According to CoFoundersLab, “ideas are free; execution is what makes them valuable.” What sets apart the great ideas from the mediocre ones? What does it take for a great idea to come alive? Everyone can generate an idea, but few can jump in and take action. Action takes a significant amount of courage, proper planning, and resources. Many simply choose to find someone else with the brawn or the brains to execute their idea because they are afraid of failure. This is the sad truth for thousands of dormant business ideas that never came to life due to lack of initiative.
How can you determine if your idea is worth taking the leap? Some would argue that any idea can become a million-dollar business if execution is done brilliantly, and this could be true. It’s up to you to put your money-making ideas into action. In reality, converting an idea into a reality is not an easy task, but requires a great amount of responsibility, patience, and hard work. Despite the hardships, here are some points to keep in mind when you’re braving the business world and bringing your ideas to life:
Like almost all other things, great ideas take time
First, you must clearly identify an unfulfilled need in the market and ensure that your idea can satisfy that need. There have been countless instances in which an idea is acted upon too hastily, which is a waste of something that could have otherwise been great.
It is highly beneficial to sit, alone or with your peers, in regular “think sessions” to discuss ideas and develop the growth strategies to materialize the best ideas into solid plans. When you focus on certain ideas, you can sort out the good ones from the bad, make the best decisions on how to execute, and even prepare for possible challenges that may come your way. Carefully examining your ideas from every possible angle keeps you constantly two steps ahead of failure. But remember: owning up to the possibility of your idea not working out the way you planned is also very important. After all, it’s not how many times you fall, but how many times you get back up.
Believe in your idea and be patient with yourself
It is absolutely impossible to execute an idea you do not believe in yourself. Once you believe in your idea, you give yourself a sense of accountability in bringing it to life. By being accountable for any success or failure throughout the process, you can have 100% dedication to getting the work done. Sometimes founders fail in bringing startup ideas to life because of unexpected challenges that they refuse to face and, in the end, they suffer the consequences of their actions. Belief in oneself, in the idea, and in the process is required to see things through until the very end.
Building a business is a continuous process that requires extreme patience. Take the time to appreciate the hard work you’ve put in and respect the process. If you are too hasty with the execution, that could lead to poorly-judged decisions that will negatively affect your desired results. Trust the process and learn from mistakes at all times.
Inaction is always worse than failure
Once you have the perfect idea, it’s time to take action. Many startup do not realize what it takes to facilitate great execution. Startup Daily calls these folks “wantrepreneurs.” To avoid being one of those people, here are a few places to start:
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