And with great execution even the most crazy idea can become a success - there are tons of examples.
Ideas have nothing to do with failures, marriage breakups etc. That's bad planning, no backup plan, etc.
And with great execution even the most crazy idea can become a success - there are tons of examples.
Ideas have nothing to do with failures, marriage breakups etc. That's bad planning, no backup plan, etc.
And if you think that businesses failing are some abstract concept completely removed from any personal impact then it shows why these success stories are a problem.
It's less prevalent and more unwelcome to hear about the marriages breaking up, the homes having to be sold, and the mental issues brought about through the businesses failing. It happens though. And the survivor bias that's reinforced through success stories is a contributing factor.
People used to come to me to validate their horrible business ideas. "Oh, you're a tech guy and you have a business degree! What do you think of my Online Store For Cats idea?" Usually they didn't like what I had to say, and eventually people stopped coming to me for advice. Now I know why these things don't get filtered early. Entrepreneurs tend to be positive and optimistic, and then only surround themselves with other positive, optimistic people. So, now subscription-based juice squeezers make it all the way to production and then people scratch their heads and wonder when they fail.
I wonder how to navigate this. Quite frankly, I would not be interested in startups at all if I listened to the negative people in my life (who say to get a stable job, don't take risks). But I also don't really want to fool myself into believing a fundamentally flawed idea would be viable.
Crazy ideas are crazy because even great execution wouldn't be able to save it. ideas and execution need to be complimentary. Saying ideas don't matter is just as wrong as saying executions don't matter.
There are multiple orders of magnitude more examples of crazy ideas simply failing (multipl times, as there's only so many crazy ideas but an infinite amount of people thinking they are the first to come across it) than there are of crazy ideas succeeding.