Ideas Are Not Innovations
July 17, 2013 By Matthew E. May
ABSTRACT:
I'm constantly amazed at how often I see people confusing an idea with an innovation. The difference becomes quite clear once you've run a few experiments with some element of the idea.
But there's the rub: Most people struggle to understand what they must do when it comes to testing an idea. In fact, they struggle with the idea of trying to fail early in order to succeed later. Instead, they assume their idea is a good one (it usually isn't), craft a business plan (which holds little relevance in today's disruptive environment), run some numbers (mostly fantasy resting on a leap of faith assumption) and seek investment capital to run with it.
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