Innovation and the ability to turn ideas into action are two key ingredients an entrepreneurial company needs to be successful.
Lots of companies have innovative ideas.
But, how many are able, or are willing to, convert these blueprints into successful products?
In many companies, there is often a total disconnect between conception and execution, particularly in those whose culture doesn’t allow for a rapid connection between the two.
In the truly innovative organisation, cool ideas are quickly recognised as potential opportunities.
For them, it is not all about analysing, qualifying and quantifying.
It is more a case of, “If we build it, will it sell, and if it doesn’t then will we be wiser when the next opportunity presents itself?”
True entrepreneurial organizations are motivated by the urgency to create, execute and deliver.
If they worried about over-quantifying each opportunity, they wouldn’t proceed without commitments.
Instead, they are more likely to say;
“Look, we all like the idea, there are no others like it out there and the risk/reward ratio looks pretty good, so let’s go for it.”
Once the company says “go”, the team never looks back, and moves fast forward with a total commitment.
When it comes to acting on opportunities, it is not about the potential downside.
It is about innovating with urgency, and staying one step ahead of the competition.