Execution is everything in business
Having a dream is great, wanting to build your own business is admirable and we strong,y support and encourage all entrepreneurs, but all too often I come across people who have these great ideas, then they want me to sign an NDA. (non disclosure agreement)
Stop. first do your homework, it is 99% probable that your idea is not that original, and this should definitely not dissuade you from starting a business, often a good business is taking an existing idea and improving on it, adding a new element of service or opening it up to new markets.
Execution is everything in business, good or great ideas don’t build businesses, it’s the execution of those ideas that have the potential to grow into a business that may in the future have value.
The best advice I can give, is that if you cannot sell it, IE, find buyers for your service or products, rethink your business distribution model and stay focused on finding your model, keep in mind that you need to generally solve three “things” in order for people to buy from you and become paying clients.
- you need to provide a solution to your clients problem
- satisfy a need or
- satisfy a want
If you do in fact come up with a new groundbreaking idea, this is where there is a case for signing an NDA, but do your research first and make sure you get expert legal advice and assistance.
First to market is not a guarantee that you will be successful, Execution is key, secondly, the first person to scale is going to claim the sector.
Once again all too often the first mover advantage, sometimes referred to as the first mover disadvantage is about scaling ability and execution to get to market so that you become the dominant player. This is where partnerships, marketing and strong execution is vital.
Surround yourself with highly competent people, great organisations are built with strong people and great teams
