Have you ever had a brilliant idea which you thought was the next big thing in your area of expertise? Did you work towards making it a reality? It is much easier to come up with ideas than to execute them. As a matter of fact, majority of ideas do not end up being a reality. This is because the creators of these ideas are unable to execute them. Execution is the process of taking an idea and making it a reality. It is the activity of applying an idea in the market so as to have the desired effect. It also refers to the style in which you perform this activity. Execution can be a long, tedious process that is full of twists, turns, successes and disappointments. It is the first step in an entrepreneur's long journey. You can be one among the few who actually execute their amazing ideas. Here is how to turn an idea into reality.
Be confident and believe in yourself
For you to take some action upon your idea, you need to be confident and believe that you will be able to handle the consequences of your actions while executing your idea. When you take up the responsibility of turning something that had not existed before into a reality, you become accountable for your activities. Being accountable means that you are confident enough to be fully dedicated in executing your idea. The main reason why many people are unable to execute their ideas is because they lack self-confidence. Overcome this popular problem and enjoy real success with your idea.
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Create a personal panel of advisors
One of the most important pieces of advice to entrepreneurs and pioneer is to take advice. This is so that you can learn from those who have executed their ideas before. It is easy to think that you have all the answers because the idea is yours. Actually, you don't have all the answers. It is helpful to come up with a group of people who you can turn to for advice whenever you need some. They can be your personal panel of advisors. They have wisdom which they acquired from their failures and successes. This wisdom will help you along your path to execute your ideas.
Make risk your best friend
One of the factors that accompanies the process of executing your idea is risk. It is a fact that cannot be ignored. Therefore, it is better to accept it than to ignore or fear it. When you accept that risk is a part of the process, you will be able to view your path of execution with a realistic view. Accepting risk means that you need to have a risk management plan. This is because things don't always go according to your arrangements. Your risk management plan helps you to deal with the ups and downs of your execution plan.
Analyze the overall potential impact of your idea
When you come up with an idea, you are tempted to think that it will change the world. However, this may not be the case when it is viewed through the eyes of an external party. Therefore, you should present your idea to your panel of advisors and assess its impact. Does your idea achieve the fundamental goal which you have for it? If it does, how big is its impact? An honest review from this panel will help you know the impact of your idea and if it is worth your time and resources. If it is not, then you can move on to another idea or spruce up your current one to make it have more impact.
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Invest in it yourself
Mark Cuban says that this is basically known as eating your own dog food. If you expect other people to invest in your idea, then you must also be willing to do so too. To execute your idea properly, you need to first of all invest some money into it yourself. For example, if your idea is web-based, then you need to invest a minimum of $200 in it. With this amount, you can purchase a domain, build a website and then test your idea with Internet users. You can also test it with online tools such as Yahoo, Google Adwords or Bing. By seeing the public response to your idea, you can know if you should continue with the execution or you should adjust it before proceeding.
Have a roadmap for the stages in your execution process
When you have an idea and you desire to execute it. It is highly important to identify the stages of execution that you intend to have. After that, you can arrange these stages into a roadmap which you can follow. There could be stages such as application of Information Technology (IT), the addition of staff, purchasing, warehousing, sales and customer service. There are tools which you can use to project these costs as you begin executing your idea. They give you accurate information that you can utilize to create a trajectory for your idea execution.
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Write a press release for your product or service launch
A press release is one of the most serious stages of introducing your product to the world. Therefore, if you can write one and maintain professional confidence in your idea, then you will be in a better mental state to pursue it. If your idea involves a product or service which you easily start producing and distributing, then you can write the press release and post it online. However, if you need some more time or resources to roll out your product or service, then you can write the press release as a credible guide for the vision which you have for your idea.
Conduct small product or service tests before you perform your main release
When your idea is ready for the market, you should execute it by making releases or sales of small samples of the product or service. This is to test out the response of your market to your idea. These tests can help you to identify the value, profitability and direction of your product. After you have conducted these tests, you will also identify the target in your market which you should work towards. After knowing all these factors, you can then proceed to make larger releases or sales drives during your execution.
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The Important Take Away
Ambitious people are always bubbling with ideas. Many of these ideas do not see the light of day. This is because the owners of these ideas do not execute them properly. The tips above can help you to execute your idea in a way that guarantees its success. Following them can turn your idea into a solid, prosperous reality.