Is success of a business based more on the decisions or the idea?
I recently attended an event where one of the speakers talked about the large number of businesses that fail. She said that most business failures are less about the idea and more about the poor decisions made. I am curious if others agree with this. I think decisions are important, but also having the right idea is critical to success.
Mobile app development is a describe the action to used to mobile app for mobile devices, such as personal all devices mobile ,tablet ,iPad enterprise digital media to get here best mobile application developer from fluper. more info visit here : https://www.fluper.com/mobile-app-development
The success of a business is based on relentless hard work, failing fast, learning quickly, and always being ethical and truly doing whats best for your customer. Making good decisions is more important for the success of a business than merely a good idea?
A great idea is only an idea until you make the decision to take action on that idea. Only then will you start to see growth and hopefully profit.
Additionally, what is a great idea? What you think is a great idea, I may think is a terrible idea, and then when you make the right decisions and eventually become largely successful, will I, the "expert" say "damn, why didn't I do that?"
Hope you enjoyed my thoughts!
Everyone needs a startups for the initial of any business. Thus, startups plays a very crucial role in the overall development of any business.
Thinking of starting an online business….? You need Online Business Ideas that can help in setting up the new business.
Nowadays with the advancement of technology and ecommerce, everything has gone online whether it is education, shopping, tickets booking, travel and a lot more.
Everything has gone online. People can also prefer the online mode rather than go offline. In a very fast lane of life and advancement in technology, no one has enough time to go market or needs place, spend a plenty of precious time of hours, standing in a queue and waiting for the turn.
Online Business platform offers a variety of options to all the customers for their needs and wants. People would prefer online shopping accordingly anytime, anywhere and whenever they want to.
Main five things to remember when starting a company:
1.Own your name
2.Get in with the law
3.How much do you need to live?
4.Where are you in your life?
5.Don’t over -- or under -- spend
For every business, it needs a startups for the initial of any business. Thus, startups plays a very crucial role in the overall development of any business.
For the complete craziest startup ideas I have seen people execute successfully: http://www.fatbit.com/online-marketplace-business-ideas.html
Can't agree more on this. It is the poor decisions that bring the business down. But it does not mean ideas do not matter. An idea that differentiates the business from the rest makes it easy. But good ideas too fail if right decisions at right time.
Depend how you see success as - short-term, long-term, add value, increase size, capture certain group of market, and even a success product launch ...Idea is the creation of your perception, which again due to your perception you make a decision on the idea you have. An idea need to have clear goals, actions plan, schedule, etc so that we can make decision. I.e. an idea is one of the input information for decision making.
Whether the idea is good or bad, if we decided to act on the idea, the moment of decision determine the success or failure.
Success is accounted for achieve certain targeted results (when the information provided is correct - idea achieve), thus DECISION is the critical determinants.
A good decision maker will able to reject lousy idea, poor information, and even able to make decision when information insufficient.
I am a strong believer that decision holds the success key.
I would somewhat agree though not completely. Let us put it this way, most businesses fail because of poor decion making and execution. This is regardless of how good the idea is. Often the idea is good but really evolves as you start the journey and it gets refined and takes a practical shape. In today's environment where businesses are getting completeley redefined, you know that the idea that you start with may become something else. Amazon is a perfect example. What is important is that you make the right decisions and execute with passion.
Having stated this, I am presuming the idea is half decent enough for people to have jumped into the business. It cannot have be the brainchild of a nutjob.
Decisions are critical, timely taken tactical or strategic decisions may drag even an average idea to some good extent, while bad decisions mostly taken at wrong time mostly make even the great idea fail. That is the reason, why anyone can get a similar idea, but only few take the burden of implementing that with a vision, and a very few out of those make that a success with right and timely decisions; and as someone mentioned below - even a good idea is an outcome of decision.
We had social networks even before facebook, ecommerce even before amazon, taxi apps even before uber to name a few examples where idea was not new but the way they were implemented, positioned, and promoted as solving a real problem or opportunity actually made these leaders in their areas.
So decisions, dear, decisions...:)
A mediocre idea when coupled with good decisions on how its implementation will always trump a great idea followed by poor decisions. Most of us have witnessed a new successful business (or even industry) that we had the idea about months or even years prior. Someone else came up with the idea just like we did, but then followed it up with the decision to make it happen.
I think Idea is critical to success, where decisions play important role how we implement depending on market research or analysis.
I have a mentor that wisely told me, "There is no million dollar idea. There's million dollar execution." That's a big reason people fail. Other reasons: (1) The don't invest in the mentors that show them to path to follow and (2) They quit way too early. There are countless entrepreneurs who are soon close to that inflection point, but give up instead.
businesses fail based on poor decisions and corporate strategy
I believe business success is a mixture of many things including ideas and planning so you can make the correct decisions
Businesses often fail because the founder becomes so intoxicated with his or her idea that they fail to take advice that would help them execute and attract the buyers they seek. Other times I see intelligent people who have so many great thoughts that every day is a new day and a new plan. If the leader doesn't keep focused and clear on the goals the rest of the team cannot execute a solid business development plan.
The idea, or concept comes first
The Plan comes next
The decision how to execute the Plan comes next.
The audit of the Plan comes next.
All decisions made are then becomes your ability to adjust change, and use your options to run your business.
Business success is based on THE SELLING. "Nothing happens till somebody sells something"...ever. If you can't sell you better be able to hire someone who can.
Ideas are a dime a dozen (maybe less) and if you can't sell there are no decisions to make.
Learn how to sell...then learn how to market. Nothing a business owner can do is a better investment than marketing. Coke & Pepsi can sell brown, fizzy water and McDonalds can sell really bad food through marketing what could you do with a great product and ethical behavior?
Decision or Idea? Is all based upon a Plan. The idea of a business succeeding or failing based upon one or the other I believe belies the total picture. Think of a marriage. It take two to make a good and or a bad marriage. The same holds true for a business. An idea and decisions based upon that idea is a marriage. In business it is smart to consider taking this approach:
Things we do well now
Things we can do better
Things we do poorly
Things that can hurt us.
Well, to be honest, it is a combination of the two, together with decisiveness and able to process data rapidly to assess the risk.
As I mention elsewhere, voloume does not equal efficiency. In the same way as the number of calls per hour is not an expression of efficiency, but the number of ACCURATE calls is. For example the mania so many companies have with Credit Controllers particularly that they must make 30 phone collection calls per day, can be absoloutely absurd.
I have been brought in to companies to deal with debt reduction projects and given this same "target", only to find that the ledger has more holes in it that Ethemal Cheese, and indeed raises the question of how the hell the auditors signed of the last set of returns to Companies House !
In many cases I have found account duplicated; that is to say one account in the Limited Company style, but another account for exactly the same company in its Trading style. Cash on the Limited Company books, invoice on the trading style; both treated as credit entries on the Balance Sheet, and making the Current Asset position a complete fiction.
Business sucess is people talking to eachother across the company, and not building fences around your various departments and trying to "demonstrate" who is the most profitable, or has greater authority. We all work for the same company, remember?
In my experience getting people to talk to eachother is one of the biggest hurdles.
The e-mail, whether internal external is the most evasive "communication" system ever invented since people do not always open that e-mail until too late. Even allowing for the fact that you may work in geographical areas, a telephone call, or face to face meeting is more effective than piniging e-mails back and forth.
If we talk to eachother a business is more likely to be efficient and successful. Massive turnover, with an equally massive write off does not make a profitable business.
Critical decisions if not handled well kill the most innovative ideas.