I’m slowly inching up on my two year blogoversary and one of best outcomes from my blogging adventure has been the opportunity to meet interesting new people and discover new ideas. Way back in the early days of the blog I started receiving a few insightful comments from a reader named Mark. He had a great startup blog that I enjoyed reading, but over the past six months it had gone a bit dark. However, Mark sent me a message the other day letting me know about his latest venture and asked if I’d like to do a post exchange. I’m always up for giving my readers a break from my drawn-out blatherings, so here’s a post by Mark on the power of execution over ideas. And if you’re interested, I’ll be thinking up an insurance-related startup idea that may be posted over on his new blog shortly.
Mark runs a startup insurance site, covering a broad array of Insurance News, called CrackInsurance. He is a long time reader of A Startup A Day (always wondering why there isn’t actually "a startup a day") and jumped at the opportunity to help readers of this blog practice the art of execution.
People have often approached me with different business ideas for the web with grand thoughts about being the "next big thing." It’s actually pretty easy to come up with new web-related business ideas. The difficulty is coming up with good ones 🙂 Frankly, some of them are easy to throw away, but others actually need execution and not just market research. To generate the ideas, you may read A Startup A Day, which manages to enlighten us with all sorts of great business ideas, or search Google, or go to multiple sites that discuss idea generation/actual ideas that are in play. Since they will get your creative juices going, they are all great places to visit and browse. In fact, some of them may be great businesses themselves (e.g. one of the great business ideas on the web has been teaching people how to make money on the web, ironically enough).
But let’s talk reality. Execution has been and will always be the key. In fact, I know this sounds heretical, but I’ll go so far as to say that when it comes to the web, we’ve entered the maturation stage. Meaning, the majority of new businesses have been thought of (e.g. try to find a good domain name) and tried. Does that mean there’s no opportunity? NO. It means that you will have to execute better then the next person and, as scary as that seems, that’s the true art.
So here’s a game plan, in order:
- Find an idea that you are willing to throw yourself behind 100%.
- Start running the site.
- Map out why you will be better than the competition.
- Run the site for a defined period of time.
- Now, map out why you will be better than the competition, one more time!
- Re-tool the site to fit your refined vision.
- Methodically execute on the tactical steps that need to be taken.
- Repeat the prior 3 steps, until you achieve ultimate success!