Archives For brief

Idea Generation

It’s easier to filter the million ideas in your head when you have an idea system. Most ideas that we work on are actually fragile, where we get discouraged when we start working on it. John Carmack believes in an antifragile idea system which is outlined below.

  1. You are working on a problem and you get an idea and with it the initial idea high
  2. You should instantly try to defeat your idea – think of all the ways it could not work, test it out, put it under stress
  3. If the idea survive the brutal scrutiny then it has legs for further investigations or implementation
  4. If the idea is implemented and it works then that’s great
  5. If the idea fails the scrutiny or implementation you can quickly move on to the next idea without feeling the lows because you haven’t obsessed or talked about it i.e. it’s not your pet idea.

From Amjad Masad

I have idea debt. I have lists and lists of ideas that never get anywhere, because I never work on them.
I get paralyzed thinking how I want to build an app or researching for weeks on how to collect data for an app. Then I fall in love with a new idea. How I’ll make it to this great app and roll in money, until the next idea comes along.

For the past month, I just do it. I just pick a framework and start building. Just one idea, 30 minutes a day. It’s been working very well. If a new idea pops up, I just put it in a Todoist list and forget about it.

Idea Debt is when you spend too much time picturing what a project is going to be like, too much time thinking about how awesome it will be to have this thing done and in the world, too much time imagining how cool you will look, how in demand you’ll be, how much money you’ll make. And way too little time actually making the thing.

Idea Debt

Of course you should go to University and study whatever you want. Of course you should find your passion, however long it takes. You can be whatever you want. You can do whatever you want. Post secondary education is an investment in your future.

But maybe spending $100,000 and eight-years of your life on that double-major in history and fine arts, only to spend the next few years working as a Starbucks barista, wasn’t the wisest use of your time and money.

Of Course, But Maybe…

DIY can be seen as a side-hustle to make more money. Now there’s zero excuse for folks who are unwilling to moonlight, start a side business, or create a product to generate passive income. You can simply increase the amount of DIY projects, like cleaning, to earn more money by saving money.

If you love money, you will probably be better at accumulating more money. You’ll do a lot more research on how wealthy people got rich, what to invest in the stock market, how to get a raise, and all sorts of money attracting stuff.

It’s OK to Love Money

If you’ve ever had a big idea and thought, “There’s no way I can make time for it,” there are a lot of real-life stories that say, “Yes, you can.”

Craigslist, Spankx, GitHub, Basecamp were all side projects. Wake up earlier or sleep later. You have to prioritize what’s important.

The Craigslist Method

Nearly all startups follow the same set of steps you see in the infographic below, created by Funders and Founders. The infographic shows the steps you usually have to take when making billions from a startup.
Formula-Startups-Use-To-Make-Billions