Evan Carmichael tells Kush that companies don't buy standalone ideas. They want execution. Build a service or implementation plan around your idea, or large corporations will steal it or ignore you.
You have to have more than an idea. If you want to be successful in business, you need more than just an idea. Hi, I'm Evan Carmichael. I believe that hungry entrepreneurs deserve help, and today I'm answering a question from a YouTube viewer, Kush, who wrote in saying, "Hi Evan, I would like to sell my idea to companies. I'm not going to offer the service, I just want to sell the idea." This is a hard one. Companies don't buy ideas, and I hate to pour rain on your idea here, but if you want to have a success, if you want to build this into something, it's not just going up to companies and saying, "Hey, here's something this company should do, and then they're gonna pay me for it." I have lots of ideas for companies and what they can do. I'm sure you do too. I'm sure everybody does. What if Disney did this? What if Pepsi did this? What if whatever company, right? We all have ideas. What if Starbucks did this? They're not going to pay you for it. You could have the greatest idea in the world. I have 100 ideas that Starbucks could use, but they don't pay me for it, so I'm not going to waste my time on it. You need to have more than an idea. You have to have execution somewhere. If all you're doing is going in with an idea, A, they may have already thought about it, and they probably have. If they're of any size, they probably already thought something about it. But even if they haven't thought about it, it's not useful to them because they need the execution. Somebody has to do it. The value is in the execution, and if they're doing everything, it's not worth it for them. There's so much politics that happens at a big company that it's already hard enough to sell their own ideas and line up the resources and the budgets to make it happen. For somebody outside to come in and say, hey, here's a great idea for you, it's going to take up tons of resources, time, energy, and I want you to pay me for it— not going to happen. Your best chance is you need to have something else that you're bringing that's valuable. You need to help with the execution, you need to provide a service. Otherwise they're not gonna buy from you. You're gonna be wasting your time. And I hate to give you this bad news, but I just don't want to see you wasting your time calling up on these companies and either getting laughed out the door or them actually using your idea and not compensating you for it, which can happen too. So back to the drawing board. Figure out what you can do to offer more value than just trying to give them the idea. For those of you watching, you need to have more than an idea for your business. You gotta do the work. An idea is not enough. Everybody can be an idea person, and a lot of entrepreneurs are. They're the idea people. The guys who are just the idea people rarely make it. You need to have the execution. You need to put the ideas into place, and the bigger the company you're trying to pitch, the harder it is. You need more than just the idea. For those of you watching, you like the video, please give it a thumbs up below. And I want to hear from you. What do you think? Please leave a comment below about this video, or if you have a question for your own company, I want to hear from you. I love seeing those come in, so thank you guys, and I'll see you soon.
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