get what you need to make your idea happen.
Welcome to the blogosphere's toolchest! Here, unlike other blogs dedicated to analyzing current events, we create easy-to-use, simple tools to do the math related to them so you can get in on the action too! If you would like to learn more about these tools, or if you would like to contribute ideas to develop for this blog, please e-mail us at:
ironman at politicalcalculations
Thanks in advance!
Closing values for previous trading day.
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