AddThis Feed Button
AddThis Social Bookmark Button
Free Newsletter Signup

13Feb

Why Success Doesn’t Come From Ideas

Posted by Pamela Swift in Business Ideas

Article Contributed by Julius Pankoke

College dorm rooms, garages and co-working spaces. If you read the startup news these days, that is where billion dollar businesses are created. An inspired individual is hit with the idea for Uber or Facebook and just like that they are on the unicorn track. But is it really a ground-breaking idea that makes these people as successful? Do you need a unique idea to become a success yourself? No. And here’s why.

Startup Bias

The problem is the definition of the startup itself. Even though it’s usually used for innovative companies in an emerging field of business, there is no set of characteristics to define what is and what isn’t a startup. Is the new coffee shop a startup just because they offer a special kind of coffee and are partly crowdfunded? Maybe it is. But will that affect its success? Unlikely. The quality of the coffee and the service are more likely to attract customers than the status as a startup. So no general innovation is required for this business to be a success. Companies like this make up the vast majority. So to give the people a better chance to become an entrepreneur, we will need to separate being an entrepreneur from creating a startup.

10% Idea vs 90% Execution

That’s a figure you probably have seen around when reading about entrepreneurship. Although it’s quite impressive, it’s also made up. It just serves to emphasize a point that a lot of veteran entrepreneurs like to stress to no end. To be successful you need to work hard. Starting a company and making it a success is a process that will likely take years. These years will be filled with hard work. An idea alone does not make money. You will need to create the company, develop processes, find customers, find partners, hire employees, lead employees, develop strategies and keep innovating the product. That is just a small part of things you will need to do in order to become successful. Or you are smart and find people who do these things for you. Nether the less, an idea is nothing without execution and as such not worth a lot. Some of the biggest companies took years to become successful. Some even faced possible failure more than once, while growing. Just take a look at Apple and Amazon. Nether become a success overnight and both are celebrated as being extremely innovative.

Waiting for the ball to drop

A lot of people, who are interested in starting a business are caught in a kind of entrepreneurial purgatory. Having an innovative, disruptive idea becomes a must have before starting up. In a world where a lot of things are already invented and a lot of problems have already been solved, really innovative ideas are rare. A good portion of these people would be better served to just start a business in an already existing field. Chances are, if they have a knack for entrepreneurship, they will make their business a success.

Innovation instead of Invention

You don’t have to reinvent the wheel to become successful. Instead, you should try to improve it. Find a problem that has been solved, but still has some room for improvement. Develop something or make a process easier, so that you solve the problem better than the competition. This will generate an added benefit for the customers and is a good base for a successful company. Quite a few greatly successful companies are based on this principle. Amazon didn’t invent online shopping, but they made it fast and easy. Uber didn’t invent motorized transportation of customers, but they made it cheap and fast by recruiting people with time to spare.

Conclusion

Having an idea for a disruptive new kind of business is a cool thing. It drives us to reach further and try harder. But there are just not enough completely new concepts to go around for everyone. So instead improve on what has already been thought of and make it just that bit better. That bit easier. That bit more fun. If you stick with it and invest your time and energy into it, you can become a success as well. We can’t all be Mark Zuckerberg and we don’t need to be.

Author Bio

Julius Pankoke is content contributor and start-up enthusiast. His areas of expertise are entrepreneurship, business development, and digital marketing. He enjoys both writing and reading good blog articles. With SmartBusinessPlan he currently helps entrepreneurs write excellent business plans.


 
 
 

 
 

Comments are closed.

Have an expert opinion on issues entrepreneurs and small business owners face everyday? Join the GetEntrepreneurial.com Experts Network and share your expertise with the community!

The new GE Experts Network is inviting seasoned entrepreneurs and small business owners to come on board and contribute small business advice to our community of aspiring entrepreneurs. If you have an effective way of generating sales or you know how to use social networking to connect with your customers, join us in providing wider entrepreneurial content that would benefit small business owners worldwide.

Click Here to Learn More >>



Free BIZNESS Newsletter
Ever wanted to be the CEO of your very own Starbucks or Amazon.com? Fire your boss and be your own boss? Now you can, with BIZNESS! - the free weekly business newsletter about new business ideas, opportunities and innovations from around the world. More than just new business trends, BIZNESS! helps the aspiring entrepreneur (you!) with small business advice, business tips, and entrepreneur resources and opportunities.

   Subscribe for free now!    Subscribe now


  Meet Our GE Network Experts!

Meet Our GE Network Experts!
 

Recent Comments

About GetEntrepreneurial.com

GetEntrepreneurial.com is a small business blog dedicated to providing business advice and resources to our community of aspiring entrepreneurs. Our specially hand-picked panel of GetEntrepreneurial.com Network experts regularly contribute entrepreneurial content and professional tips for small business owners worldwide.