By Harry Vaishnav
Quick question – “What is the most important quality Venture Capitalist look for when investing in a start-up?” Did you answer business model, idea or innovation? You are wrong. If you answered team members you are close, but not quite there. The most important quality any start-up needs to have is the founders’ ability to execute and develop the idea into a successful business.
You see, developing a successful business from an idea is like running a marathon. You can start strong, but if you are not able to sustain for long and execute your plan you will never be able to cross that finish line.
Ideas a Dime a Dozen. How to Turn them into a Successful Business
Posted by
Sian Phillips under Startups
From http://tweakyourbiz.com 4232 days ago
Made Hot by: elainerogers on April 18, 2013 3:15 pm
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Comments
4231 days ago
Distractions and procrastination - the first skills to be utilised when starting out - we need to learn how to focus more!
Fear of failure - failure is the new success! Learn and move on!
3 great points Harry - great reminder of why businesses never get started, or fizzle out after the initial try. We CAN combat them, but that takes courage, planning and execution - something I still struggle with - to implement all 3, in the right order, at the right time.
Not for the faint of heart - thanks for pointing that out too! Small steps build momentum, and that can help drive the motivation to keep going :)
4232 days ago
This is so true. If only every entrepreneur who started out understood the difference between a great idea and a business, we'd have fewer people getting disappointed when they find out what starting and running a business is really about. Thanks for sharing your thoughts and thanks to Sian Phillips for sharing this post with the BizSugar community.