In the Now: Dave Will

Does a good idea equate to a good business? And should you guard your Eureka-moment rather than sharing it with others? In this episode, serial entrepreneur Dave Will gives his perspective on these important questions and shares the story behind his knack for entrepreneurship. 

Watch the full interview with Dave Will here and read an excerpt from the interview below. 

Nowspeed: Hello everyone, I’m Dave Reske, founder and president of Nowspeed. a full-service digital marketing agency. Welcome to this edition of In the Now, where we aim to dispel myths and misunderstandings about marketing and leadership with some of the world’s most intriguing personalities. My guest today is Dave Will, a serial entrepreneur with a knack for developing revolutionary ideas into successful ventures. Currently, he serves as the co-founder and CEO of Prop Fuel, a conversational engagement platform aiming to make communication more human-centric. Before Prop Fuel, Dave co-founded Peach New Media, an online learning media company that specialized in assisting organizations in capturing, hosting, and distributing continuing education content. Welcome to the show, Dave!

Dave: Thanks for having me, Dave. I appreciate your inclusive statement about “the world’s most interesting people.” It’s an honor to be included in that category.

Nowspeed: It’s a pleasure to have you with us, especially given your additional experience as a podcaster. Could you share a little about your podcast?

Dave: Absolutely! My podcast is affiliated with the Entrepreneurs Organization and is called “EO 360°”. We’ve had a plethora of incredible guests on the show, from thought leaders and billionaires to those who’ve established globally recognized businesses. One of my favorite interviews was with the founder of Reebok — not Paul Fireman, but the person who conceptualized and created the brand. Engaging with these inspiring individuals offers unique insights that can be shared with our listeners. 

Nowspeed: It sounds like a treasure trove of wisdom and experiences. Now, let’s move onto our signature “myth-buster” segment. Based on your diverse entrepreneurial journey, can you share some commonly held myths about entrepreneurship that you’ve found to be untrue?

Dave: I’ve always admired this segment of your show, and I’m prepared to share a few misconceptions that I’ve observed. One prominent myth is the belief that a good idea automatically equates to a good business. We’ve all had moments when we look at successful businesses and think, “I had that idea!” But an idea, no matter how good it seems, is not a guarantee of success. This misconception often leads to excessive guarding of ideas, when in reality, discussing and sharing them can lead to their evolution and improvement. Successful entrepreneurship is less about having an idea and more about the ability to execute it effectively and turn it into a profitable venture.

Nowspeed: That’s an insightful perspective, Dave. For our listeners who might have a good idea, could you elaborate on the process of transforming that idea into a viable business? What would be your advice to them?

Dave: Definitely. I think the first crucial step is open discussion. If you have an idea, find individuals who express interest and engage them in conversation about it. Pay attention to their questions, their interests, and also their concerns. This process of dialog can unearth potential challenges and help you gauge whether you are ready or even interested in overcoming them.

Before I started Prop Fuel, I went through six or seven potential business ideas. By discussing them with others, I was able to identify hurdles that I wasn’t willing or interested in overcoming. However, for the challenges I felt passionate about overcoming, I knew I was onto something viable. Therefore, the exchange of ideas shouldn’t be feared, but rather embraced. Good ideas are like seeds; they need the right environment and nurturing to grow into successful businesses.

Moreover, I believe in the power of networking. There was a gentleman in our Boston chapter who suggested creating a list of 100 people who could potentially influence or assist your entrepreneurial journey. The aim is to foster these relationships without any immediate expectation, so when you need their input or advice, you have a ready network to tap into. Such networks can be instrumental in turning a good idea into a successful business. They provide invaluable insights, advice, and perspectives that can significantly improve your original idea and help you execute it effectively.

Make sure to watch this interview in its entirety here.