Kill bad ideas fast.

Reading a interesting article in Mashable titled Why Small Risks May Yield Bigger Returns for Startups.  My impression is that the author, Matt Silverman, is challenging the idea that great companies come from long, planned, thought out ideas.  He makes a compelling argument and lists many examples of small bets that turned into huge business, like:  Google, Groupon, Facebook, HP and Twitter.

Bo Peabody’s book Lucky or Smart talks about this concept.  He refers to it as serendipity.  It’s what else happens when you’re trying to build a business.  It’s the creative sparks that come from a team operating as a single unit.  His best example is Microsoft.  Microsoft was a languages company.  They were in a position to build an operating system and did.

Matt Silverman is pretty much saying the same thing here:

“The truth is, most successful entrepreneurs launch their companies without a brilliant idea and proceed to discover one. Or if they do start with what they think is a great idea, they realize that it’s flawed and then rapidly adapt.”

My advice is to kill bad ideas off fast.  I’m not saying don’t give them a chance, but put them out there to the universe.  Many people have this attitude that their product has to be complete to succeed.  This is just not the case.  The feedback people give you is invaluable.  Good feedback can give you the confidence to move forward and it can help you kill a bad idea.

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