Daily Intent

Santa Barbara, CA
“Ideas are eons away from products and products are eons away from a viable business.” –Dr. Yulun Wang, founder of InTouch Health.

Eons away. 

Have you ever had a great idea and never wanted to share it with anyone for fear of the idea being stolen?  It is your idea.  You don’t want anyone going off and building it out before you are able.  So you keep the idea to yourself.  You share it with only a few of the people closest to you and request even they keep it in confidence.  Then you wake up five years later and the idea is still an idea.  No serious product or even project has come out of it.  The only thing that happened in the interim is a couple more people in your sphere know about this “brilliant” idea.  

I know I have.

This is quite silly isn’t it? 

If you believe Dr. Wang’s comment that “ideas are eons away from products”, then what are we really scared about?  He founded InTouch Health nine years ago and states, they are still in the “product phase”.  Are they growing?  Yes.  Are they the best product on the market?  Yes.  Are they forming long-term strategic partnerships?  Yes.  But he still believes they aren’t quite to the viable business tier. 
Eons away.  

Those of us that haven’t ventured into the entrepreneurial realm and continue pitching great and brilliant ideas to our closest confidants are not getting it.  We don’t truly understand the work and effort that goes into turning this idea even into a product.  We don’t understand that most people don’t have the tools, energy or space in their life to act upon this great idea we just shared.  Then again, maybe we are scared of what telling the world about our idea will do.  It will mean we have to act upon it.  We will have to live up to our word.  We won’t be able to hide behind the fact that we never really put much energy into it.  Yes, this is why it never took flight.  You never put focused energy into it.  

Dr. Wang would encourage you to change your frame of mind.  The only way the idea will ever get off the ground is by telling people and not just those closest to you.  

You need support.  You need a team.  You need capital.  You need resources. 

So next time you have a good idea, that fires up your belly, consider the many great ideas you’ve had in the past and what you’ve done with them.  Most of us, nothing.  Then consider a new way of living out this idea.  Tell the world.  See if talking about it with those outside your sphere inspires you.  You will notice most don’t see the opportunity.  Others will think you’re crazy.  And a few will really take a liking.  Then get ready to work.  

Might then, we have more great ideas turning the world round through tangible products and viable businesses. 
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MSR SABBATICAL: I will be taking a summer vacation from the Market Street Report to follow a couple writing opportunities that have come up.  I am very excited about these tremendous growing opportunities and am hopeful they better my writing for you, the reader of MSRs, come September.  I am thankful for your continued support and feedback over the last couple of years, for without this, I would have never had the confidence to take on these two side projects.  Note:  I WILL still be working for Bank of America Home Loans and helping you all with home loans.  But the few hours a week that I allot for the MSR, will be directed toward other writings.  Should you wish to read my ongoing perspectives throughout the summer, please click on the RSS Feed (orange box in upper right corner) at http://www.dailyintent.com  You will then receive my posts.  Have a safe, healthy, adventurous and family filled summer.  Contact me anytime at 805.450.9616 or this email. 

PLAN
Catalyst for Thought.  MINDS executive lunches.  June 10th.  John Petote.  Owner and founder of CIO Solutions.  July 8th.  Barrie Bergman.  Founder of The Record Bar and past owner of Bare Escentuals.  Register at www.CatalystforThought.org to ensure you receive the registration emails. 
Older Brother Nate’s Birthday!  Love you, brother!
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LEARN
Buzzword: Double Barreled
“A municipal general obligation bond in which the cash flows are pledged by two distinct and different entities. One entity will make interest payments, and the other, the principal payments. These are municipal general obligation (GO) bonds as opposed to revenue bonds because they are ultimately backed by the issuer and its taxing power.
Double-barreled bonds are sometimes referred to as ‘combination bonds’.
These bonds, as specified by their trust indenture, are municipal general obligation bond issues. For example, assume a local city issues a double-barreled muni bond to raise funds for a new toll road bypass. In the event that the cash flows from the tolls are unable to cover the interest and/or principal payments (debt service), the shortage would be covered by the issuing city from its general fund. These bonds are thus backed by both the toll revenue stream and the full faith and credit of the issuing city. “  -Investopedia.com
(This buzzword is in honor of Firestone, a local brew receiving many awards)

  Six Points to Ponder:
1.       10K. The weak Euro, and concern over European banks and stumbling European countries has investors running.  The Dow - Down - 10,191. The S&P 500 - Down - 1096.  The Nasdaq - Down - 2260.  Oil - Up - $75/bbl.
2.       Top Kill.  BP is making a final effort to stabilize the oil leakage.  Operation “top kill” is meant to plug the leaking wellhead.  Current progress is positive.  
3.       Housing Highs.  Single Family Home Sales were up 14.8% in April after a 29.9% rise in March.  Rates stay near historic lows.  Affordability is up.
4.       Apple Dethrones Microsoft. Apple yesterday became the most valuable technology company in the world, surpassing Microsoft.   
5.       Synthetic Life. “Craig Venter and team made a historic announcement: they’ve created the first fully functioning, reproducing cell controlled by synthetic DNA.”  http://www.ted.com/talks/craig_venter_unveils_synthetic_life.html
6.       Playoffs.  Lakers and Celtics NBA Finals?  The Suns and Magic aren’t there yet. Both series are at 3-2.  Did anyone see Big Baby get TKO’d in game 5?  Le French Open.  “But I’m le tired”.  Nadal, Federer and Roddick are not.  
Positives:
• It is no surprise single family home sales were dramatically up in April.  The homebuyer federal tax credit incentivized many into purchasing homes.  The continued low home prices and interest rates played a substantial role as well.  How big of role did these two components play?  We will see over the coming months as the federal tax credit ends June 30th (you had to be in contract by April 30th).  Thus, July and August figures appear to be the next most important short-term data points of which to monitor. Furthermore, the summer months are always the busiest months of the year in real estate.  Strong summer numbers in comparison to March in April are always expected, but in this case, more challenging to carry out. 
• Competition is best for the consumer, as long as there isn’t collusion.  It is safe to say Microsoft and Apple have no interest in colluding.  While Microsoft beat up on Apple for the last thirty years, it looks like Apple gets to start trumpeting around their victories of innovation.  The latest news of their valuation topping Microsoft will further support young workers being attracted to Apple over Microsoft.  And when you get the best talent, your efforts are most often ramped up.  Expect many more years of Apple’s success…with or without Steve Jobs. 
• Synthetic life, if used correctly, will be a huge benefit to society and its health.  One of the main benefits in being able to synthetically create and grow cells is via flu vaccines.  We saw the current vaccine challenges during the H1N1 crisis.  The extended time frame in getting vaccines to the market led to a rapid spread of the virus.  Synthetic cell creation would limit the spread and increase the rapidity of vaccines getting to the market.  
• More competition commentary: As much as I want the Lakers to be in the NBA finals after a 4 game sweep, I’m glad to see they are getting knocked around and reminded that they aren’t dominant.  They are good.  They may even be great.  But they aren’t dominant.  The Celtics were on a hot streak as well.  This is a good reminder for them and should play into NBA fans enjoyment of the game.  Remember: a main component of entertainment in sports stems from anticipation and uncertainty.  Anything can happen. 
Negatives:
• Yesterday and today, though BP executives are being cautious, looks to be days of progress concerning the oil spill.  However, if operation “top kill” does not succeed, it is believed the wellhead will continue leaking for another two to three months.  Most experts believe we’ll still be talking about this disaster 60 days from now.  Thus, the reason for caution.  Another interesting piece from this topic is future off-shore drilling.  Obama announced the suspension of Arctic drilling.  The current BP oil disaster has been projected to be worse and further reaching than the 1989 Exxon Valdez crisis.  President Obama had to retract much of his support for off-shore drilling. His once believed notion of oil companies having the ability to counteract and clean up oil spills has burned up.  His opinion and focus has changed.   Those against Arctic, and even California, drilling will be celebrating this announcement.  Interesting position to be in.
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GET INVOLVED
Local:

Memorial Day. 
Where:  Wherever your family and friends are.
When: This weekend.
Cost: Depends on your creativity, location and bling. 
Why:  A great excuse for balancing work and play.  This weekend play. 
For other fun ideas, go to www.lovemikana.com

Live and Be Well,

Jeff Bochsler