The Idea List

I keep a list of idea that I think would be interesting to build a business around.  It's pretty simple.  I try to write them down when I think they're interesting, so I don't forget.  Sometimes, I email myself if I'm about to fall asleep, or write it down on a airplane when my mind is wandering, or frustrated, or trying to find something that I can't find.

The ideas themselves are just stubs that could be built into a business, not plans or details.  In face, I would argue that by themselves, they're worthless. There are lots of good ideas out there, which go nowhere.  For example, "website marketplace to allow people to list their apartments like hotels," does not mean you invented airBnB.  It's just an idea, floating around.  Even if you wrote it down, it's not clear that I'm the right person to do it, or that I would have/could have had the same outcome.

When I look back on them, most of them are easily shot down as horrible upon even a small amount of reflection:  too expensive to acquire customers, industry I know nothing about, too much of a marketing gimmick with little behind it.  

A few others ideas are shot down by a google search revealing that I'm several years behind and 1% in my thinking vs other people who entered the space a long time ago.  My 'innovation' is inevitably minimal.

Sometimes, the idea seems really exciting at the time, and then when looking back at it, it no longer does.  Maybe the prize isn't big enough, or you just couldn't imagine yourself getting up every day and trying to build it.

Then, there are a few that get a bit further.  I've spoken to people in industry or mocked up website -- even customers.  And, often you learn things that you don't expect, usually that there's a reason why this doesn't exist.  An industry structure you didn't fully understand or different motivations for decision makers.  

And then, well, there's the exciting ones.  The ones that make you leave your job, your safety and go for it.  It's good to know that there are a lot of those too.  And, even when the idea becomes a business and inevitably morphs and changes, that initial genesis and spark, is always a bit amazing.

NK

Day 1 at a big company vs. Day 1 as a founder at a small company

One of my former board members, Stephen Semprevivo, and I were discussing the differences between your first day on the job at a bigger company vs. a founder:

Founder - day 1:  
- You have responsibility for absolutely everything.  This ranges from product, sales, facilities, operations, recruiting, accounting, compliance, legal, finance, IT, marketing, etc...  
- You have (almost) unlimited decision making authority, both formal, informal
- You have unlimited flexibility on title, office location, etc.
- As you go forward,  you give up these responsibilities/authorities and move to focus on highest priorities. e.g., you outsource HR, someone else takes over IT, you bring on a marketing lead, etc.

Bigger company- day 1:
- You have effectively no responsibility. Even if you're hired for something with formal responsibility specifically, you're certainly still being evaluated before you're trusted to fully take it on
- You have no decision making authority.  Even if you have something formal, undoubtedly, there's still time before you're trusted
- You have no flexibility on title, office location.  It's already set
- As you go forward, you gain these responsibilities/authorities as you increase in importance and trust within the organization.  e.g., you now need to sign off on all hires, or approve certain budget items or approve any product changes of a certain sort

While there are obviously some generalizations here, and of course many more differences (I've tried to focus on responsibility/authority matrix) the principle is pretty sound.  I've seen people struggle both ways, going big->founder or founder->big.  I even now explicitly have  conversation with people who have never been at a very small company about how it's different and how some of what makes someone successful at big, doesn't translate to small.

Thanks again Stephen for the great view.