Ideas = worthless. Execution is everything. I have come across that statement in numerous articles and books by successful people. If you need proof, go to Marc Andreeson's blog and read his body of work. Multi-billionaires tend to know their stuff, and he is way more convincing than me.
Some argue that being the 5th or 6th entrant into a market is optimal. The first few entrants make all the mistakes with product development and marketing in the early months. They then make changes after learning from the mistakes they have made over time, and you benefit from their painful trial and error.
Originality goes way beyond product ideas though. If you truly want to build a business, you have to create a company behind the product. That consists of many, many systems, a founding team with business instincts and vision, and the panache to bring ideas to life and build a company culture with flair. Everything has to be built from scratch. For my company, I see the products as one small part of who we are and what we do. Zappos calls themselves a customer-service company that just happens to sell shoes. If the shoe market goes to hell one day then they can take the business system they have built and pursue other markets. The value is in systems and top talent to run the systems, not inventions. Ideas are a dime-a-dozen, and we all have too many interesting ideas that we can't get to for lack of time. Systematic, consistent execution will make you that million bucks. If you have made it this far in the post, I highly recommend Michael Gerber's book called "the E-myth". It addresses why most small businesses do not succeed, and it has probably been the most valuable knowledge I have ever acquired. Also, check out sequoia capital's idea page, and see if your idea passes their test.
Now go out and execute!
Take your best idea, run with it, and make everything up as you go along.
is defined as having a unique spin on a product/service with a proven market, stunning marketing materials, and silver-tongued salesmanship
Some argue that being the 5th or 6th entrant into a market is optimal. The first few entrants make all the mistakes with product development and marketing in the early months. They then make changes after learning from the mistakes they have made over time, and you benefit from their painful trial and error.
Originality goes way beyond product ideas though. If you truly want to build a business, you have to create a company behind the product. That consists of many, many systems, a founding team with business instincts and vision, and the panache to bring ideas to life and build a company culture with flair. Everything has to be built from scratch. For my company, I see the products as one small part of who we are and what we do. Zappos calls themselves a customer-service company that just happens to sell shoes. If the shoe market goes to hell one day then they can take the business system they have built and pursue other markets. The value is in systems and top talent to run the systems, not inventions. Ideas are a dime-a-dozen, and we all have too many interesting ideas that we can't get to for lack of time. Systematic, consistent execution will make you that million bucks. If you have made it this far in the post, I highly recommend Michael Gerber's book called "the E-myth". It addresses why most small businesses do not succeed, and it has probably been the most valuable knowledge I have ever acquired. Also, check out sequoia capital's idea page, and see if your idea passes their test.
Now go out and execute!
Take your best idea, run with it, and make everything up as you go along.
is defined as having a unique spin on a product/service with a proven market, stunning marketing materials, and silver-tongued salesmanship