Idea vs. Execution
This post is not about Computer Science. The value of an idea vs. the value of the execution of that idea is a topic that comes up everyday in social media. Let's talk about it this week.
Hello, Hypers!
What happens if someone steals my billion-dollar idea? This is a question that has been raised in the head of many entrepreneurs. When you are starting a project, you want to know if people are willing to pay for it. You want to know what people think is good and bad about your project so you can improve it. In just one word: you need feedback.
To receive feedback, you have to show your idea. But then, other people can steal it! What can we do to avoid that? How to get feedback without that fear? The answer for entrepreneurs is: keep calm and throw your idea to the face of as many people as you can.
Note that I highlighted “for entrepreneurs”. The value of an idea varies a lot from one context to the other. In this post, I’ll talk about that value in the entrepreneurial and scientific contexts.
An idea in the entrepreneurial context
As we started this post in entrepreneurial mode, let’s analyze this context first. For example, let’s suppose you come up with the idea of creating an app like Substack (in a universe where Substack hasn’t been invented yet). What is the value of this idea? you may ask. The answer would be something like:
The app allows writers to be in touch with their readers and receive support for their work. As this app is the provider of this opportunity, I can charge a small fee for each payment and generate some revenue. This way, authors and readers are benefitted and I get enough money to pay my bills
The previous answer is wrong! This is not the value of the idea. This is the value of the materialization of that idea. Very subtle, but I came up with the following analogy to better understand the difference:
A lighter or a match don’t keep you warm, a campfire does
My point is that, in the entrepreneurial context, ideas are lighters on a cold night. You can give as many lighters to others as you want, the real value is in lighting the campfire.
The value of execution is orders of magnitude bigger than the value of an idea (like comparing a campfire with a lighter). So, what makes the difference is who can execute the idea faster and better.
Still, you may think that if you don’t have the idea then you can’t begin its execution. The idea is still a huge advantage. Well… not precisely. The thing is that the real world is full of uncertainties. The rules of the game change all the time. The final state of the product rarely seems like the initial idea. Marketing, technical issues, business plan, and a lot more factors are influencing the outcome of your efforts all the time.
In such an uncertain scenario, it doesn’t matter what’s your current state. The real value is in knowing how to react to changes. It’s like playing a chess game where the position of the pieces randomly changes from time to time. It doesn't matter how good is your position right now, you need to know how to play so you can overcome some unforeseen situations.
It doesn’t matter how good your idea is, it doesn’t even matter if you are the only one that knows about it. What you need is to execute it and be prepared to face all kinds of adversities.
On the other hand, the scientific context is not such a mess. As you can expect, ideas have much more value there.
An idea in the scientific context
My POV is that the amount of uncertainty is inversely proportional to the value of an idea. Science revolves around a methodology. A well-defined path to follow to push human knowledge boundaries. From the very beginning, we have a clear map. You can encounter many obstacles, but you know what will be the next step after overcoming the obstacle.
This is an oversimplification, of course. Many uncertainties appear when conducting scientific research. Decision-making is a very important skill for a scientist, and there is some bureaucracy in the process. But compared with the entrepreneurial world and the crazy chess game we used as an analogy, scientific work seems just like regular chess with the possibility that the opponent makes an unexpected opening.
The process from ideation to concretion is way shorter. It can be “limited” to an explanation or argumentation of the idea. Scientists don’t need to worry about building something people like. They deal with science, and science is (waaaaaaay) easier to understand than humans. In this context, ideas are much more valuable and they need to be protected, at least until the first results arrive.
Of course, I’m not saying entrepreneurship is harder than science. I love doing science and I know how hard it is. I used these two contexts to show you how this “ideas are nothing, executing is everything“ thing is not always true. Everybody saying so is saying it in an entrepreneurial context.
I hope you have enjoyed this week’s post. Let me know what you think about it and share it with your network. I hope to see you next Tuesday for another Under the Hype little post.
See you!