I had breakfast today with a really (REALLY) insightful friend. He shared many pieces of wisdom, but there was one interesting theory that stuck with me.
This friend had a lot of experience working for startups (before it was cool) and was involved in a lot of the day to day business decisions. Years back, a venture capitalist told him about the 25-5-1 rule while talking about the viability of his great new idea:
25 people already had your idea in Silicon Valley, 5 came up with it in Austin and 1 had the same idea right here in Kansas City. What makes you any different from them?
It was a validating moment, I too believe ideas are cheap commodities. In fact, I think that’s why I connected so well to the GoDaddy.co commercial during the Superbowl:
Yes, you’re unique….you’re an amazing individual…your mom thinks you’re hilarious…but your next great idea has been dreamt up by a number of other people. Facebook wasn’t the first social network, Google wasn’t the first search engine, Southwest wasn’t the first airline, Henry Ford didn’t make the first automobile.
All of these companies had the novel idea but also found a way to get it done in a manner that their competitors couldn’t touch. They built ideas that spread virally, they unlocked sustainable/revolutionary business models, they found ways to compete with non-traditional competitors, they developed a more efficient production system. Most importantly……..they EXECUTED.
Don’t be the guys on the couch, and more importantly don’t fool yourself into believing simply registering a web domain will get you to the finish line. Build a unique and sustainable vision, EXECUTE where others are afraid to….earn that Sky Waitress.