In 1986, I had an opportunity to purchase a marina on Lake Murray in Columbia, SC. The property and business was selling for a relatively low price of $100,000…but I was too fearful to take the financial risk. Today, that property is easily worth over $1M and generates a profitable income stream.
In 1988, a friend and I wrote some software that automatically generated test patterns for certain types of computer chips. Our friends encouraged us to leverage our work and launch our own company. But the risk seemed too high and someone else later commercialized our work and made a ton of money.
In 1996, a friend and I came up with the idea of brokering private homes for the Atlanta Olympics. We developed the idea completely, but hesitated when it came time to actually launch the company. Instead, in 2007, Brian Chesky launched AirBnB, a wildly successful home-sharing vacation site. It is now valued at $24B (Larger than Marriott Corp) and has over 40 million users.
Do you have a valuable idea? Not unless you act on it!
Thanks for listening.