Someone made $48,000 from my idea. Here's 3 lessons...
Yesterday I discovered that someone who had the same idea as me made $48,000 from a project he created two days after I launched my own. And I want to share the lessons I've learned from it with you.
Here's the backstory...
A couple weeks ago, I started a project called The Most Private Coin Ever.
The premise behind it is simple: it's an Ethereum token that makes fun of ICOs by being fully transparent and claiming that it's worth nothing.
I launched the token for sale over a week ago, and have been working on marketing it ever since. You can see some of the promo videos I created:
The Teaser | View on Facebook
The Trailer | View on Facebook
I even created a Facebook group, and engaged/helped people where I could with learning about Ethereum and wallets and ICOs.
And to most standards, it's starting to work.
That's 43,000 views, 1.6K likes, 40 comments, and 62 shares.
~70 tokens sold.
Additionally, to drum up some attention, I reached out to various publications sharing with them about my project, figuring this would likely be a huge hit.
And so when I saw that someone else had the same idea, launched it two days after mine, and has already made $48,000 from the project, I wondered what the hell happened.
I posted one of the videos on Steemit, and someone replied: "Hey, check out the Useless Etherem Token - looks like they beat you to it." or something of the sort.
When I went to their site, I literally shit myself.
It was essentially the same premise, except they were selling WAY more many tokens than I was. They were even getting covered in the press, when no one responded to my reachouts (before this project was launched).
So how did this happen? What did I miss?
Here are my thoughts.
3 Lessons learned from watching my idea come to life in someone else's hands
1. We Don't Own Ideas
This may be a far-out concept, but hear me out.
Ideas don't come from ourselves. They come from a the "collective" - the space that's shared in-between us all.
I remember when I first created the project and showed a friend, and he said, "Oh, you should check out SendMeEther! This guy is essentially telling people to send him Ether for free in a funny way."
I can't find the site, but it was essentially a website that was launched with a similar concept a couple weeks before I launched mine ...and I didn't even see it.
And so here's what I'm seeing:
Ideas come to us. We don't own them, nor do we create them.
Rather they are "given" to us, and we have the choice whether to act upon that idea or choose to ignore it.
Basically what this means is that if you have an idea about something, it's likely that other people are having it to.
If you have an idea multiple times, it's much more likely that it's starting to become prevalent in the collective.
That's what I failed to see. That because I had the idea, that it was mine and that if I didn't tell anyone about the idea, it wouldn't happen until I acted upon it.
So while people could take this as "he stole my idea", I'm more-so seeing it as I failed to act upon the inspiration that was given to me, and so someone else took that opportunity.
If the idea is something that YOU want to do, and want to be the creator of, then that brings me to my next point:
2. Act Quickly and with Precision
I've been talking about the idea for The Most Private Coin Ever for a couple months with my friends now.
It wasn't until last week where I actually launched the thing.
I realized that I had a lot of doubts and insecurities...
Would people find this funny?
Would people buy it?
Would I even be able to pull it off?
And because I was entertaining these insecurities and doubts, I froze. For months.
As a result, by the time I started executing on the thing, my enthusiasm around it was gone and riddled with complexity and a sense of staleness.
If it's one thing I've learned over the years, it's that ENERGY IN = ENERGY OUT.
The universe responds energetically, and so I'm not surprised that the stale energy I had of going OUT is what came back to me.
It would make sense as to why no publications picked up my project, yet two days later after I launched, the Useless Ethereum Token got tons of press and raised $48,000, which is still rising.
Now, who knows if people are buying it or if he's funding it himself or if he's connected to people that run the publications or if < insert other possibility here >.
All I can do is see the trends and see how reality responds to me.
And so my lesson for this is if I continue to get an idea, and it's inspiring, act QUICKLY and PRECISELY.
Stay present. Stay open to the possibilities.
Don't blindly act without consciousness, but do your research, create a simple plan, and go do it.
It's important here to not let doubt and insecurities get in the way. If you stay frozen from them for long, someone else will take the idea from the collective, create it, and reap the rewards.
3. There's always opportunities
After seeing what happened I got initially angry. It was interesting, actually, because as I was walking down the street with my friend Mike sharing my anger, some people jabbed at me, "It's a beautiful day people!!".
As if anger is a bad emotion and that my anger means I hate someone? No! It means I'm angry at the mechanisms and doubts and insecurities within myself that caused this event in my reality.
Got on a little tangent there, but anyways...
What came to me after my emotional expression was a newfound clarity that there's always opportunities.
I'm already thinking about ways to make use of The Most Private Coin Ever project.
The project just died in it's current form, but what is life without death?
Whenever moments happen like these it's a signal to me that something that doesn't work DIES so that something that will work better is BORN.
I'm appreciative of the life lessons and I'm looking forward to what comes next on the journey.
If you'd like to follow along on my journey, follow me at @maxnachamkin