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Execution

August 28, 2008

As a follow to the the post about Guy Kawasaki’s tips I thought I would expand on the number two point “make a little progress everyday”.  What this is really getting at is execution.  One mistake a lot of founders make is to assume their great idea or cutting edge science is enough to build a successful company.  In fact a great idea is worthless without execution.  David Cohen of Techstars has this to say

“ The bottom line here is that your idea is not really as valuable as you think it is. Executing your idea however, can be priceless…….I once overheard someone put this another way: “A company with brilliant execution can [perhaps] steal ideas, but a company with brilliant ideas can’t steal execution.”

This is the reason it is critical to have co-founders, preferably with complementary skills, experienced advisers & mentors and plan or list of discrete tasks and time-lines.  These will change over time but provides a framework to ensure you make a little progress each day.

Written by Richard Stump · Filed Under Blog, Startups 

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