I’m working through a fascinating tome on the birth and history of ESPN, Those Guys Have All the Fun – Inside the World of ESPN. Besides giving us an inside look at ESPN, which started from nowhere and was broadcasting from what some would say nowhere (no offense to Bristol, Connecticut, which I’m sure is a lovely town), the book provides us a sense of what goes into turning a great idea into reality. The first lesson I took from the book is that a great idea is not enough.
In 1978, Bill Rasmussen had a dream for an all sports channel, and with $9,000 he put on his credit card and some money he squeezed from family members, he sought out investors. Eventually he landed a huge one and ESPN was on its way. Unfortunately, his big idea was not enough. All the hours he and his family poured into the venture was not enough. Even the money wasn’t enough. What he lacked was a coherent, detailed long-term plan that projected how ESPN would succeed. Others would come work for the company. Those who had a plan. Ones who could see Bill’s vision, who understood you needed more than just a vision and who created a plan to implement it. And along the way, Bill lost control, became what some would say ”irrelevant” and was eventually bought out. His idea wasn’t his anymore. His dreams had become someone else’s. And that was it. A brilliant man was pushed out. Unfortunately for Bill he was missing the plan - details big and small – and eventually he got in the way of his dream. ESPN appeared to have outgrown him.
Whether it is planning for a case, leading an organization or figuring out your life, yes, you need the big ideas. Without Bill, there may never have been an ESPN. And yes, you need the hard work. And sometimes, you’ll need capital too. But those ingredients don’t work unless you know where you’re going and have figured out how best to get there. That means both big picture and little picture. That means understanding and knowing the “business” of whatever you are doing. Figuring it out as you go along isn’t good enough. See where it got Bill.