Execution Matters

I recently had opportunity to discuss business strategy with a friend. The major takeaway for me was the importance of ideas versus the execution of those ideas. The relative combination of the two is usually the difference between success and failure.

I owe the graphic on the right to RockthePost.com, which I used as the research for my own view (which will follow in future posts). The graphic can be interpreted by multiplying a factor in the idea column by a factor within the execution column. For example: A weak idea (1) times great execution ($1,000,000) = $1,000,000. An AVERAGEidea accompanied by the same great execution equates to a cool $5,000,000.

You can assign your own values but the bottom line is this: execution trumps a good idea or a weak one for that matter.

Stephanie M. Davis is an award-winning, Boston-based marketing executive. Twitter: @stephaniemdavislinkedin.com/in/stephaniemargodavis