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What are the steps involved in turning an idea into money?

We all have groundbreaking ideas in our relevant and respective fields, even after implementation, many times we tend to end up even broke than before. What am I missing?

entrepreneurship creative-designing
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Andrew’s Answer

Hi Peter - at the core of entrepreneurship is the high-risk, high-reward reality. I think in the simplest terms, to "turn an idea into money" as you're asking is to solve a problem that a buyer is willing to pay for. For example, at the simple end, this can be mowing someone's yard (i.e., providing a service), to building an app that help high-school students write resumes & CVs for their first job (i.e., building a product), to putting data centers in space (as Elon Musk and Jeff Bezos have proposed). But, at the core of it, there are buyers that are willing to pay for the idea.

To conclude: If the idea doesn't solve a problem that someone is willing to pay for then money will not follow.

Good luck on your endeavor!
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Anthony’s Answer

Please, note the following, concerning turning an idea into money:-
1. The kind of idea.
2. Your deep knowledge and interest in the idea.
3. Your preparedness to use the idea.
4. There are various jobs or businesses. Think of the kind of job/business, THIS IDEA can fit.
Best regards.
Thank you comment icon Thank you so much for the advice. Peter
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