Op-Ed: You win some, you lose some, not every idea is a GOOD IDEA
Author Hebé Lugo is president of Strategic Minds, LLC, a strategic planning, marketing, research, and design firm.
I go to my clients’ office, sit, listen and leave with a challenge. This is my daily life. (And I really love it!)
I go back to my office, sit with my team and together we: think, strategize and create ideas on how to accomplish such a mission.
How do you know a good idea when you see/hear it?
- It is in tune with your business vision?
- Does it help achieve and/or does is not defeat the purpose of the business?
An important factor when we discuss ideas is timing. The perfect timing is that moment in which the market is ready for it and the company posses the resources to develop it.
What most of us are in constant search for is an avant-garde and innovative concept or idea. Not having the proper timing could mean that the company does not have the resources, the leadership is not ready to go in that direction or you have studied the market, and it simply isn’t ready.
Regarding the resources, I would say, if it’s YOUR big idea, find them. As to whether the market is ready, think about this: What would have happened to the light bulb, TVs, cars, CD’s and Internet if inventors had thought that way?
If you truly believe in what you are doing and have the resources, the beauty of risk is that it can definitely transform an industry.
For entrepreneurs and business leaders to obtain the best results from their strategies, they must, first of all, have a clear vision of where they want to take their business. Secondly, they must consider that all businesses exits to fulfill a client’s need. For that reason we must understand where our clients are going.
Some ideas are not good enough. An idea with a good strategy has been thought through and has examined every step of the implementation, predicted employees, customers and industry interactions and pre-empted reactions from the audience to whom it will be exposed.
How do you make sure to get the best results from your strategy?
Execution, execution, execution
Execution is not the last step in the process of developing an idea; it is the most important step — or group of steps — of all. It is an ongoing effort and process.
As an entrepreneur, business leader, division or brand manager you are responsible of the results of a given “project.” For a successful execution, at Srategic Minds, we believe that:
- Proper project management is a must.
- Dreaming is a plus. When you visualize your idea you see it, feel it and live it as if it were real. When you go through that process you have already discovered the steps to achieve your goal.
- Measurement is key.
All this might seem like a lot of work for just one person or group of leaders. It is! The execution of a goal-centric strategy is the responsibility of the entire organization.
It is recommended that you talk strategy with your team, involve them and hear them out as experts. Not every idea that comes to our minds is a winner.
And, not all those that are, have to be implemented internally. If a specific “project” is crucial to the achievement of your key business goals for the year or your long-term plan, don’t cut corners and put success at risk. Always look for expert advice.
Never assume that because other ideas with similar criteria have been successful, these will be too. There are “Big Ideas” that, simply put, are not that “Big.” But for those who are, we must accept the challenge, risk is part of growing.
