I’ve been part of several unique startups. I’ve launched a few entrepreneurial businesses. I even won the MOOT CORP competition at the University of Texas with a game idea. AND, I’m still working for a living. Entrepreneurism is a science. There are great lessons and books about how to evaluate ideas, how to build a team and a business plan, and THEN ask for funding. None of my ideas got funded. 

Turning Your Idea into a Startup

I tend to have a lot of ideas, which is a kind way of saying that I’m easily distracted. The way I control this impulse is by recognizing that most ideas are not worth much without solid execution. So when I talk to someone about their idea, I assess our ability to work together with a set of questions:

• Do we have the skills on the team?
• Do we have the time to devote to the extra hours?
• Do we have the resources (can we get loans)?
• Do we have the chemistry (how does the team function)?
• Do we have the motivation?

It’s amazing how many ideas don’t make the cut if you’re being honest. In many cases, I’ll do something because I’m not sure. I hope that in the process of doing, I’ll find out.

I have to disclose this ambiguity to any involved parties because otherwise the second battery of flight tests will fail:

• Are we maintaining momentum?
• Are we setting our expectations correctly?
• Was our initial assessment accurate?
• Do we keep going?

Not many personal projects make it past the second battery either, at least in my limited experience. That’s why if you ever find someone to team up with who can repeatedly pass this test, you should make every effort to work together. You have found something magical.

The idea may still fail, but with a partner and additional support, you can make several runs at it until you find a formula for the product or service that can launch and take a team of people with it. It’s an awesome rocket when you can get on it.

In my case, there have been a lot of distractions that might not have made it out of stage one had I assessed my commitment or financial ability to go without income until an angel investor was found. Even then, the startup money is primarily going to companies that are already shipping and showing cash flow. If not profit, a startup has to demonstrate a trajectory toward high growth. It’s the red that will kill ya, and quick.

As Steve Jobs said to Rupert Murdock about Fox News,

“You are either a creator or a destroyer.”

Let’s put ourselves in the first category, shall we?

Ideas are easy. We’ve all had breakthrough ideas and then done nothing with them. It’s the entrepreneur who has figured out how to evaluate and execute on the good ideas. And then see what happens.

Go. Do. Create! Let me know how I can support you.

John McElhenney — let’s connect online
@jmacofearth & Facebook & LinkedIn & The Whole Parent

Please check out a few of my books on AMAZON. 

Especially this one, about living a creative and human life of intention and joy. 100% human generated – with the exception of ai-assisted spelling.