There’s a lot of hype over entrepreneurship these days and we often talk about idea generation, raising funds, making a business plan, elevator pitches etc but the vital thing which we often miss out is “Execution”. Here, we are going to talk about the most underrated part for early stage entrepreneurs in detail.
Some execution tips –
1. Keep it simple – It’s important to keep things simple, be, it technology or process. Anything that is simple and easy to use will be an instant hit.
2. Generate passion – Have unconditional faith in your idea. You need to sell your story to a lot of people so unless you believe in it, you will find it difficult to convince others. Your passion needs to be infectious and should be able to motivate others.
3. Have immense customer focus – “Customer is God”. Yes he is. You need to communicate with your customers and understand their needs, ways to improve your offering and how you are being able to solve their problem.
4. Be consistent – Consistent execution requires a lot of focus and discipline and goes a long way.
5. Cash is king – No two words about it. Have a budget in place. Get used to accounting.
6. Short – term in action but long term in spirit – Stay true to your vision but remain focused on solving immediate customer problems to the best of your ability.
7. Hire smart – Hire people who are more talented and smarter than you and build a team that has the ability to self-motivate and can share a common passion.