Good ideas come from bad ideas, but only if there are enough of them

It takes practice. 

Developing an idea and knowing what to do with it, when to do the right thing and having the courage and wherewithal to thrust it into the public eye... all earned capabilities [to most people].  Your ability to recognize the idea is great is of no value - however you must get it in front of a network of people who have credibility and allow them to benchmark it's efficacy. 

If it were easy, everyone would do it. 

Most good ideas, it turns out, aren't unique - or for that matter very good at all. This is the point.  It's hard and not everyone is good at coming up with them.  The law of diminishing returns is alive and well with the concept of ideas.  My big idea today is Myspace'd tomorrow. 

Test your ideas and measure your tests.  

It's only good if people stand behind the idea and it produces some measurable output for some predictable expected returns.  Groupon wasn't the first business model from the company, but the result of an experiment from guys who knew how to effectively test-market an idea.  Don't miss the point.

Audience is everything.   

Two words: Jersey Shore.  To a moderate, respectable human being this idea is despicable and would be reprehensible to indulge in experiencing.  To me, on the other hand, it's a fuckin' incredible idea.  Turns out, most Americans side with me.  "The Situation" is that Jersey Shore is a hit, especially because you hate it, you still watch it don't you? 

Ideas are worth nothing.  

You have a good business idea.  Great.  Take the idea past just thoughts, and you may be onto something.  You may also find out that your idea isn't that great after all, it sucks.  Even better if you do this early and often.  It takes 10 bad ideas to get to a decent good idea.  The value is in determining that value in a lean manner. 

Good People can Save Bad Ideas, Good Ideas Can't Save Bad People. 

I love this quote from Ben Horowitz, who I am recently infatuated with.  It's a valid statement with a barrage of historical evidence to back up the claim.  It's one of the reasons most VCs will tell you they invest in people, not technology.  Bad people are not saved by great ideas, but they may receive a respite from the inevitable.  These people generally don't have the ideas or execute or determine the trajectory for the ideas success - this will all be flushed out in time and they will see the exit.