Ideas for Wealth
Estimated Lesson Time: 4 minutes
When was the last time you said something such as, “I wish they would invent something to...” or “Somebody really should...” or “Why don’t they make something that...”? If you are like most people, you probably say these words on a regular basis. Who are “they”? Who is “somebody”? Why can’t the “they” and “somebody” be you?
One of the most common reasons people do not act on ideas is that they think somebody must have already thought of it. The chances are, somebody, even many others, have thought about it, but nobody has acted on it. Every fortune, large or small, started with an idea. Some of these ideas at one time were thought to be far fetched, silly, stupid, crazy, and even impossible. It was the inventor who had enough belief and determination to see the idea through into its physical equivalent.
Here are some more reasons people generally don’t act on ideas.
- They don’t think they are inventors. Just because you are not a plumber, doesn’t mean you can’t unclog your own toilet with a plunger. It does not take an electrician to change a light bulb, nor does it take an inventor to come up with and act on a good idea.
- They don’t believe in their ideas enough. Many people make the mistake of asking other people what they think of an idea and choosing to act or not based on others’ opinions. I believe it was Edison who was known for asking for others’ opinions on his ideas, and if they all unanimously thought it was a BAD idea, he would act on it. Ask yourself, what is your “gut” feeling on this idea?
- They don’t know how to follow through. Many people simply don’t know what to do next after having an idea. The key is to educate yourself and align yourself with the right people who can help you see your idea through. With the advent of the Internet, this is easier than ever before in history.
- They fear criticism and ridicule. What do you think Gary Dahl’s family and friends thought of him when he enthusiastically explained to them that he was going to market a “pet rock” for $3.95? I can just imagine how his parents felt when trying to explain what their son was up to these days, “Oh, our Gary is working on selling rocks as pets.” And of course, there is the more common example of Columbus’ idea of the world being spherical. This was the classic case of public criticism and ridicule. Those who ridicule new ideas are closed-minded, and criticism from them should not be accepted.
Here is my five-step idea process that I like to follow. Feel free to adopt mine or create your own. The goal of this process is to make sure we act on our ideas worthy of action.
- Record it. The moment an idea pops into your head, write it down or record it.
- Add it to your list. Have a page in your success journal or a list somewhere where you transfer, write down and collect all of your ideas and review this list often. Your idea may not be strong enough to act on now, but it may be later.
- Carefully think through the idea and the possibilities. Do not let “reasoning” talk you out of taking action on an idea. Most ideas probably are not worth pursuing, but do not get in the habit of letting all ideas go.
- Always be acting on at least one idea. Pick your best idea at the time and act on it. Do the research. Make acting on the idea one of your goals and follow the proper goal setting steps.
- Know when to move on. There is a fine line between giving up and moving on. Never give up on good ideas but know when to move on to better ideas.
It only takes one good idea to lead you to wealth. If you have 100 ideas a year and act on 10 of them and one results in wealth, you will have made it. It is not lack of knowledge or talent that keeps most people from wealth; it is the lack of persistence. You are just as capable of bringing a great idea to this world as Edison, Ford, and Gates. Act on your ideas, and wealth will eventually find its way to you.
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Some discussion questions (some may not apply to this lesson):
- Have you implemented this idea in your life? How has it been working for you?
- Do you have any interesting stories related to this lesson? Do tell!
- What do you admire most about this person? (success biography days)