Today’s crazy idea is tomorrow’s breakthrough

In today’s economy, more and more companies are becoming risk-averse, looking solely at the near-term bottom line. But Peter Diamandis, chairman and CEO of the X-Prize Foundation, notes in this 2008 Entrepreneur Thought Leader Lecture at Stanford University that true breakthroughs take an adventurous spirit – and if you and your company want to truly be great, you need to be audacious. The key to success is to know when you’re at the peak of your creativity and capitalize on it.

http://ecorner.stanford.edu/swf/player-ec.swf

Next Story:
Previous Story:

Tags:

People:

Photo of Chris Morris

About the Author,

Chris Morris is editor of the Entrepreneur Corner on VentureBeat, helping start-up business owners launch and grow their companies. He previously worked at Yahoo! Finance, where he was managing editor, and as director of content development at CNNMoney.com. He is also a widely respected journalist in the video game and technology fields, whose work has appeared in Variety, CNBC.com, AOL and Forbes.com. Follow him on Twitter at @MorrisatLarge

  • http://profiles.yahoo.com/u/2QGYYCT4EIXA2DBSU5RRRSCIEE Jason Ayoub

    He is absolutely right! Going into space, the cellphone, the Internet, the flying car, etc. were all crazy ideas at one point in time. As the saying goes: high risks equal high rewards! And I highly agree that “the key to success is to know when you’re at the peak of your creativity and capitalize on it”. The only thing I find hard is the capitalization part and will use my example to explain what I mean: I am a young aspiring entrepreneur that has a really innovative idea but is limited in resources due to the complexity of the project. In fact, the project itself is very challenging and if I had the proper programming background to create it myself I would but unfortunately I do not. I tried several times to get in touch with major players in the industry stressing the fact that the idea is innovative, unique, and revolutionary and the returns on investment are endless, but I haven't had any luck to even get through to speak to someone. I also tried to put a team together and as much as they agree that this is tomorrow’s breakthrough, all shy away from the work to be done since I cannot pay them nor will they work for shares since all are cash-strapped. In short, the big guys don't want to hear me out and the small dudes need money that I do not have. Any advice on the “capitalize on it” part? (Other than persistence because I have been the most persistent person in the world!)

  • http://www.businessmoneytoday.com/ Phanio

    To Jason – Don't give up. Maybe you are just looking in the wrong places for the wrong people. There are many big players that will help your company in a way that you want the little players to do. There are many ways to offer shares in your company to the big guys (not just the little guys) – just keep at it.Also, there is a trade off between money and time. If you don't have the money to throw at a problem – then you have to spend the time to handle it. I did not have a lot of money when I started my company so I taught myself how to program html and php. It was eaiser than I thought and now not only can I do some of my own programming, I also have made contacts with others who want to help my (both big guys and little guys).Stick with it and try to get creative. What you are offering the little guys for help – offer that to the big guys and see what happens.

  • http://profiles.yahoo.com/u/2QGYYCT4EIXA2DBSU5RRRSCIEE Jason Ayoub

    Thank you Phanio! I have been speaking to some of the big guys over the last 3 days and talks are progressing. We will see what comes out of it. I appreciate your input alot!

  • MarioMarques

    Indeed the greatest difficulty is funding.In my case, I own an e-commerce, global, worldwide unique and innovative.Geted funding A for the project of 45000.00, but it is very little.Now the business is in the air, and we need approximately EUR 1,000,000.00 to launching in the USA. Since I am not American, the difficulties are even greater.I have all the technology and the site ready, I need the final push.How do I enter the U.S. market? Who can I get help?Thank you.Mario Marques

  • http://twitter.com/ServerGrabber Karthi Keyan

    Yeah., I think teleportation is today's crazy idea.

blog comments powered by Disqus