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Seeking Wisdom with David Cancel

#53: Stop Waiting For That Amazing Business Idea

Seeking Wisdom with David Cancel

Molly Sloan

Business, Entrepreneurship

5610 Ratings

🗓️ 27 January 2017

⏱️ 14 minutes

🧾️ Download transcript

Summary

If you liked this episode, we bet that you’ll love our blog content. blog.drift.com/#subscribe Subscribe to never miss a post & join the 20,000+ other pros committed to getting better every day. --- People love to glamorize the idea of starting a business -- and how the ideas for successful companies seemingly just "hit" founders in the shower, talking down the street, etc. But you can't afford to wait around for that amazing business idea. So then how do you come up with that next breakthrough idea? That's what we're talking about on this episode of Seeking Wisdom. Ways to support Seeking Wisdom if you’re a fan of the show: 1. Subscribe. 2. Leave us a five-star review. Here's how: bit.ly/5-Stars-Only. 3. Follow David (twitter.com/dcancel) and Dave (twitter.com/davegerhardt) on Twitter. 4. Learn more about Drift at Drift.com.

Transcript

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0:00.0

All right.

0:00.4

We're back?

0:00.8

I'm recording.

0:01.6

Finally?

0:02.0

Yeah, we're back.

0:03.0

Dave's been slipping. Come on now. We're back. Let's do it. This is a real thing. So we're back on Seeking Wisdom, and this is actually the first time that we have a video. You can see me right now. You won't see this until later, but we're going to start doing videos with this podcast because it's a new channel. people want to see behind the scenes.

0:01.8

And, uh,

0:01.9

yeah.

0:02.3

And our girl, Amy, hooked us up. She's in the mix. She's in the house. You can't see her. Yeah. But do me a favor, just like you would subscribe to YouTube channel because we keep coming out with new channels for content and YouTube's where it's at right now. That's it. All right. So here's what we're going to talk about. You sent me a voice note yesterday. Always a good side. And actually, maybe just tell the story. So we're going to call this one like, it's the biggest lie that we tell ourselves about running, about starting a business. The biggest lie. So where did this come from? You were at MIT yesterday.

0:54.5

Yeah, see this swanky vest that got on? I do. I didn't, you know, I didn't notice that. People can see it now in the video. Show them that video. So you walked in, they gave you a vest. Yeah, it says the Martin Trust Center for Entrepreneurship at MIT. Did you go there? Hell no. But I spoke to a group of about 150 executives from

1:14.5

around the world who came, I think they're there for about a week. We were talking about

1:18.8

lots of things. They did a fireside chat with Bill Ullett, who runs the center there, and

1:24.7

as a professor there, and former entrepreneur. and we talked about a lot of things but

1:28.7

one of the questions that someone had towards the end was basically came down to this this myth

1:35.1

that we've talked about in the past but have never really drilled into which is this myth about

1:39.8

like how do you get an idea right like how do I know my idea good? Is that the most common question you get when you talk to people about, like, starting companies? Definitely, because most of them haven't yet started a company. Right. And so they're waiting. And if you ask them what they're waiting for, it's like, I don't have an idea yet. Right. And I said, but you don't need an idea to start a business. And I think this is the myth, right? And I think it's an age-old myth. It's the myth of the, I had an idea in the shower, and that idea became a giant success. And like I said before, like that story has never been true ever. Never in history has

2:18.7

that happened. But we tell ourselves that because that's a nice story that we like to tell

2:24.3

ourselves. And if we look at that story, it's actually a story that existed throughout history

2:29.7

in lots of different forms, everything from Newton sitting under an apple tree and an apple

2:34.0

hitting them in the head to, you know, stories of Zeus coming down and, you know,

2:39.0

giving divine powers to some lucky individual, right? Like, this is all the same story. And it

2:44.4

basically is, you know, you're waiting around and somehow you become chosen. And once you're

...

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