Most people have very powerful ideas, when i say “idea” i mean strong/great ideas that can move their business/lives from a very small position to a big one.
Many would say, - oh! I don’t have an idea on how to boost my business. And they always feel the challenge is usually the idea but I say the bigger challenge here is the execution of an idea if it eventually comes.
I’m not saying idea is not important, both are equally important! A weak idea will only be compensated to a certain extent by excellent execution... And a brilliant idea is worth little without execution: after all, execution is the only thing a consumer gets to see
Some may say ‘Lack of capital’ is a common killer - but that again is brought about by bad execution (have a strategic plan for your business) in fact your plan should be more like drawing a plot for a house - paying attention to every single detail from management to administration to finance etc.
Map out different avenues for growth in your business - train when you can, go for trainings too on certain things you don’t know. This being said, it's pointless to put all your focus on the great idea, but rather to focus on the best execution of a not so big idea. A typical example could be, think about your life history - you will find out that most times you failed at some particular things and it could be due to the fact that you did not take out time to plan and execute them well. At least you can figure out why some certain things worked and the others did not.
So the major setback here is entrepreneurial knowledge rather than big ideas!
Even the smallest business you may be overlooking, requires hundreds of set-up systems to run uninterruptedly - well maybe a few but my point is “HAVE A STRUCTURED LONG-TERM PLAN FOR YOUR BUSINESS NO MATTER HOW SMALL IT IS”.
I really hope that many will agree with me, or am i the only one with this perception??