Creating Assets From Ideas
Do you look at the business news, see companies being acquired for massive valuations in the billions, and feel disheartened?
There’s no hope you’ll ever be able to grow a business to that size, right?
Wrong. Don’t forget that every business, no matter how large, started off as a little idea inside the founder’s head. Everyone has ideas, including you. You’ve probably had some brilliant business ideas.
It’s all about execution and whether or not you turn the idea into a reality. In this video, I explain.
ALL BUSINESSES START WITH AN IDEA
Facebook bought WhatsApp for $19 billion in 2014. Google had unsuccessfully tried to buy it for $1 billion, but the $19 billion sale made it the biggest acquisition of a technology company ever.
What Facebook paid $19 billion for started off as an idea in the head of Jan Koum, the founder of WhatsApp.
Another example is Sara Blakely, who started with an idea and turned it into Spanx. Her company turned over $250 million a year and was valued at $1 billion.
All businesses, however large they become, start off as an idea inside the founder’s head. Why can’t you do the same thing as Jan Koum and Sara Blakely?
You too can create the next big company that you either hold onto or sell for a massive lump sum. You just need to start with an idea.
DEFER YOUR GRATIFICATION
Of course, when an idea is just an idea, you don’t get paid for it. But if you can defer your gratification in the short term, and work on turning your idea into a real asset, it will pay you a lot more than if you continue to trade time for money.
Do you think that Jan Koum and Sara Blakely would have made the kind of money they do if they’d continued to trade their time in a job? No, but they didn’t make that money from day 1 either.
If you’re willing to live below your means for the next 5 years, as you turn your idea into a real asset, you have the chance to live very comfortably for the rest of your life.
Instead of your lack of money constantly floating around in your mind, you’ll enjoy an existence where you don’t have to worry even slightly about money. But it all starts with an idea and working to turn it into a reality.
Alternatively, you can continue trading time for money and living semi-comfortably for the rest of your life. Which would you rather?