I recently took part in a focus group yesterday on campus run by Mathematica, which sought to measure how effective Wake was using the Kauffman grant; namely how students perceived the Entrepreneurship Center, what events and organizations were being formed, how significantly entrepreneurship was being publicized, etc.. (For those who don’t know what that is, the Kauffman foundation gives money to schools to start entrepreneurship programs, etc. Wake received about $2M two years ago).

A participant made a comment that resonated with me: so many people have ideas floating around. But only a small percentage implement them.

That’s a shame (even though I’m guilty of the same thing), especially when considering how much money is out there and how willing people are to help young entrepreneurs.

So here are some tips on starting something:

1. Realize that ideas are a dime a dozen.

2. But realize that most ideas don’t get implemented. What differentiates you is execution. Did you try it? Did you devote yourself to it? Did you want to succeed? Those are questions that will be asked. Lots of bad ideas have turned out to be successful businesses, i.e. selling plastic dog crap. Now that’s crappy. (ha ha).

3. But attempting to implement a decent concept is a lot better then trying out a crappy one, for sure.

4. Talk about it. To everyone. Don’t keep it on a piece of paper stuck under your mattress, or locked in your safe. Ideas get better through refinement, and since ideas are a dime a dozen, you won’t lose anything by sharing it. In fact, you’ll talk about it so much that you’ll improve it without knowing it.

5. To borrow a notion from Guy Kawasaki, an early Apple employee and “product evangelist,” close Microsoft Word and pick up a soldering iron, open up your graphics program, take out your hammer. In other words, start using whatever tools you need to implement your concept. Now. You can only write about it so much. Just do it! Once you get started, you’re past the hard part. A natural inertia will set in.

6. Have a vision, but be adaptable in ways to implement it. Be simultaneously flexible yet focused.

7. Have fun.

8. Be realistic.