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The importance of a good idea

The idea that you have for a business is the foundation of everything you want the business to be. It’s your creation, your inspiration, your way of making an economic impact. It’s your way of making a difference, solving a problem, of seeing things with new eyes. Without a good idea, you really don’t have a business startup. A great team with plenty of funding will be hard pushed to make a success of a bad idea or an idea whose timing is not right. The idea stage is the birth of a business, it’s your baby and you won’t know how it turns out until it has been tested in a market environment. To grow the idea you will need time, dedication, skills and investment. This category is about the birth of an idea.

Ideas come in many different forms, ranging from world changing blockbusters to niche adaptations of existing ideas. It’s very difficult to predict the impact of an idea long term, given the complexity of the markets and our ecosystem. Often, it’s the simple ones, the easy ones to explain, that turn out to be the most successful. The most valued company in the stock market today started out with a simple idea that was easy to explain: “Selling books online”. In time, this idea grew into a company that didn’t just sell books online but went onto become the Amazon.com we know today, which has disrupted so many industries using its simple concept.

Many of the ideas young people are coming up with today revolve around technology. This is such a fast-moving field, with exponential innovation, that sometimes it is hard to keep up with all the ideas flowing. We are creating so many new tools that open up new possibilities and in some areas, we are limited only by our imagination. These new tools are allowing us to create many new possibilities in low tech areas and to innovate in and improve many aspects of our lives.

The sponsors of this category are all in the business of protecting ideas and the intellectual property generated. Good ideas are likely to be stolen or copied if they are not protected. NACUE members can sign up to www.stucollab.net and get access to the IP portal if they have questions related to protecting their intellectual property and maximising its commercial value.

We want this category to be about the initial stage of a business, its birth. We are looking for crazy ideas that can really disrupt a business or market. This is the fun part before the hard work of building a business begins, so lets have some really imaginative ideas submitted in confidence through the NACUE portal.

Written by Simon Krystman, Founder of IdeasPatch

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