Two years ago Warren Buffett gave nearly $31B of his fortune to Bill Gates (see article). What was he thinking? Why would the richest man in the world, who already has the largest philanthropic foundation in the U.S., “need” more money from the second richest man in the world? I’m not here to debate whether or not this was the “right” thing to do. The fact is money flows to people with powerful ideas.
Powerful ideas are those that can be effectively implemented and produce measurable results. Many people can dream wonderfully creative ideas, but those ideas aren’t effective, because either they aren’t practical and/or there is no way to measure the resulting impact.
One of the key things that makes an idea powerful is the detailed plan that supports it. The difference between dreamers and visionaries is that dreamers think of great ideas, but visionaries follow through and develop a plan to implement their ideas. That’s why there are many dreamers and few visionaries.
People with money will invest it in those who have great ideas and sound plans. Sometimes this happens even before the plan has proven successful, because the investor has bought into the person behind the plan, whose character has been demonstrated through their discipline and diligence in developing their idea. That’s what the venture capital industry is built on – people and companies who invest in other people’s well-thought-out, well-defined ideas, affectionately referred to as a business plan.
Most people’s dreams never become a reality because there was no comprehensive plan to implement or execute it. If you want money to flow to your ideas, whether from customers or investors, there are a few simple steps that you need to follow:
- Spend some uninterrupted time visualizing what you are trying to accomplish. You can’t accomplish what you can’t see.
- Write down your idea. You have a much better chance of accomplishing the goals that you write on paper than the ones you just keep in your head.
- Develop an implementation/execution plan with milestones and deadlines. You demonstrate your character and commitment to your idea by taking the time to work on the plan.
- Gather trusted advisors who will give you an honest critique of your idea and plan. Find those who will help to refine your plan, not people who will automatically reject or accept what you have.
- Begin the journey, but don’t try to do everything at once. The journey of a thousand miles begins with a few small steps. Achieve a few small victories so that you can gain some momentum.
Don’t allow fear, complacency, lack of resources, or anything else to stop you from accomplishing your vision. If your idea is powerful and your plan is thorough, then the right people will come along at the right time and provide the right resources that you need to make it happen.
You can use this process whether you are in business or not. Remember, ideas get people excited, but plans mobilize people and resources to get things done. Just ask Bill Gates.
Paul Wilson, Jr.
B.I.G. Dreams are coming to a mind near you very soon! www.DreamBIGin3D.com