“I have a million dollar idea!”

29th October

In my life, I have met a lot of people with a million-dollar idea. What I usually hear is: “Let’s make a 50/50 joint venture.” I usually answer: "Ideas are cheap." And I don’t underestimate their ideas. Really. But in reality, there are a lot of great business ideas in anyone’s head. So why do some great ideas evolve into successful businesses and others don’t?

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The answer is simple. It always boils down to the people that are executing that idea to become reality. People are the ones who will make it flourish or, in the majority of cases, fail miserably. When a fail happens, most teams look for excuses outside: “the market was not ready” or “competition was strong”… This goes against what we’ve learnt while building a billion dollar business.

If we look at why Outfit7 was successful, what we did was nothing revolutionary. We made entertainment apps in a market filled with existing apps that did the same as our Talking Tom: apps with talk back functionality, apps for taking care of your virtual friend… None of our products was really the first one of its kind on the market.

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Written by: Samo Login

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