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Friday, September 28, 2007

Execution Is All That Matters

Serial entrepreneur Wil Schroter brings this article on "You can’t protect a good idea" - and it all comes down to EXECUTION.

While great companies can benefit from good ideas, they require superior execution.

Wil's advice:

  • There's a simple and effective way to protect your idea from the world -- focus on actually executing on the business plan. It’s rare that a company loses to its competitors because they “stole the idea” and somehow instantly created a huge company with it.
  • If your idea is good, it will be stolen.
  • If your idea has a "secret sauce" - simply explain what the product does, not how it does it.

BOTTOMLINE: "A good entrepreneur believes not only in themselves, but also in their ability to execute better than anyone else to turn the smart idea into a great company. Ideas are a dime a dozen -- execution is ultimately what matters."

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