Greg Isenberg - Why ideas matter more than ever

Why ideas matter more than ever

This might upset some people, but hear me out.

People who say “ideas are worthless” don’t understand 2024 and the world we live in.

In a world where AI makes turning ideas into software businesses borderline effortless, execution isn’t the bottleneck anymore. It’s the idea itself.

Everyone has access to tools and platforms that streamline the building of products process.

In 2024, execution is worthless. Ideas are everything.

Here's how I define "ideas"

1. Distribution ideas. The right distribution channel can turn an obscure product into a money printer overnight. There are infinite channels on the internet which allows for many products to win a market and not just one. Remember, the best product doesn't always win, the best distribution often does. Is Logan's Paul/KSI's Prime drink a better product than some brand you've never heard of? Probably not. They just cracked the distribution ideas.
2. Niche ideas. I mine social platforms like YouTube, TikTok, Reddit and use tools like GummySearch to uncover hyper-specific niches that were invisible before. These niche aren’t just smaller segments of the market; they are untapped reservoirs of demand. By identifying and catering to these niches, you can dominate a market that others don’t even see (especially the venture-backed statups or large platforms that can't be bothers for "small markets"). Finding the right niche idea becomes critical. Find a $10M+/year business, pick off a smaller niche and get to building.
3. Startup ideas. AI doesn’t just automate tasks, it redefines what’s possible. Imagine startups that can offer services so personalized, they feel bespoke. This level of customization was unthinkable a few years ago. Now, it’s the new baseline. I talked about an AI app generating $190k/month with shared infrastructure that used this strategy on my pod (YouTube/Spotify/Apple).
4. Creative ideas. Creativity isn’t just about aesthetics; it’s about connection. A well-crafted story, a unique perspective, or a striking visual can turn a passive observer into an active participant. The right creative idea doesn’t just attract attention; it compels action. It turns engagement into evangelism. I use DesignScientist.com to create beautiful creative and turn my ideas to reality.

Good ideas often seem obvious in hindsight, but they are the culmination of years of compounded thoughts and experiences. Some ideas burst forth like a sudden lightbulb moment, while others grow slowly, requiring the right conditions to blossom. We sometimes stumble upon them, and other times we pursue them with deliberate intent.

I'm more interested in how you get into the creative zone to come up with ideas that outperform. No fun in waiting for lightbulbs moments. They might never happen.

A few tips for you:

1. Find a fast growing startup and use their distribution strategy in an unknown space. Look at something like Athletic Greens. They are everywhere. They scaled by using tech/health influencers to talk about them on podcasters. Ask yourself: what other products are ripe for this?
2. Have a list of data tools that you can use to find niche ideas like EtsyHunt, GummySearch, PublisherRocket etc.
3. For creative ideas, I use Pinterest and bookmarks on X with a folder called inspo. Curate your feed with visual inspo that'll give you an unfair advantage.
4. Keep a note file on your phone called ideas. Have sections for distribution ideas, niche ideas, startup ideas, creative days. This is your "swipe file" for ideas. Whenever you see something cool, write it down.

In 2024, execution is cheap. Ideas are everything. The future belongs to those who can dream big, think creatively, and leverage AI/software/automation to turn those dreams into reality.

Enjoy the golden era of ideas.

Next up, bookmarks I saved this week worth reading

#1

safwaan @safwaankay Wisdom from @FurqanR that's typically reserved for our internal Slack 7:23 PM • May 29, 2024 5 Retweets 137 Likes Read 9 replies

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This is good advice for anyone building a business. Bookmarked instantly.

#2

Justin Welsh @thejustinwelsh I'm bullish on in-person communities backed by a virtual community component. I'd pay a lot to meet with smart entrepreneurs in person on a regular basis. I wouldn't for virtual only. 9:36 AM • May 29, 2024 13 Retweets 440 Likes Read 118 replies

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There is a ton of "alpha" in this tweet. You can come up with probably 100+ startup ideas based on this.

#3

anu @anuatluru the rise of Accountability as a Service 8:26 AM • May 28, 2024 15 Retweets 327 Likes Read 11 replies

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There's a ton of startup ideas based on this macro trend of "accountability of a service". Basically, people who want coaches to learn faster and be more productive.

#4

Ryan Hoover @rrhoover Who's building a fund to buyout VCs in companies that have a good but not venture scale business? 11:35 AM • May 28, 2024 19 Retweets 497 Likes Read 114 replies

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I'm becoming more and more obsessed with this trend. Buying VC-backed businesses and turning them into cash-flow machines. I'm currently, doing this with our Late Checkout balance sheet. Maybe one day raise a fund with 1-2 capital partners.

2 new podcast episodes are live this week Seven genius startup ideas from Cody Schneider. You'll need a notepad because Cody was dropping some mega profitable business ideas. Watch on YouTube​ Listen on Spotify​ Listen on Apple Podcasts​ 2. This solopreneur made $300M so we gave him an award. This episode was fun and easy-listening. Watch on YouTube​ Listen on Spotify​ Listen on Apple Podcasts​

Thank you for reading Greg's Letter. I hope you found it valuable. Forward to a friend if you did or share on social to get others thinking.

Until next week.

Be well,

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