- Have you ever had an idea, an invention,
or something that strikes you?
(upbeat music)
And you thought, you know what,
what if I start a business selling that?
Or making that or creating that?
But you didn't take any action and six months later,
a year later, two years later, three years later,
you see the very same idea on TV, in a store,
you're walking by you see this on the shelf and you say,
"Dammit, that's my idea!
They stole the idea from me.
Damn, I wish I would have turned the idea
into something, into a business.
I would've made millions of dollars.
Have you ever had an idea like that?
Comment below.
If this has ever happened to you, let me say this.
You will stay poor if you keep thinking like this.
I'm gonna give you a formula.
I've got so many people come to me and they say to me,
"Dan, I've got this great idea for this business.
"Would you like to invest in my company, or in my business?"
I say, "Hell fucking no."
I say, "No."
And they thought the idea is everything.
And it's very funny because they're so protective
of their little idea.
"Oh yeah, but if I tell you the idea
"I need you to sign an NDA, a non-disclosure agreement.
"Because I don't want to tell you the idea yet."
It's fucking stupid.
You have to understand,
ideas are not worth a lot in business.
Execution is everything.
You see, to create any substantial amount of wealth,
you need what?
You need the right team, at the right time
to execute the right idea in the right industry.
The idea that you have without the right team,
without the right time, without the right industry,
is not gonna work.
I want you to think of ideas,
they're nothing more than a multiplier.
So I want you to look at your idea,
an awful, bad idea is a zero.
A weak idea, it is a one.
An average idea, let's give it a three, right?
And a good idea, let's give it a five.
A great idea, let's give it a seven.
And a brilliant idea, let's give it a 10.
So I want you to look at it that way.
So, those are the ideas, that's how much they are worth.
Now, let's look at execution.
Let's give it, no execution, $10.
$10, okay?
And you have weak execution,
let's give it a thousand dollars.
And then you have average execution,
let's give it ten thousand dollars, okay?
And then you have good execution,
let's give it a hundred thousand dollars.
And you have great execution, then, like,
you have a great team, let's give it a million dollars
and brilliant execution, let's give it ten million dollars.
You got this?
So, I want you to look at your execution.
Your skill, your team, how well you can implement,
and multiply that by your idea.
Let's say you come up with this brilliant idea,
the idea of a decade.
Well, let's give it a 10.
But you have no execution.
Well, no execution, $10 times a brilliant idea, 10,
is worth a hundred fucking dollars.
That's all that it's worth.
On the other hand, let's say you have a brilliant idea,
let's give it a 10.
And you have brilliant execution,
well, that is worth a hundred million dollars.
That's the only difference.
So, I want you to rate yourself
in terms of ideas and also in terms of your execution.
It's so funny.
People thinking about this, and especially poor people,
thinking about just the ideas.
It's a tiny, tiny bit of the equation.
I would rather have brilliant execution
and an average idea.
I can still make millions and millions
and millions of dollars.
It's not the idea.
Don't wait and sit around and say,
"Hey, I'm waiting for the perfect idea,
"I'm waiting for the perfect business model.
"I'm waiting for the perfect marketing product."
No, you don't need that.
What you need is to work on your execution,
put together a world class team
so you can execute at a very, very high level.
I will take that any day of the week,
versus waiting for the great idea.
You see, when I used to struggle financially,
I thought I need some great ideas.
I mean, I was losing money.
My ideas, my business didn't work.
And nowadays when I make millions and millions of dollars,
I can tell you my ideas, they're okay.
They're like, average ideas,
maybe good ideas from time to time.
You don't need a lot of good ideas to make a lot of money.
But what I do have is my execution.
My ability to get stuff done.
My ability to produce results.
My ability to close, my ability to market
and get out to the marketplace, that is the difference.
Does that make sense?
Comment below.
Until next time, I will see you in my family.