Answer:It’s fairly common to hear folks in "Startup Land" state that ideas are “a dime a dozen.” Most of us are taught to think that it’s all about execution, the ideas are a given.
There’s some truth in this logic. For every good idea you hear about there are usually a handful of other teams chasing the same concept. Innovation is incremental and everyone is staring at the same horizon. The result is that there are typically a dozen teams working on the same concept at the same time. And despite the number of attempts, usually only one or two teams win. So clearly the execution does matter. Otherwise all of the teams chasing each good idea would succeed.
But here’s the thing. The scenario I describe above assumes that the idea is good. The best teams succeed when chasing viable concepts. But so many founders are going after concepts that will never work.
Answers & Comments
Answer:It’s fairly common to hear folks in "Startup Land" state that ideas are “a dime a dozen.” Most of us are taught to think that it’s all about execution, the ideas are a given.
There’s some truth in this logic. For every good idea you hear about there are usually a handful of other teams chasing the same concept. Innovation is incremental and everyone is staring at the same horizon. The result is that there are typically a dozen teams working on the same concept at the same time. And despite the number of attempts, usually only one or two teams win. So clearly the execution does matter. Otherwise all of the teams chasing each good idea would succeed.
But here’s the thing. The scenario I describe above assumes that the idea is good. The best teams succeed when chasing viable concepts. But so many founders are going after concepts that will never work.
Explanation:
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