Ideas are just multiplier of execution*
Hey Entrepreneurs, are you there? During doing of some routine (wod, driving, cooking, whatever) you definitely juggles a lot of ideas in your head. And yes - some of them are fantastic and could be 1m$ business. But in most cases they have no execution.
After a while you see an article on techcrunch which describes amazing startup which someone has executed. And yes the idea of it is something you though last month during morning run. You are out of the boat :(
In order to avoid this, please remember Great Idea without Execution means Nothing.
*Special thanks to Derek Sivers (sivers.org)
The picture was originally taken from http://sivers.org/multiply
While I was reading this post, the opposite outcome of a potential multiplication came to my mind : "Awful idea x brilliant execution" is worth of "-10 000 000"... Am I too pessimistic or as they say simply "risk aversive"???
ReplyDeleteGood catch! I guess you are acting as a "critical friend", which is really important. When someone has an idea and execution there there definitely should be person who acts like a "critical friend".
ReplyDelete