A Free MBA for Your Book (And Your Business)

I feel like everyone looks around constantly and says, oh, I have an idea for this [book]. I have an idea for this [book]. What’s the difference between some idea you have that would be great in the world and an idea that is an actual, workable [book]?

I was listening to one of my favorite podcasts, Planet Money, when host Robert Smith said that sentence. Well, not exactly that sentence. He said:

“I feel like everyone looks around constantly and says, oh, I have an idea for this business. I have an idea for this business. What’s the difference between some idea you have that would be great in the world and an idea that is an actual, workable business?

It struck me that Smith’s question — which was posed to Columbia Business School professor and venture capitalist Angela Lee — applies to books as well as to businesses.

On the podcast, Angela Lee said that she has been pitched over 20,000 business ideas — but only invested in 100.

My experience has been similar. Like Angela, I’ve been pitched ideas by would-be authors everywhere — in restrooms, at bars, and once in a pool on vacation in Hawaii. I’ve heard thousands of book ideas in my career — some good, many bad, a few laughable.