There’s no such thing as a free lunch. Which is to say, everything in life has a price. And if something is discounted, that same discount still has an invisible tag attached to it. That said, we still think that the value of something can be calculated by adding up the visible effort spent in making or doing that same something.

Visible is the operative word here because the more sweating, heaving and physical effort something involves, the more value it is given. So, for instance, a 30-minute workout carries more value than carrying out some research on which type of exercise best suits your physique.

The same thing goes for ideas. We seem to think that, because there are no direct costs and overheads involved, ideas are free or, at least, cheap. It’s what we do with ideas that is valuable.

While that may be true, it’s also a proven fact that ideas are valuable and people and businesses are increasingly ready to pay good money for an excellent idea that, in turn, can be translated into an excellent business model, an app, or an advertising campaign.

So do you have a good idea?

Here is how you can make it pay.

How to monetise your ideas

Value the seed

If you have a great idea, don’t wait for it to bloom because by the time that happens, someone else might have had the same brainwave. Be fast in recognising that your idea has potential and pitch it. You don’t have to plan out all the details – those will eventually come. When selling ideas, it’s the seed that carries the greater value, rather than the flower.

Of course, that doesn’t mean that your idea can sell without a plan – you must have at least a basic plan that can transform your idea into tangible benefits. However, leave room for spontaneity and be willing to take risks and adapt your idea.

Go wild

Don’t be afraid if your idea seems a bit wild compared to other, conservative ideas. A lot of people play it safe, which means that now is your time to be bold and brave. Move into the unknown and set the agenda. Being different has value. But then, don’t be different just for its own sake.

A learning curve

Not every idea is successful. If that were the case, everyone would be a millionaire. However, even those ideas that don’t work have value because you learn from them and use them as building blocks to arrive at your big idea. Just consider that it took Thomas Edison over 1,000 attempts to invent the light bulb.

Sell, sell, sell

Everyone is capable of having great ideas. And yet, not everyone earns money from their ideas – and that’s because not everyone can come up with a sales pitch for an idea. After all, an idea is worthless until someone is willing to pay for it.

Any idea – from an innovative business idea to a new, disruptive way of marketing a product – needs to be accompanied by a great sales pitch.

So if you want your client to buy an advertising idea, first of all you want that client to listen to you. So make your voice heard above the information overload by packaging your idea well and, most importantly, making your client understand that you believe in your idea. Without your belief, your idea will not sell.

Action station

So an idea that you had five years ago is on the market and someone got rich from it. Are you entitled to your cut?

Not really. First of all, you need to protect your ideas. And secondly, you need to act upon them. After all, ideas are hard, but execution is even harder. So if you have a good idea, put it into action or sell it to others who will transform it into a product, service or campaign.