Stevens, G.A. and Burley, J., “3,000 Raw Ideas = 1 Commercial Success!”
How To Pick A Successful Idea
Don’t put everything behind your first idea! You wouldn’t go to the
racetrack and put your life savings on 1/3000 odds, would you? Even
though we are taught that all innovations come from a visionary who
predicted a need for the future, this is usually not the case. Naturally, most
inventions come from necessity and others from creative spark. When
executing a creative idea with the resources you have available, you will
have to make adjustments along the way that may not have been
accounted for originally. Johansson suggests that you take the smallest
executable step (smallest bet) so you don’t risk everything on your original
idea.
Once you define the smallest step, you know your scope of risk. This is very
important because you can then take baby steps to overcome challenges
and utilize resources more efficiently on your road to success (see image