Start Up Blog

Trophy Ideas

Trophy Ideas shouldn’t be your first attempt at a start up.

Definition: Highly original and ‘expensive’ business concept which could change the behaviour of consumers, business or the world and make you rich in the process.

Trophy ideas are typically capital intensive and have long lead times to get up. They usually involve external capital. They’re often the domain of inventors. The reason that trophy ideas are onerous is that they don’t succeed very often and they take up the two most valuable tools we have, time and money, and lots of it. Sometimes people dedicate large portions of their life to trophy ideas. But we only ever here about the successful ones. An example might be the Dyson vacuum.

Here’s some startup blog advice if you want to go for a trophy idea. Do it after you’ve had some smaller successes first. Do it when you already have passive cash flow from another startup, business or investments. We should all pursue things that are worth doing, the trick is knowing the right time to chase them.

6 Responses

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  1. Dr Wright said, on September 25, 2008 at 9:24 pm

    I new business owners have no clue that their idea is a TROPHY IDEA. They think its just something really cool that will make them lots of money if they can ever figure how to get it off the ground.

    There should be some sort of Trophy Idea test.

    Dr. Wright
    The Wright Place TV Show

  2. Uncle Saul said, on September 27, 2008 at 12:10 pm

    I love it. I call deals VC are interested in “Babe Ruth” deals, as they often involve swinging for the fences (and striking out in the process).

    Thanks for a great post.

    Uncle Saul

  3. Selling Potatoes « Start Up Blog said, on August 24, 2009 at 4:09 pm

    […] the natural temptation is on inventing new markets. Creating dramatic change and going for the trophy ideas. This stuff is incredibly difficult, which is why when we do it well the financial rewards can be […]

  4. Startup Idea Generation « Start Up Blog said, on January 18, 2010 at 10:41 am

    […] of trophy Ideas – This link Tagged with: business, business ideas, crowd sourcing, entrepreneurs, entrepreneurship, idea […]

  5. Startup typologies « Start Up Blog said, on August 23, 2010 at 9:58 pm

    […] Trophy idea […]

  6. Good ideas v bad ideas « Start Up Blog said, on November 24, 2011 at 8:29 am

    […] of success is that ideas that have lower probability are usually the ones with the biggest reward. The trophy ideas. But rather than pigeon holing ideas as good or bad – we consider them in terms of […]

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