4 Tips To Successful Execution
Most things start with a great idea, but plenty of great ideas never actually get started. Even the best ideas mean nothing without successful execution and successful execution is what separates the winners from the losers and successful companies from those that fail. This is all of course easier said than done, but if you truly want to succeed, you need to put in the work that comes along with it. So often we see companies that fail in the execution part of things because they don’t plan ahead and don’t really have a game plan in mind. If you want to turn your great ideas into a great company, you need to learn how to execute them properly.
Here are 4 Tips to Successful Execution:
- Define your goals and processes: This is probably the step where we see most companies go wrong. You need to make sure you have everything well defined before you jump in. You will certainly hit problems, have to review and change, and your original plan will likely not stay exactly the same – but trust us when we say it’s always better to have your goals and processes defined ahead of time. What do you want out of this great idea and how are you going to get it? Figure this out before you actually go full steam ahead and try to do it.
- Get the right team on board: Once you have your goals and processes defined, you need to make sure you have the right team on your side to help you get there. You need a team and a company culture that fits in with the strategies you have in mind for execution. Sure, your friend from college may be smart, but if they don’t have the ability to work under pressure, they may not be the right fit for you. Figure out what qualities in an employee you need and focus on them when hiring.
- Set up tracking systems: Once you have your team and strategy it’s time to get the ball rolling, but unless you have tracking in place, you’re not going to have a clear view of whether or not things are going well. What you track will depend on the nature of your business, but you need clearly defined KPI’s and metrics that you should be looking at daily/weekly/monthly to make sure that you’re staying on track with your goals.
- Review: Set times in your schedule to review what you’re doing and how it’s helping you execute your great idea. You may find that your strategy needs to change or you have a member on your team who just isn’t making the cut, but the only way you’re going to find this out is if you sit down, take a step back and look at the whole picture.
With these tips to successful execution, you’ll be on your way to turning your great idea into a successful business in no time. Remember, sometimes it may seem like nothing is going right, but if you recognize that, it’s already a start in the right direction. Don’t be that company that realizes too late when they hit a problem. With proper planning in place and continual re-evaluation, you can catch problems early and turn them around. Now get moving and turn that great idea into more than just a thought. Click here to learn more about successful execution.