Having an idea is only the first step to a successful business. There are two things that are necessary for a business to truly blast off. You must have a proper business model and a plan to execute it. When you spend the time to initiate an ideal strategy you can walk away with some great results. The ultimate goal when you have a business idea is to compliment the idea with a plan to follow through with it. Genuinely good businesses come from prepared entrepreneurs.
Key Takeaways:
- The tech revolution means millions of people are writing code, creating apps, looking for ways to come up with the next ‘unicorn’ idea.
- It’s worth remembering that along with an idea there are two other crucial aspects to a great business: execution and business model.
- It’s a powerful thing when you pull all three elements together: idea, execution, and business model.
“Execution is a specific set of behaviours and techniques that companies need to master in order to have competitive advantage. It’s a discipline of its own — Ram Charan and Larry Bossidy, Execution: The Discipline of Getting Things Done”
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