Your Business Idea Doesn’t Matter

A lot of us have had, or know people who have had business ideas that eventually turned into a successful business by someone else.

Many people are very keen on hiding their brilliant business idea, but forget that ideas are worthless until they are acted upon. 

If you had the exact same idea as Apple but execute it poorly, it will fail. If a world-class entrepreneur pursued a horrible idea with no market demand but did everything right, it will also fail.

If you have a brilliant business idea, but your execution is decent, then you get a good (but not great) business. This is a friendly reminder that your business idea probably isn’t as important as you think. Your execution is just as important and they go hand-in-hand.

An idea is a multiplier to your execution. Here’s the math:

Great Idea (100) x Great Execution (100) = 10,000

Decent Idea (50) x Great Execution (100) = 5,000

Decent Idea (50) x Decent Execution (50) = 2,500

Great Idea (100) x Bad Execution (0) = 0

Bad Idea (0) x Great Execution (100) = 0

Your idea isn’t the most important thing about your business.

Even if you have a revolutionary idea; if your execution is subpar, then your business won’t be great.

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As I discussed in a previous article, many successful businesses including Amazon, Apple, Netflix, YouTube, IBM, Disney, and many more ended up changing their initial idea anyways. So when you truly believe in your idea just get started, and then adapt to the market’s feedback.

Your business name is subject to change as well. Google was originally BackRub, and Instagram was originally Burbn.

Don’t stress too much about your idea. Spend more time on your execution, product, and customers for the best chance of success.