Brad Feld is a partner at Foundry (a venture capital firm in Boulder, CO) and co-founder of TechStars. In 2011, he wrote an article for Reuters entitled, “Note to Entrepreneurs: Your Idea Is Not Special”. Since the article is no longer available online, I’ve shared some highlights below.
After playfully mocking entrepreneurs who want experts to sign an NDA just to get their advice, Brad writes about the ones who “get it” and actually succeed:
“The products and their subsequent companies became great because of execution. First, they had to execute on building a great product. Next, they had to execute on building a great business. Finally, they had to execute on scaling, sustaining, and evolving a great business.
It’s awesome when an entrepreneur is obsessed with their idea. Every great product that I’m aware of came from an obsession with an idea, and every great company followed. But for every entrepreneur that shifted their obsession with the idea into an obsession with the execution of the idea, I know many more entrepreneurs who got stuck on the idea, but never focused on building something from it.
Sure they tried, but they didn’t obsess about it, pour all their energy into it, and most importantly get as many great people as they could on the journey with them.
As a venture capitalist, I’m constantly looking for great entrepreneurs who have amazing ideas. But I don’t value the ideas. I value the entrepreneurs’ execution of their ideas.”
We at Brio Business Academy embody this wisdom. We exist to empower entrepreneurs to execute on their ideas. Brio is where the proverbial rubber meets the road.
Perhaps the 2.0 version of Brad Feld’s article should be entitled, “Note to Entrepreneurs: Honor Your Ideas with Incredible Execution”.
Wondering how to execute on your idea? View our courses to get everything you need to make it happen!