The world is full of good ideas. Many businesspeople who consider themselves potential entrepreneurs balk at the notion of actually starting a business. They say: “I just need a really good and unique idea.” In fact, much of the literature out there giving advice about how to start a business says that you need to find a “niche”. This means coming up with a brand new idea or at least a new spin on an existing idea.
Lately I have been discovering businesspeople who have turned very plain and unoriginal ideas into a winning business model by simply executing better than the existing competition.
Think of your favorite retail store. Is it your favorite because there is nothing else out there like it? That’s possible. I know I love really cool little stores that are unlike any others. But for the vast majority of my purchases, the actual offerings are pretty ordinary. What sets most of my favorite stores apart are things like:
- friendly and helpful staff
- generous return policies
- signs that are easy-to-read and understand
- appealing environments (sights, sounds, and smells)
Brand new ideas are tough to come up with. But executing brilliantly (no matter what the core idea might be) is even tougher.