Or, do you need an idea to start the money?
It’s official. We are now living and working in the new “Innovation Economy.” Innovation economists believe that the new drivers of economic growth are knowledge, technology and ideas rather than capital accumulation or previous experience.
These are exciting times for innovative young companies. In the new knowledge-based economy, a bright young company with great ideas but no money may actually have a distinct advantage over a big established competitor with lots of money but no fresh ideas.
Ken Hakuta, a former American Inventor of the Year, inspired hundreds of young people to bring their ideas and inventions to market. He used to say that ideas are a real power—like electricity—while money is merely a conductor. “Lack of money is not an obstacle,” he told young entrepreneurs. “Lack of an idea is an obstacle.”
It’s true. Despite what most of us have been taught, money seldom starts an idea; it is the idea that starts the money. In all my years of working with new ideas and possibilities, I have never once seen it fail: If you or your company has a great idea, you can always, always, always find the money to bring your idea to reality. It may take patience, repeated attempts, a good deal of struggle and lots of faith, but you can and will find the money you need. Great ideas lead; money follows. Count on it!
(An excerpt from Dan Zadra’s upcoming new book, Trust Your Crazy Ideas, coming to bookstores soon. Trust your Crazy Ideas