Don’t Get Hung Up On The Big Idea

Far too many would be entrepreneurs spend their lives wishing they could start their own business, but never do. Why? Because the are continually looking for The Big Idea.

What sets the successful entrepreneurs apart from the failures or even worse the never-even-started is not an amazing new business idea, it’s the execution.

Look at Richard Branson, he’s a billionaire, he’s widely acknowledged to be one of the most successful entrepreneurs around and what businesses got him there? A chain of record shops, a record label and an airline. None of these were big ideas.

Duncan Bannatyne is a multi-millionaire and one of the investors on Dragons’ Den and he most certainly did not start with a big idea, instead he started his entrepreneurial endeavours selling ice cream from a second hand ice cream van. He went on to build nursing homes, nurseries and gyms, none of which I’d call a big idea.

In short you don’t need a big idea, you need good execution.

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• 1

  This is so true, cause in actual fact most businesses are not unique as if there were they would quickly have competitors. Its about how you run, implement, create etc. People makes businesses not services. Digg your post

  G Web on October 9th, 2008
• 2

  The reality is most businesses are clones of other businesses (how many bakers, butchers, supermarkets, used car lots are there).

  What many forget is those businesses while not new or “sexy” tend to stay around, while business ideas based on the latest fad tend to disappear and fail when the fad passes.

  John on October 9th, 2008
• 3

  So if your ‘running with the pack’ then you need an excellent USP! But in this day and internet age is this still enough?

  Michael on October 12th, 2008
• 4

  mine is not realy a commen,i just want u to give me advice on hw to start a business as up coming enterpreneur.i dont have a large amount of money but i believe i can start something and that thing i dont know.pls u can send the information to my mail.thanks

  TEMITOPE JONIPINSAIYE on October 12th, 2008
• 5

  Michael,

  Yes in this day and age an USP is still important.

  TEMITOPE,

  Please post any question in the forums.

  John on October 12th, 2008