Why Do We Worry So Much About Only 1% of a Business? (#1)

Most of our days are consumed with this activity. Daydreaming and zoning off while at work, they are on our minds and keeping us entertained. We lay awake at night some times creating them. I am talking about ideas. It is amazing some of the ideas that we come up with or that pop into our head when we least expect it. I love the sensation of creating a new idea and just thinking about how awesome it would be. In that is the issue though. Most of the time we let it die there and simply enjoy the process of creating an idea, but get lethargic about making that idea a reality or business. Creating the idea is only 1% of the process, the other 99% is the work and organization it takes to get it started.

Thomas Edison said it best in his quote “Genius is 1% inspiration, 99% perspiration.” This is an area that I have a hard time with, as do a lot of average citizens. We get distracted with the inspiration and then give up on the perspiration as our desire fizzles out. This can be for several reasons; scared of the risk, afraid of the work, or they are just not organized enough to actually make their dreams become reality. This last point is one that the book Making Ideas Happen: Overcoming the Obstacles from Vision to Reality.

Getting organized is no easy task. Many people lack the discipline it takes to start their own businesses, which is why, according to a study by Babson College there are only 25 million entrepreneurs in the United States when there are 328 million citizens. Though 25 million is a growing number it shows that a large majority of our population does not have the drive and organizational skills it takes to start their own business.

One third of our New Year’s goals are abandoned before January is over. Goal setting is essentially what you are doing when you start a business. Mark Murphy reported on a study that shows when someone writes down their ideas and goals they are 1.2 to 1.4 more likely to successful achieve their goals.

He also talked about the “generation effect”. We as humans have a higher capability to remember our own ideas overtop of others. This is why we reword other peoples ideas to make them our own as well. With the “generation effect”, it is important that we write down our ideas, because it gives us a double dose of it. Not only do we have our original idea that sticks, but as we write it down we get to think more about it. We actually narrow it down some and think it through which makes it more real and attainable.

Writing these things down makes the idea seem more attainable. That is just a start in work. It is the beginning to the 99% we have to partake in. Actually planning and thinking through the 1%. The hardest part of starting our business or even just achieving goals is getting started on the work. So next time you have an idea or something you want to accomplish, take some time to jot it down and think it through. Even create some steps to make it happen, then get to work.

References:

Categories Uncategorized

3 thoughts on “Why Do We Worry So Much About Only 1% of a Business? (#1)

  1. Hi Turner,

    What an inspiring post. I love writing things down and I have to do it often because if I don’t, I’ll forget. I may be a Millennial by definition but I am far from it in a lot of other aspects. I like to write things down and have a paper planner instead of my phone and I want to write my shopping lists down instead of electronically. My desk is covered in notebooks that are full of ideas that I HAVE to write down when they come up and it droves my husband bananas. I have a notebook that has all of my recipes for my products in them so they are all in one place, even if they were writing on a parking ticket.

    Writing down an idea is very important because you might have that idea right now but don’t have the means to make it happen right now. You can tuck it away in a safe place and bring it back out when you are ready to get started. I always suggest having a small notebook in your bag, car, office, anywhere so you can write down when inspiration strikes. Who knows, you might become the next Elon Musk.

    Great post and I love your website. Keep up the great work.

    Warm Regards,
    Dani

    Like

  2. Hi Turner,

    The 1% is a tough hurdle as are the other 99%. Writing down ideas is a great way to get your gears grinding and vet the idea even more. Although it’s great to have the idea written down I do believe that this 1% might be the most important of them all. This is because the 1% is the initial idea. It is what you will spend your days and nights thinking about and spending your money to build. With that being said, all ideas in this 1% stage are fragile. They need to be developed, and then put through a vetting process. I highly suggest reading The Strategy Mindset by Chuck Bamford. He outlines a vetting process in which all ideas need to filter through in order to see if your idea is ready for the other 99%. Not all ideas are treated equal and not all ideas deserve the work of the other 99%.

    I find the “generation effect” to be quite interesting. I could see how this process could help development of the idea but I have never heard it called this before. I can also see how this would make the idea seem more attainable. Writing actions out always seems to give the activity a feeling of simplicity as if it were as easy as writing it down itself.

    Very interesting read. I look forward to more of your blog posts.

    Best,
    Carter Jones

    Like

  3. ” I love the sensation of creating a new idea and just thinking about how awesome it would be. In that is the issue though. Most of the time we let it die there and simply enjoy the process of creating an idea, but get lethargic about making that idea a reality or business. Creating the idea is only 1% of the process, the other 99% is the work and organization it takes to get it started.”

    This happens all the time! Cannot agree with you more here. Creating ideas gives us this sense of what our lives could be like, it gives us wonder. Making that a reality is the hard part! Most of the time, I think its hard for most people to get as excited for the actual “work” part, than it is to get excited for the “idea” part.

    I believe it is said that Edison had 1000 attempts at creating a light bulb before it finally worked and when it was over he said he was happy because he found 1000 ways not to make a light bulb. He had a great outlook on life, he could look at a situation which most people would take in as a negative experience and was able to get something positive out of it. Dyson is another great example of this.

    Cannot wait to hear more of your reflections on this book!

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this:
search previous next tag category expand menu location phone mail time cart zoom edit close