Every startup begins with an idea, but from that point forward, it’s all about execution. Founders soon learn that customers only spend real money for solutions rather than ideas. Investors have also learned not to invest in ideas but only in entrepreneurs and teams who can deliver solutions. Success requires moving your passion quickly from the idea to the business implementation.
A good execution requires a plan and the right people, combined to create operational excellence and exceptional customer value. Companies that do this best become market leaders. Google, for example, was not the first Internet search provider (think Yahoo!, AltaVista, InfoSeek and others), but according to Investopedia, Google was the first to really monetize search.
As a result, Google has become a verb, and the company is a tech giant with record growth rates and a revenue of $74.5 billion in 2015. But Google is not unique. Many other companies have followed a similar set of execution principles which I believe are required for business success, no matter how great the idea.
So I will Mentor startups for,
1. Tune the business model to optimize value for all constituents.
2. Plan for pivots as improvements based on results.
3. Enable team members to run the business as their own.
4. Two-way communication at all levels is always top priority.
5. It’s hard to improve results that you don’t measure.
6. Define at least one worst-case scenario and recovery plan.
7. Optimize team efforts with the latest technology and tools.
And Many More…