Many of us have had, or know people who have had a business idea that someone else eventually turned into a successful business. “Carpooling your personal car? I had the idea for Uber ten years ago!”
When someone has a brilliant idea, they’re often keen on keeping it a secret so no one steals it—but they also forget that ideas are worthless until they are acted upon.
If you had the exact same idea as Apple but execute poorly, it will fail. If a world-class entrepreneur pursued a horrible idea with no market demand despite doing everything right, it will also fail.
If you have a brilliant business idea but your execution is mediocre, 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.
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. So when you truly believe that your product is better than anything else out there, and it solves a big problem, then just get started. With time you can adapt to the feedback from your initial core customers.
Don’t stress too much about your idea or perfecting the launch of your business. Spend more time on your execution, your product, and your customers for the best chance of success.