What if your business never existed – would anyone care? What if you never took that idea you had and pursued it relentlessly to form a business that is now delivering value to the market? In listening to the first ever TWIST episode I was reminded that execution is arguably the only thing that matters if you are trying to start a new business or grow your existing business. As an entrepreneur or business owner if you are having trouble executing then it’s probably fair to say that you are either having trouble with your finances, managing your time or maybe both. Need some motivation to get focused again? Read on.
5 years ago Jason Calacanis hosted the first of 514 episodes (as of this post) of This Week In Startups. If you have never heard of Jason or TWIST then you probably aren’t a technology company and probably are not a start-up but all you need to know is that Jason is a perfect example of how to execute with results that speak for themselves. So what does this mean for you as an entrepreneur or business owner? Jason is proof that you should know what is happening in your market right now and then have an opinion about what is going to happen. Why? Because those opinions will form your business strategy and will help you execute on new ideas or on improvements to your products and services. Five years ago Jason was talking about technology, “real” entrepreneurship, publishing, content, management issues (control, delegation, Michael Jordan, etc.) and had opinions on each of those topics (even used the term “pound” instead of “hashtag”). Years later it’s clear to see that those opinions drove him to execute on numerous ventures and reap the rewards of real returns on his cash as well as being involved in very disruptive businesses. But that’s not all. After 500 plus episodes of talking about technology and startups he has undoubtedly helped shape the entrepreneurs that listen to him as well as make money for the investors that invest with him. Execution is everything.
Need more proof that execution is important? Jeff Bezo of Amazon says “I very frequently get the question: ‘What’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one. What’s not going to change in the next 10 years?’ And I submit to you that that second question is actually the more important of the two — because you can build a business strategy around the things that are stable in time” (click here for article and read 2/3 down). Jeff Bezos has built an amazing business empire by executing on ideas that stem from having opinions about the markets he is in and what is needed to be a leader. Execution is everything.
Here’s the key: if you want to execute, have an opinion. If you are stuck and feel like you are not getting anywhere take a moment to think through the basics of why you got into business. Ask yourself questions that get you thinking about your business again. Not the stuff in your business but the reasons your business exists and serves the market. The trends and changes that are happening as well as the challenges and opportunities. If you need to be reminded of what your opinions are, tell some folks about what your business is doing and listen to their questions. Those questions will need answers and those answers will come from your opinions. If you don’t want to tell anyone about what your business is doing then download some podcasts (including TWIST episodes) and listen to what is happening with other businesses. Inspiration is a funny thing and can come from anywhere. You are in business for a reason and already took the hardest step. Continue to execute and watch what can happen.
“You miss 100 percent of the shots you never take.” — Wayne Gretzky
Note: Click here to see how mlenow.ca is making life easier for people and businesses that need money.