It’s not the idea – it’s the Execution!

Posted on Nov 1, 2012 in Entrepreneurship

When it comes to ideas, do you tend to wait for that brilliant idea to create the next Google, Facebook or Apple. Or are you afraid to talk to other people about it and think “what if they steal my idea!?” An idea in it self is worth nothing, what matters is how you execute it.

It starts with a simple idea
I have been caught up in this way of thinking, that the idea has to be extremely great and completely new. It doesn’t. Especially at DTU we tend to focus in this direction, due to a high level of knowledge and technical influence. A simpler place to start can be your hobby project, something you are missing in your daily life or an area of interest where you believe you can help others while earning money.

From head to Paper
Often the good idea, the one that you can’t really let go, arises when you are focusing on something completely different. I won’t go in to detail about getting ideas, because they will pop up anytime – you just need to be open to them and think them through. Sketch them and talk to people about them. You need to develop ideas to figure out if it actually is a good idea, if it’s realistic and how to execute it. When you discuss it with other people, you get a different perspective, you get feedback and tons of questions you probably can’t answer right away – which can be tough. But if you are passionate about it, then find the answers, take in the feedback and develop it further.

Ideas evolve – be open
Ideas evolve and often change into something completely different than it began with – and that is OK. You need to be open, take it in different directions and see what happens. Apple didn’t start creating a complete service system, Nokia was a rubber boot manufacturer to begin with and the idea behind Facebook was a place for people to bitch about each other – but all three evolved in different directions and have achieved success. So be passionate about it, let them evolve and know when to kill your darlings.

Stop thinking – start doing
When you then decide on an idea, the next step always seems hard – how to start? Where to go? Who to talk to? Once again it is important to talk to different people, get feedback and look at the competencies you need to get started. Is it a tech expert or is it the business perspective you need help with? Get people on the team if you haven’t already. It’s easier to keep up motivation, discuss it in detail and execute it when you are a team. With different backgrounds, competencies and perspectives, combined with a shared passion, a small idea can turn out big. And are you afraid that you wont get your complete share of the business? Don’t. It’s better to get a small part of a success, than a big part of a failure.

 

Getting started:

  1. Sketch it and think Why, What and How?
  2. Talk to people who can look at it differently.
  3. Send in your ideas to venturecup.dk and win Kr. 25.000 before Nov. 26th

 

“It’s better to get a small part of a success, than a big part of a failure.”