Your Million-Dollar Idea

by Rick Duree

Everyone has at least one in 10 years. It’s what we do with them that directly impacts our future.

I read a study years ago that explained how, on average, everyone has at least one “million-dollar idea” every 10 years throughout their adult life. That’s five to seven big ideas per person, but unfortunately not everyone can take advantage of every million-dollar idea they come up with. What stops us from reaching our wealth goals can be financial, emotional or physical roadblocks. Sometimes it’s family that takes priority, or maybe we’re scared off by the risk inherent in entrepreneurship. Or, like a guy I once knew, we create a wild and crazy new product that can solve problems and help people but then treat our great invention like it’s a toy to be played with instead of like the heart of a real business system.

Listen to this fish story! We all know people who love to fish. My dad’s one wish in retirement is to buy a bass boat and fish with the grandkids. Think about it. Quiet, smooth water on a private lake as the sun sets on a warm summer night. Glorious!

One renowned fisherman I met a decade ago – let’s call him Joe – entrusted me with his secret method to catch the biggest fish in the neighborhood. In his younger years, Joe would go out at night in his bass boat with a black light he’d rigged to the deck. He’d shine that light down on the water, and you’d be surprised how many fish it would attract! My brother-in-law, an accomplished fisherman, says fish are just plain dumb. Well, he ain’t lyin’!

Using his proven fish-attracting technique, Joe would take home tons of fish each weekend, to the praise of his friends. His buddies tried for years to pry the details of his secret fishing spot or lure choice out of him, but he never told a soul about his fishing discovery.

Later in life, when he was working hard paying the bills at his 9-to-5, Joe went shopping at the local bass boat store and noticed something strange. All the new boats were coming out with black light add-ons. He couldn’t believe it! Now everyone was going to be able to catch fish like he could. Hurt, Joe went home and told his wife the sad news. She sat there, thought about the situation, and then smacked him with the newspaper – hard!

“You could have taken that stupid black light contraption to Bass Pro and made millions!” she cried. Over all those years, he hadn’t recognized the entrepreneurial opportunity. He was having fun. He simply loved fishing at night. What’s wrong with that?
There is not right or wrong in this story. Fishing or making millions of dollars – they’re both awesome! You can turn something you’re passionate about into a moneymaking empire, or you can just kick back and enjoy raking in the catfish. The question is, What will you do with your next “million-dollar idea”?

A self-made entrepreneur, Rick Duree launched four successful businesses and had four kids by the time he was 30. A professor of entrepreneurship, inspirational speaker and community builder, he founded the Duree Center for Entrepreneurship, where he actively mentors young creators ramping up their startups. He is also the author of “The Entrepreneur’s Bible: 52 Proverbs of Profit.”