Your ideas are worth millions of dollars! You have so much that you could do! But is this true? Sure, maybe your ideas are WORTH millions … but they will never make you a cent if they are not executed. Execution is the key to any great idea.
In today’s episode, we’re sharing a presentation from Max Lock Con 2022 with Tyson speaking about the topic of “Why Your Ideas Don’t Matter”. Not only does he go over what to do with your ideas and the process you should put your ideas through in order to see if you should act on them – but he also gives you tips and tricks to work through the execution phase of your ideas … which is key to making you those millions.
Grab your notepad and pen and get ready to be inspired.
Resources:
01:00 Having an idea box that makes you millions?
04:35 Lawrence Barnet is a great story of a great idea —That turned out to be a really bad idea that ended up causing deaths … similarly one of your GREAT ideas could cause the destruction of your law firm
06:47 We spend all this time in the area of having ideas – we should take one or two ideas and focus on the execution stage
07:23 What do you do when you have an idea? Create a battle plan
08:19 Battle plan roadmap
09:43 Put it on your calendar – instead of trying to fit it in here and there.
11:43 Follow ideas that you have a passion for – make sure you are thinking them through
13:55 Improve an existing idea – and focus on the execution of it
15:09 Share your idea
16:46 Act now!
🎧 Tune in to today’s episode and checkout the full show notes.
🎥 Watch the full video.
Resources:
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Transcript: Your Ideas Don’t Matter with Tyson Mutrux
Becca Eberhart
In today’s episode, we’re sharing a presentation from Max law con 2020. To keep listening to hear Tyson nutrix as we share his talk, your ideas don’t matter. You can also head to the maximum lawyer YouTube channel to watch the full video. Now to the episode.
Speaker 2
Run your law firm the right way. This is the maximum liar podcast, podcast, your hosts, Jim hacking and Tyson Meatrix. Let’s partner up and maximize your firm. Welcome to the show.
Tyson Mutrux
Well, Amy’s bring up the case, I do want to thank file vine, they’re our title sponsor. And this would not happen without them, I promise you. So I want to make sure that I think them if you don’t have filed by and if you do have five on make sure you go and visit them because it’s really, really important. What’s in that box is actually worth millions of dollars. Actually, what’s in that box could potentially be worth billions of dollars. You’ll see what’s in the box. Anyway, all right. I thought you might. So what’s in this box are maybe my best ideas. Not all my ideas. But I’ve been collecting ideas since the 90s. I was teenager at the time. But there’s a lot of great ideas in here that can make you millions of dollars, millions. I actually have only shown a few individuals ever what’s inside those books. It’s very personal to me. Do you all want to peek inside a couple pages? Yeah, okay, good. Well, this is one of my favorite ideas. Hover grips. Okay, there’s suction cups that whenever you go into the bathroom, I’m a germaphobe. So you have to sit on the toilet seat. You suction yourself the the handles to the stall walls, and you hovered over the toilet seats. If you think I’m nuts, these exist, okay. There are a lot of different variations. I had this idea in the 90s, though, I’m telling you, it’s a great idea. It’s a million dollar idea. Next thing is a window sill barbeque grill, okay? These are by me these I’m not making this up. These are real notes from a long time ago. As an injury lawyer, it makes me cringe when it comes to think about liability. And I actually didn’t think this thing would ever exist. I found so many windowsill barbecue drills on the internet, it shocked me. So you can get one for $185 If you want another million dollar idea. This next one. It’s a dog dryer. Okay, who here has a dog? Okay, so whenever you don’t ever do it, Amy does it. But whenever you shampoo the dog, they get all wet and they shake and it’s just a mess, and you’re gonna wait forever for them to dry off. Well, these, this is perforated on the bottom. And so the air blows up and it dries up the dog. It’s basically a cage is what it is. This is actually one that’s for about $3,000 really expensive. It’s another just great idea that’s in my books, right? This is one of my favorites, though it is the radio telephone. And this is whenever I used to work at State Farm. As an intern, I literally stuffed envelopes is what I did. And so what I would do is I would wear these headphones, and it would be attached to a radio and I’d actually listen to FM radio on it. But my note on this was really funny for people at work, who want to listen to radio but want to look like they’re working. So you can basically just sit on the phone and just listen to radio all day. The terrible idea, obviously, but all these ideas are terrible ideas. And over the next couple of days and even yesterday, probably you know you’re getting a lot of ideas, you’re going to hear about file VI, which is fantastic case status, fantastic. You’re going to hear people talking about you should hire this person or you should fire that person, or this is what you should do. You should do SEO because that’s gonna get you the most clients or you know, the best strategy is referrals. That’s how you build a practice is on referrals. Okay, you’re gonna get a lot of these ideas. None of those ideas matter, though. None of them do. None of the ideas in this box matter. Not a single one of them. But really, why is that? The little story about a dentist by the name of Lawrence Barnett. Lawrence had this idea. He’s sitting around and said, You know what, I want to create this yard game. What you do is it’s a metal object. It’s got a sharpened on it when you throw it up in the air, and it comes back down into a little circle. And as you can see, kids played with this story well This caused three deaths and children and 6000 injuries, very serious injuries, he was a very bad idea, okay. And part of the problem is that many of you will come up with these ideas, or you’ll hear these ideas, you will take them back to your firms. And you will, you’ll start the destruction process of your firm. And what you’ll do is, and I know this is gonna resonate with some of you, every year, you’re gonna change your systems, and you’re gonna change them again, and again, and something else is going to change. Okay? And it’s very, very costly to your firm’s these ideas are very, very bad. Okay? You need to think about these ideas before you take them back. And part of the problem is that you are trying to come up with an idea for a problem that does not exist in your firm. Today, you’re trying to come up with a solution to a problem that does not exist. Okay? It’s really, really important, because you’re gonna get a lot of great ideas, and many of them will be great for you. Maybe they won’t be great for you. And I wanted to get to this one a little bit later. Because the obvious answer as to why ideas don’t matter is it’s the execution that doesn’t matter. And this is a quote from Steve Jobs. To me, ideas are worth nothing unless executed. They’re just a multiplier. Execution is worth millions. So what if what’s in these books is worth millions. It’s the execution that really is worth the billions. It’s nothing else. It’s not the ideas. And what many of us do, and I’m including myself in this is that we spend all our time this little squiggly area, we just generate ideas, and we drive our people nuts. We just drive them absolutely batty. And I’m seeing heads nod, because you know, what I’m talking about. And the reality is, is that we should take one or two really, really good ideas, or even mediocre ideas, or even honestly, bad ideas, sometimes just focus on the execution stage. And that is where you’re going to make your money is executing. So and I’m not Pooh poohing ideas, I have ideas all the time I drive my people nuts. But what do you do whenever you have an idea, you need to focus on the execution. Focus on the execution. Take a couple of the ideas from the next couple of days and focus on executing one or two of those, you need to have a battle plan. And I chose battle plan intentionally because I don’t know if you know this, but tomorrow is the 80th anniversary of my math is right of the Battle of Midway. And it took a lot of planning to do. I love watching world war two documentaries. It’s fascinating that some of the things that they did, they took inflatable tanks and trucks and they took them to Midway. It was just an amazing plan. They had a plan. And it was actually a terrible idea what they were going to do. But they executed the plan brilliantly. They had a plan. So you need an idea battle plan. And I’m gonna give you some tips. First, the first thing you need to do when you hear an idea and you think you’re going to implement it, you need to define your goals. What do you want to accomplish with this? I do. Then research the idea. If you do these two things, just define your your goals, and then research it, you’re going to filter out about 99% of your bad ideas. You’re going to get rid of them. You get past that. Now you start outlining your tasks, you start assigning those to your team, then set aside the necessary resources for it. Okay, that’s the execution part of it. You’ll notice there’s only two of these that are actually the idea phase. The rest of it’s the actual execution phase of this. The most important part
Becca Eberhart
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Tyson Mutrux
So the guild members hear me talk about this all the time. You should put it on your calendar. That’s right, you should put it on your calendar. I’m gonna show you this picture. I don’t know if I mentioned this, but I’m a pilot. Have I mentioned that before because I’m a pilot. This is the designated pilot examiner I felt like garbage that day, my allergies were awful. But I became a pilot that day. And I went back and looked because it took a little bit longer than I’d anticipated to actually get my pilot’s certificate. And if you look down here, this is for July and August of last year, I had put in 20 flight hours, and it’s based on harvest time, it’s not the actual time you spent out there at the airport, you only get credit for the time that the engine is on. And I was on a really good clip, I was on a pace of getting my certificate by last year’s conference in October. And if you look at my calendar, I was getting up at 530 and 6am, three days a week to knock it out. I’d set aside the time to do it. It was something I really wanted to do. And then around September, the firm got really, really busy. And if you look in October and November, I put in only 8.7 hours. And I was really curious because I wanted to see if I had it on my calendar. And I had three dates on my calendar. I had no dates in November, not one day, that does not mean I wasn’t flying, what I was doing was I was trying to fit it in here and there. It’s the things we do on a daily basis where I’m going to do that. I’m going to do that. While do it tomorrow. No, okay, I didn’t get it. I’ll do it on Friday. I know I’m promised, I promised myself on Friday, I’m going to set aside the time, I’m going to do it during my lunch break. And what happens you go to lunch with with some friends and you skip it again, right? It’s gotta go on your calendar. Another part of this when it comes to ideas, you need to follow the ideas that you have a passion for. This is another idea I had it was a dog hair floor vacuum, okay. And what it was is it was it would go on the floorboards are under a bed. And for those of you that dogs it essentially just suck all the the vacuum, so you wouldn’t have the vacuum every day. And he might have a golden retriever. They shed like crazy. And there’s a lot of here. So that’s where the idea came from. But as you can see, this is actually the start of a mindmap. Okay, there’s only one little thing on it. This is about 2006 or seven, whenever I decided I was going to going to be actually said I was gonna become a lawyer before that. But whenever I was starting to go to law school, oh seven, and this was the elements of a law firm. This is just one sheet. This one is on a website. Okay. I clearly had a passion for this. There’s a little section of my blog, the website that it was going to be local legal gossip was the idea. I had a lot of different ideas. And I’m only going to show you a few I get page after page after page of this, you think I was a maniac. Here’s another one on free upgrades for clients that I was going to give to people. That was just a bunch of crazy stuff. Here’s one when it comes to advertising. This is just one page on advertising a bunch of different ideas on that. But I clearly had a passion for it. I didn’t have a passion for hover grips, I didn’t have a passion for dog dryers just wasn’t for me. Another thing and this is a really interesting quote, and it’s something I just recently heard. Make sure you’re not selling trombone oil. This is from Michael Eiger, he had gotten this advice from a former boss of his. And he says avoid getting into the business of manufacturing trombone oil, you may become the greatest trombone oil manufacturer in the world. But in the end, the world only consumes a few quarts of trombone oil a year. So when you come up with these ideas, make sure you’re thinking them through, make sure that you’re solving a problem, because you might just be going down the trombone wheel route. And there’s really no benefit to it. Another thing is you can improve on existing ideas. So you may have had an idea that you started years ago in your firm, maybe it’s a software that you’ve been paying for for three years that you’ve done nothing with. Anybody know who this guy is, I will be really, really impressed if you do. This is Thomas Love user luck. Anybody know what he did? Now that you’ve heard the name, he invented the mp3 player. I bet you’ve heard of this guy, Steve Jobs. And what he took was he took an idea that someone else had, and he focused on the execution part of it. He did it really, really, really well. As you probably know what company invented this Outback Steakhouse, anybody else? Wrong. It was actually Russell’s Marina grill. But the founder of Outback he had worked there and said, I’m going to make this better. And I’m going to make a steakhouse around it. He took an existing idea and he executed it really, really, really, really well. steaks are not great, but bloomin onions amazing. Here’s the other thing too. And this is I don’t really want to talk about this whole lot. But there’s a whole scarcity mindset too with ideas. And I think part of our profession too, is we like to hold on to ideas, because we don’t want other people to use them, which I think is kind of sad. But if you don’t do something with your idea, people will actually eventually invent it. This is an idea that I had a long, I think it was like, this is probably like 98, like professional job finder, or maybe it is probably 2000. It was a professional job finder, it was a listing of jobs, you could list you know, your, what’s your licenses are your developments, there is a ranking system, which I don’t know if I’ve seen yet. But I’m sure you’ve heard of indeed, and LinkedIn and all that. I mean, this is that was the idea, right? And 2002, guess what happens? LinkedIn is created. So people will come up with the idea, if you don’t execute on it, you need to execute on the idea, if you’re really passionate about it, I started talking about a second ago, but talking about sharing your ideas, really, your great idea, it means absolutely nothing if no one knows about it, or if you don’t do anything with it, if you have a really good idea, like I think that the world would be a far better place, if you share that with someone that’s actually going to execute on it. Okay, don’t hold on to those I get so many ideas on here that are actually really are good ideas that I’ve done nothing with, that I really should tell people about. Because they really are some really good ideas in there that you could you could make millions of dollars on, but I haven’t executed on it. This now I will tell you, this is gonna be this next part will be really, really hard for me to get through. I’m gonna try to but it relates really, really well with what Jim was talking about. It’s really, really important to act now. This is and I’m going to not look at the screen because it probably made me cry. The this is my sergeant first sergeant in the Army rollin Thompson. In March he was
Tyson Mutrux
he was I don’t get emotional, as you’ll probably know, he was murdered by his actual his stepson. And rollin is one of the nicest people I’ve ever met, just a genuine human being. And I know that he and his wife, Amy had lots of plans, they had so many plans for each other. If you read there’s a section in his in this Facebook post as well, I put it in there were, but we still needed you here. As they still needed each other. They had things they wanted to do with each other. And what I want for you. I’ll go back to that picture in a second. But what I wanted, I want your ideas to matter. I do want them to matter. A you have got so many great ideas, I want you to execute on those ideas. I don’t want them to sit in a box, I don’t want to sit on them to sit in a notepad with nothing going on with him, I want you to execute on those. Because I’m sure that if you were to think about you being on your deathbed, or if you open that card, and it tells you what your expiration date is. I’m sure there are ideas that in your head that you would have a lot of regret on not executing on them. And so please think about that. If you have something you want to do, please do it. Okay, please, please do it. I don’t want you to have that regret when you’re on your deathbed. Please, please, please make your ideas matter. Thank you.
Speaker 2
Thanks for listening to the maximum lawyer podcast. Stay in contact with your hosts and to access more content content, go to maximum lawyer.com. Have a great week and catch you next time.
