Yeah, you need a business idea in order to have a business, but this is not the most importnt element for that business to be a story of success.
Many entrepreneurs believe that an idea alone will guarantee them wealth and success, but the facts are more complex than that.
There are a lot of people out there with wonderful business ideas who never make money out of them! Why is that happening?
First of all, is happening because in order to bring money, the business ideas must to be implemented. But in order to be implemented you have to know a lot of other things beside the idea itself.
For exemple, you need to have specific skills to turn a idea into a great business. Everybody knows how to make sa burger, but does everybody can start a business like McDonald`s?
So, the business idea is not everything!
Of course, no entrepreneur starts with a complete business model in mind when he has a first idea in mind. The idea forms only the seed, including some partially pieces of information about what such a business model might look like in the future. It takes a lot of churning and turning, shaping and refining, market research, pivoting and testing on the market in order to find out the right “ingredients” and actually turn this idea into a viable business opportunity.
In the analogy of the seed, it requires the desire, care and nurturing by the gardener in order to turn the seed into a small plant and hopefully a large tree at some point. But besides this effort, it also takes skills and capabilities from his side (individual-level factors) as well as sunlight, water and the right soil (external factors) in order to help the plant grow.
Execution is as important as planning.
This goes back to the idea that “on paper” doesn’t exactly equal reality. Remember that a good business idea is only as good as the people who are able to execute it. If you have a masterfully designed workflow, you need an operations manager skilled enough to oversee it. If you have ambitious financial goals, you need a controller with enough experience to help you hit those goals.
Building a team is an important part of the process, and without a strong one on your side, even the best business ideas can result in failure. Human resources should be one of your top priorities.
If you have a great business idea, and you’re interested in starting your own business, don’t let all these reasons dissuade you.
Starting a business is tough, and making one successful is even tougher. But if you go into it with the right expectations and a reasonable vision for development, you won’t fall victim to the misconceptions that have disrupted so many.