Strategy or Execution for Successful Ventures
I am approached every year by hundreds of entrepreneurs with great
ideas, great strategies but no track record of execution - all seeking
funding for their respective ventures - and I turn them down one after
the other for a lack of track record executing.
So here is some food for thought for all those of you still debating
whether should funders back an idea/strategy or whether
execution/track record is really what counts.
First time and aspiring entrepreneurs often mistakenly believe that a
completely unique and original idea is what's going to make them rich.
In reality it has very little to do with the idea, and more about the
choice of market, the team, the execution, the persistence, timing, and
how good you are at adapting the business along the way based on
what you learn.
I've made this mistake multiple times already in thinking that one
specific product idea would be the key to a successful business and
then got trapped working in an area I wasn't thrilled about.
So instead of looking for one specific market gap, think much more big
picture about what kind of market you want to be in the long run.
Continuous Reading: Successful Ventures
Ziad K Abdelnour