Helping Ordinary People Be Extraordinary With Their Money
Ideas Are a Dime a Dozen
I've managed rental houses for more than
19 years, and an Ebay business for more than 6 years. During the rough times, and believe me, there were rough times, the one thing I've learned is that "ideas" are nothing more than opinions with a slight twist. A good idea is every where and everyone seems to have, what they think, is a good idea, or two.
What made my businesses be profitable and stay afloat was not the ideas, but it was the processes and execution of those processes. Great ideas are, in fact, "great", but what matters more is if you can implement those ideas, and ultimately execute them. I'm not saying that good ideas are a bad thing, and I'm certainly not saying that a good idea is not important. Not at all. What I am saying is that EVERYONE has an idea, so "ideas", in and of themself, is just a glorified opinion until its executed. Yes, an idea precipitates the processes, but there are alot of great ideas still sitting on the cutting room floors in every business.
This blog post is just a reminder to my fellow entrepreneurs to take those good ideas and focus lots of energy on the development of viable workabe processes. You need to become the "Chief Process Engineer" of your business. And If this is not your area of expertise, hire someone to do it. This person needs to be focused on fluid written processes, and monitors the execution of those processes through quantifiable measures. Sounds boring, but this is the driver of your business. Ideas are important, but it's the execution of those ideas that matters most, and that execution happens through processes.
As a landlord, I have a process for tenant pre-screening and screening, a process for advertising empty rentals, and a process for just about every aspect of what I do. As an Ebay business owner, I have a process for shipping, a process for sourcing, a process for listing, etc. And those process have evolved, changed, and become tighter and more efficient over time.
The bottom line is this:
Enjoy and rejoice over the ideas, but focus on the Execution!