This guy was shouting all over the Internet about how no one will steal your start-up idea because an idea is 1% value and execution is 99%. Do you agree? Would you disagree?
Whether this guy is right about the 1% or not, there is no getting away from the importance of execution. What does execution mean? Well, on one level it means taking your promising idea and turning it into a viable product or service.
Whichever way you look at it, you will need to form some sort of enterprise to make, source, market, sell and distribute your product or service. If you’ve never worked for yourself, it’s probably going to be a steep learning curve and will involve much more work than you can imagine.
Even if you have a simple product or service, you can’t shy away from the hard work involved. You have probably seen the promises that some business advisers, consultants and coaches make about their fast and easy systems to get your small business up and running. But how credible are those claims?
For goodness sake, even baking cakes full-time will involve backbreaking work unless you pay somebody to do it for you but that’s going to eat into your profit margin. Plus it’s one thing doing the thing you love like baking cakes but quite another making your cake baking into a small business.
Generating or finding that promising idea may involve time and mental effort but let’s agree that it’s usually the fun and exciting part. After you’ve decided to go ahead, then the “execution” or sheer hard work begins. Remember, you are starting something new from scratch and starting anything from the beginning is difficult. You will need to find or make the time to do it. You will need resources. You may well also need expertise from others once you have identified your knowledge gaps.
That’s why it’s so important to be “passionate” or fired up about implementing your promising new business idea. You’re going to need the enthusiasm and energy to get it off the ground. You will need to identify several plates that you will have to keep spinning to transform your start-up idea into a product or service. At times, you may well wonder if you made the right decision. When things get excruciatingly hard, you may even question your sanity. Drowning in a sea of pain, you may even want to reach for a life raft (your old job).
I don’t know about you but I’m sick and tired of people who make starting a new business sound so easy to do. It’s not. You’ve got to face the long hours and hard work and do things in a more economical way using far less resources than anything you use to in larger businesses. It’s all about the bones and leveraging tiny resources.
A resource is still publicly available that can guide you from start to finish in executing your promising start-up idea. It makes no promises, doesn’t shy away or hide from the hard work involved and makes no guarantees except that you can return the resource if it doesn’t work for you. The rest as they say is up to YOU.
WARNING: Be careful who you take advice from. I just read about a get-rich gooroo who had a one book wonder but ended up dying a pauper. Now, his friends are trying to arrange money for his burial costs. Expose yourself to new information and material but please decide for yourself whether it is credible and trustworthy or not.