A Good Idea Does Not a Business Make

Having spent the last couple of years amongst academic high tech folks, I have seen and heard about a lot of good ideas. However, what has surprised me, and it should not have, is that the "good idea" is believed to be all you need. Sales and operations, implementation and customer care are unheard of.

I think the cause of this is the rash of entrepreneurial  help groups, on campus and off. The "shark tank" actors come up like carnival pitch men and have not a clue as to how the will build a full company.

In addition they also do not know that only 1% of the start ups are alive five years later and only 1% of them are a true financial success.

The best one I have seen is fathers taking "maternity leave" at the beginning of a start up! Two months leave and then restarting the process. Really, and that is just one of several of the antics we have seen.

The best thing I try to tell them is that a good idea is not a business. No matter how smart you are you have to have someone willing and able to buy it and more importantly you have to deliver it.

One would have thought with all the talk about the entrepreneur and creativity that the basic principles of the local candy store would apply. Sell the Dinky Twinkies to the kids, along with the grape soda....but make sure they have the money to pay for it. Having a store filled with stuff is not a business, unless you move the stuff...for money.