I love the idea about being passionate and having great ideas. But I think Execution is king. I mean tons of people have really great ideas. But you often need people who can take an idea and get something done. Thats why there is that sterotype of the creative and the number cruncher business team.
Thanks, Kimberly! That is an excellent point about execution, and how the make up of the team does drive execution. JA’s point about the ups and downs also ties in: drive ahead with passion and commitment.
If I threw in a piece of advice for budding entrepreneurs, it would be to gain some experience before going all in. You can gain experience by talking and listening with other entrepreneurs, by working in an entrepreneurial firm and paying attention, or by starting small before making a huge leap.
Alfred R. Baudisch, of Jornada Imperial – Em busca dos trilhões, Brazil, has a formula for success. Here’s his comment:
I have tons of ideas, but I do not have time for starting them, because my business is growing and the demand is being high.
So, has kimberly been said, the execution comes after a idea.
I think the sucessful formula is Ideas, everything starts from an idea; Execution, what is an idea without going out of your mind?; Passion, to continue and develop the idea.
Of course another features are important, but they are together with these, in planning (idea), execution and passion.
Also, I think Mr. J A Chowdhary is a kind of Blue Ocean (www.blueocean.com) vision, which is perfect! (I am studying it for the 3rd time and writing my business new strategy on this).
Thanks for the article.
Thanks, Alfred! I like your formula of Ideas, Execution, Passion.
The Blue Ocean concept was new to me, and I find it fascinating! For those who aren’t familiar with it, the Blue Ocean Strategy is to move your business away from areas of fierce competition, towards clear open areas where you are uncontested. The website is www.blueoceanstrategy.com. Amazon has a decent online summary of the book, Blue Ocean Strategy.
Thanks for introducing me to a new strategy! It may be particularly adaptable to rural and small town businesses, who need to make themselves different from any other business in town.
What is your advice? Do you agree or disagree?
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.