A Quote by Brian Tracy
I think the critical thing is the product or service that you're trying to raise money for. And probably the best description of that, people should say when they hear, "This is what I want to do. This is what I want to bring to the market." They should say, "Gee! That's a great idea" or "Gee! Why hasn't somebody else thought of that before? Well, that's an incredible idea!" In other words, the more a person is delighted, or astonished, or happy with your product, or service, or idea, the more happy they are to put up money for it.
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You need more than just a great idea. Your product or service must add an enormous amount of value to some industry. If the idea isn't completely new, it has to be better, cheaper, or more efficient than what we already have.
If you think of the product as a service, then the separate parts make no sense - the point of a product is to offer great experiences to its owner, which means that it offers a service. And that experience, that service, comprises the totality of its parts: The whole is indeed made up of all of the parts. The real value of a product consists of far more than the product's components.
The late Richard Feynman, a superb physicist, said once as we talked about the laser that the way to tell a great idea is that, when people hear it, they say, 'Gee, I could have thought of that.'
Some people think it's psuedo-science, but it's called morphic resonance. It's when someone thinks of an idea, it makes it easier for someone else to think of the idea. That's why you should do crossword puzzles later in the day, because other people have thought about the answers. That's why you hear about people coming up with inventions almost at the same time, because someone else is thinking about it. That's why whenever I have a really good idea, I'm always worried about theft.
I should say, the one thing you run into is, if you're trying to raise a round you have to decide, well, how much money are you trying to raise? And then you have to justify that to your investors, because they want to know why you [are] raising that much? Why aren't you raising either twice as much or half as much?
Here's what you should say [to an investor]: 'this is what my company does' It's that simple. What you're trying to do is get potential investors to fantasize about how your product or service will make a boatload of money. They can't fantasize if they don't know what you do.
In my opinion, you have to have a vision for how you add value to others through your product or service. Why do you exist? All of us need a reason to get out of bed in the morning and enthusiastically approach each day. Some people say money is their purpose - - my reaction is that, if money is your purpose, you risk running out steam well before you make a lot of money. Money is an outcome that comes as a result of adding value for a sustained period of time. I encourage people and companies to search for and articulate the vision for why they are doing what they're doing.
I often hear that it's unfair that athletes should make what they make versus teachers, because who's more important. But that's not how the market works. Markets don't sign things. You know what you're worth is what somebody will pay you. It's not some arbitrary - the purpose of a company is not to create jobs and health care. That's not why they exist. And it's not to create fairness or any of that. That's not why people form businesses and try to sell a service or a product.
The Sophists had this idea: Forget this idea of what's true or not—what you want to do is rhetoric; you want to be able to persuade the audience and have the audience think you're smart and cool. And Socrates and Plato, basically their whole idea is, "Bullshit. There is such a thing as truth, and it's not all just how to say what you say so that you get a good job or get laid, or whatever it is people think they want.
I have good idea, for if you meet some person from different religion and he want to make argument about God. My idea is, you listen to everything this man say about God. Never argue about God with him. Best thing to say is, 'I agree with you.' Then you go home, pray what you want. This is my idea for people to have peace about religion.
Modern technology has taken the angst out of achieving the perfect shot. For me, the only thing that counts is the idea behind the image: what you want to see and what you're trying to say. The idea is crucial. You have to think of something you want to say and expand upon it.
No product is an island. A product is more than the product. It is a cohesive, integrated set of experiences. Think through all of the stages of a product or service - from initial intentions through final reflections, from first usage to help, service, and maintenance. Make them all work together seamlessly. That's systems thinking.
The idea, shared by many, that life is a vale of tears, is just as false as the idea shared by the great majority, the idea to which youth and health and riches incline you, that life is a place of entertainment.
Life is a place of service, and in that service one has to suffer a great deal that is hard to bear, but more often to experience a great deal of joy.
But that joy can be real only if people look upon their life as a service, and have a definite object in life outside themselves and their personal happiness.
In the entrepreneurial world, when you launch a company, you have a particular idea, a particular product, a particular service, almost always you pivot, you shift. The market reacts to your initial idea. You make some adjustments. It's only after making a few adjustments that you see the success.
Ideas are of themselves extraordinarily valuable, but an idea is just an idea. Almost anyone can think up an idea. The thing that counts is developing it into a practical product.
The more informative your advertising, the more persuasive it will be. Before people making a buying decision, they have many questions. For example, why they should buy from you, why your product is better than other similar products, why they should trust you, and why they should buy it now, etc.
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