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Just how many ideas do you need?

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To make a business a success just how many ideas do you need? And how many will work and make you squillions (not sure that’s a real number)? I was just reading Seth Godin’s blog post Fear of Bad Ideas and as ever he hits the nail on the head.

There is no secret formula, no magic number. All you have is success and failure.

As every school boy/girl should know, the Pareto Principle of 80/20 comes into play. So 80% (or thereabouts) of your ideas will fail, or at least not work as well as you’d like. 20% will give you a massive boost.

Most people, businesses, organisations and especially governments are afraid to have failures – no one likes them, they leave a bad taste in the mouth. But without these, and more importantly without the lessons learnt from them, the 20% of great ideas might never happen.

So what’s your plan for 2010? It should be to fail quickly, learn, move on and get closer to your next success.

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