Ideas Anyone?

Everyday I get approached by entrepreneurs with ideas. Old and New. Some fantastic, some fantastical. Most entrepreneurs think that their idea is novel and not been thought before. Most fail to recognize the same old models without being able to differentiate. Very few think disruptive. The reality is that one idea is as good as another; if viable. Google was not the first search engine. And facebook was not the first social platform.

If you just take these two instances of entrepreneurial success, the underlying factor remains the execution of that idea. These companies survive and sustain because of the execution of these ideas, their evolution in creating a innovative curve in their space and the disruption that they cause in filling the gaps in our daily lives.

7 out of 10 entrepreneurs who approach me for counselling, have an idea in a non viable form. 9 out of 10 have embarked on a business that they do not understand viability or success factors about. 6 out of 10 do not have the focus of even determining what the end result of their venture would be. 9 out of 10 entrepreneurs came to me with ideas that they did not know how to execute. 8 out of 10 have started execution of their ideas but are facing challenges in execution because of an execution path not well thought out.

A venture is about determination of a viable idea, having a execution plan, revisiting that execution plan and driving it to success with extreme focus.

Ideas are the building blocks of entrepreneurship but the success of an idea lies in its execution method and results. The value of a venture is in its results.


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