February 10, 2012, 1:22 am

It’s Execution, Not Ideas

Filed under: Peter Radizeski,Strategy — Monday, April 19, 2010 @ 11:14 am

The trouble with many entrepreneurs is that they have so many ideas. Ideas come at them from every where. Here’s the rub though: it’s not the idea; it’s the execution.

Any idea is nothing until acted upon.

How often have you heard someone say, “They stole my idea”? They didn’t steal anything. You have to act on it.

The other problem for some entrepreneurs is that they just want to put ideas in motion. No follow through. Nothing beyond the excitement of starting something. They leave it up to others to execute and carry through on the idea.

When I have listened to Start-ups pitch, the one thing always lacking is a sales plan. It’s great to germinate an idea and launch a business, but how will you make money? I think many hope to be like Twitter: put a ball and bat in a yard and watch other people play with it until you figure out a business model. Google, Microsoft, Yahoo, and AOL bought many companies but not more than 120 per year. It’s like buying lottery tickets as your retirement plan.

It’s not the idea, it’s the execution on that idea that leads to success.





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