Someone introduced herself to me as, “Ideas generator..” “..I don’t know how to make these things work..”, she continued, “..but I have many great ideas!” I thought, what?!
Good entrepreneurs know not to be crazy about ideas. Many people have and share great ideas. They are a dime a dozen these days. Sometimes, I personally indulge in sharing some of our business’ most critical differentiating ideas with friends and strangers alike, and many times with impunity. We live in the internet era, an era of abundance. It used to be that companies succeeded or failed based on the merit of their ideas and secrets, and while that still holds true in many cases today, the internet has debased the value of such privileged information. Today, just about anybody that cares enough can research any business and probably come up with an even better model.
Thus, the real value today is execution – the peculiarity on how you drive and deliver ideas, how you choose the recipients of its value, and how you go about seeking them out. Just as important to mention is knowing whom the idea or value is not best fitted for, and the discipline to ignore them. This new approach to business is good because it means one no longer requires talent or ingenuity to create or distribute value. All that’s needed is the interest to learn, which thanks again to the internet happens at almost no cost nowadays.
Sticking it through the process of learning even when you don’t feel like it might be the most important virtue of the learning itself – because developed personality traits like effort, courage, grit, and consistency are ultimately the better virtues of execution in the face of time, setbacks, and criticism. In this process, one also learns to redefine success with intrinsic self-values – apart from status, greed, and ego.
Abundance, as opposed to scarcity, is beginning to redefine the economics of the twenty first century – and execution, as opposed to access, is becoming the new leverage. For the guy that built a company selling rocks, see case here, success cannot be attributed to the idea, but to execution.