Imagine if Mark Zuckerberg hatched the idea for Facebook, yet all he did was talk about the site instead of developing it. Imagine if Jeff Bezos talked for a year or two about selling books on the Internet instead of going through developing the actual Amazon website.
It’s not enough to have a great idea in the retirement plan space, you need to develop a plan to carry it through to the marketplace. I will have to say that one of the most annoying parts of this business is hearing plan providers with terrific ideas, yet failing to come to the market with them. I once had a third-party administrator client who promised he’d make us all rich in the open multiple-employer space, instead, he dawdled long enough for the Department of Labor to put the kibosh on them in that TAG advisory opinion.
Great ideas aren’t enough, a plan to take those ideas to the marketplace is needed.
