How much of a start-ups success is inspiration or perspiration?
Many startups are the result of that eureka moment, the great idea that you believe will change the world. Yet by the same token, many successful startups succeed despite not having the best idea, or even being first to market with their idea, instead gaining success by virtue of doing it better.
So, is successful enterprise a matter of inspiration or perspiration?
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According to the book I'm currently reading, "Differentiate or Die", a successful business entirely depends on having enough resources (usually money) to bring the idea to fruition. They say that an idea is not enough.
They go further and say that you don't really need the best idea either, you can succeed with an OK idea and the right resources.
I tend to be a bit of an ideas person (who doesn't have much money) so this isn't really what I wanted to hear. I'm going to say that a successful business does require inspiration by the owner/leader, as long as they can find someone else to cover the perspiration side of it.
I work quite well with my husband (Dave) as we have such different personalities. I start loads of new things (inspiration) and he comes along after and completes many of them (perspiration). You need both. He'd get nowhere without me because he doesn't have the ideas. I'd get nowhere without him because I'd never complete any project and bring it to fruition.
I spoke to Dave about the subject before posting this and he said that inspiration is about vision, not about ideas. He said it doesn't even have to be your own idea, it could be someone else's but you could have the vision to do it better.
Hi Kay,
Interesting post. Of course you have worked out that you need to have a variety of skill sets to make something work and as long as 'your team' have them then you should be ok!
There are many great ideas people who haven't got the ability to implement and there are many good implementers who haven't got the ideas.
To some extent start ups only need to have brilliant ideas if they are trying to be first movers or create something different where they do need to differentiate.
A start up does not have to be a new idea, otherwise there would be no new accountancy firms, dentists, butchers etc.
I guess the balance between inspiration and perspiration will be dependant upon the nature of the start up - new idea, differentiation by changing an existing idea or just a new start in an existing market.
Regards
Ray
Lots of good points there, Ray. I think it might also raise the question of niche marketing. Sure, there are already accountants, butchers and dentists in the marketplace. But then you can ask yourself, "How can I be different? What can I offer that the others don't?"
The "Differentiate or Die" book wasn't that great, but it did raise some questions which are worth exploring. Perhaps I'll get around to talking about some of them here.
I have loads of websites and I started a foodie blog several months ago. That's an area with very fierce competition, but it's what I wanted to do so I wasn't daunted by the prospect. I didn't deliberately think through a differentiation strategy - I'm just me on there, and that's different enough.
There's an awful lot of rubbish out there on the Internet - and more being "created" every day - I think if you can do it better you can possibly rise to the top.
That said, the ROI doesn't agree with that. Effort is often not positively correlated with return. Has anyone else experienced that?
PS: I thought your comment about skill sets was very interesting. Well worth a new topic on its own.
"So, is successful enterprise a matter of inspiration or perspiration?"
I'd say, quite simply, that it boils down to both. A good idea does not alone make a good business. Similarly, working hard, but on a bad idea, will not bring you success either.
Paul