Why Your Next Big Idea Won’t Matter... Unless You Do This

One of my clients has a brilliant business idea - an industry disrupter with global potential.

She is incredibly passionate and knows the industry inside out. She is even a thought leader in the sector.

But here is the thing...

It cannot stay an idea forever.

Execution beats ideas every time.

If she does not act quickly, one of the big players will - if they have not already.

You see, ideas are everywhere.

Problems that need solving surround us every day.

Some entrepreneurs come up with 10 ideas before breakfast - every day.

But if they stay as ideas, those problems remain unsolved and no value is created.

There are countless brilliant ideas that never see the light of day.

I have got a long list of them - right there in my Notes app!

All with potential, but still just ideas.

Did you know Kodak came up with the idea of the digital camera? But they did not pursue it, thinking digital photography had no future!

Execution is Everything

So why does this happen? Why do so many great ideas never come to life?

There are many reasons, but here are a few of the most common:

1. Perfection Paralysis

Planning every detail. Perfecting every feature. Eliminating every flaw.

This is a HUGE mistake.

Not least because we are not our customers.

What we think matters much less than what our customers think.

Do they need that feature?

Does that imperfection really bother them?

Getting your idea out to potential customers as soon as possible will give you answers much faster than weeks of navel-gazing.

2. Resource Constraints

Lack of money, time, knowledge, energy, or belief - any of these can derail a great idea.

But I see resource constraints as gaps to be filled.

Money can be found. Time can be scheduled. Knowledge can be acquired. Even energy and belief can be generated.

For my client, she needs technical expertise to understand what is possible with her idea - a tech co-founder? An IT development partner? Maybe even a conversation with ChatGPT to fill some tech knowledge gaps?

And if a gap is too big to fill, how can it be broken down into smaller steps?

Think MVP (Minimum Viable Product) - the smallest version of your idea that can test a key assumption and provide feedback.

It could be as simple as a Typeform survey to find out what your potential customers are really thinking.

3. Fear of Failure

This can impact so many areas of our lives, especially in business.

What if no one likes it? What if no one buys it? What if it does not work?

Too many “what ifs”.

This brings us back to point 1. Perfectionism is often driven by the fear of failure.

The key is to think small, as in point 2, and remember that failing equals learning.

What is the smallest iteration you can test with potential customers to learn something?

In this way, there is no chance of failing - only learning what your customers want (or do not want).

So, what is stopping you?

Get your idea out there.

Start executing - now, before someone else does.