Tag: execution

Posted on

The myth that people get rich by having a “great idea”

Credit: Death to Stock
Credit: Death to Stock

Felix Dennis, one of Britain’s wealthiest self-made entrepreneurs, says:

“The second myth is that people got rich by having a “great idea”. While this is a more feasible hypothesis than having got rich by accident, it is a trap, because it is a partial truth… The follow-through, the execution, is 1000 times more important than a “great idea”. In fact, if the execution is perfect, it sometimes barely matters what the idea is.”

What you think of this wisdom from Felix Dennis? Continue reading “The myth that people get rich by having a “great idea””

Posted on

Don’t underestimate the back-breaking work it takes to make a start-up idea viable

English: Black and white cake, made at the Cli...
(Photo credit: Wikipedia)

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. Continue reading “Don’t underestimate the back-breaking work it takes to make a start-up idea viable”