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Idea vs Execution: which leads you to build great companies like facebook?

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Is a great idea necessary?

Can a great idea turn into a great company without mediocre execution?

Can you really steal an idea?

Cause if I see you are doing something and copy it, why can't you win if you are already doing it? Don't you have a head start?

So then is it execution that puts you over the top?


Thoughts?
 
kayanation said:
Is a great idea necessary?

Can a great idea turn into a great company without mediocre execution?

Can you really steal an idea?

Cause if I see you are doing something and copy it, why can't you win if you are already doing it? Don't you have a head start?

So then is it execution that puts you over the top?


Thoughts?
Click to expand...
nothing happens in a vacuum...

angel investors' & board members' relationships can save a mediocre managed company or an upstart through rigged military or vendor contracts... or the ultimate jack move, a buyout -
A larger company out right buys a startup with a potentially disruptive product
failing that it acquires a failing competitor to the startup - leverages existing partnerships to elevate and expand the reach of the formerly failing company - while pouring in resources to price the startup out of the market

hypothetically lets say 12 or 10 years ago someone wanted to compete with or kill MySpace et al. - investing in FB and leveraging existing relationships at Yahoo, Google, etc to expand the brand's / platform's reach, user base and eventually years later even drive advertisers to FB...

xbox360 vs PS3 - is a great case of a mediocre product and management encroaching on market share and kinda beating an established product with decent management that was a little over confident
or
AOL vs Prodigy, CompuServe etc
or
Yahoo
relationships win out over execution - but overtime execution is how to maintain longevity
 
To create a company like Facebook you need to:

1. Have committed a crime (stealing another's ideas, technology)
2. Been absolved from said crimes.
3. Create a platform that can be utilized by governments and private corporations to spy on and scoop up large amounts of data on private citizens.

By following these three easy steps, you too can create a great company like Facebook.
 
geechiedan said:
you know how many hamburger restaurants there are?

How did 5 guys carve out market share in a world where McDonalds, Burger King, Wendy's etc exist?

clearly original idea isn't that important.

execution is the key
Click to expand...



def
 
black again said:
Screw ideas...I think alotta people assume you have to have some new, revolutionary idea in business., when in fact many are simply an improvement on an existing one.
Execution is the sauce.
Click to expand...


I couldn't have said it better. It's a matter of improving upon a proven idea that makes a product a homerun.

iPhone is a great example and all the phones that have come after it from other companies.

Technology and innovation are meant to be disrupted.
 
Creating a brand beats idea and execution. You may have the right idea and able to execute the plan successfully but not the legacy brand to sustain your product.
Example yahoo vs Google search engine war.
 
ViCiouS said:
access / convenience / ease of use can trump quality
Click to expand...

Someone above mentioned 5 Guys though. They aren't as accessible or convenient as McDonald's, Wendy's, Burger King, etc, the food takes longer to cook (and is more expensive), and their actual restaurants have no ambience at all, but they still were able to expand and grow. I think that was simply due to having better quality burgers and fries.
 
VAiz4hustlaz said:
Someone above mentioned 5 Guys though. They aren't as accessible or convenient as McDonald's, Wendy's, Burger King, etc, the food takes longer to cook (and is more expensive), and their actual restaurants have no ambience at all, but they still were able to expand and grow. I think that was simply due to having better quality burgers and fries.
Click to expand...
5 guys doesn't have the revenue / profits of those companies
 
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WorldEX said:
Creating a brand beats idea and execution. You may have the right idea and able to execute the plan successfully but not the legacy brand to sustain your product.
Example yahoo vs Google search engine war.
Click to expand...
Not necessarily... a brand is determined from the quality and consistency of the good or service. I'm not a tech head but I'd wager google's search engine function was more comprehensive, more secure and faster than yahoo and it didn't hurt that was preinstalled in more computers and such than yahoo. Remember when netscape and foxfire used to dominate?


I keep hearing cats talk about their brand and they just started..you don't have a brand yet you have a product or service looking for are a customer base..case in point..

rsz_big_baller_brand.jpg_2b9e0b0c17ca7677b494f52be2043361


whats the quality of their product? what makes it better than any other name shoe on the market? Is the shoe aesthetically better than the top Nike or Adidas or Under Armor sneaker out now?

Jordans are JORDANS because MJ was a proven elite level professional athlete (even on a bad team like the bulls were in the mid 80s) on a sneaker that already had decent market share by the time they signed him....is it just me or does anyone else notice that BBB and lonzo's hype are rooted squarely in his POTENTIAL rather than anything actual about his professional career?

in other word neither this dude nor his sneaker has actually done anything yet to justify the type of hype they've been generating. Which makes the potential for backlash on that huge..
 
Choosing between the two, execution.

Everyone has ideas, muchbfewer execute.

Timing and capital don't hurt, either.

geechiedan said:
you know how many hamburger restaurants there are?

How did 5 guys carve out market share in a world where McDonalds, Burger King, Wendy's etc exist?

clearly original idea isn't that important.

execution is the key
Click to expand...
About two handfuls, nationally.

Five Guys is in the business of 100% beef burgers, made to order.

The 3 alternatives mentioned are in the business of convenience, started out on the 5 Guys track, and chose to lose their way.

VAiz4hustlaz said:
Someone above mentioned 5 Guys though. They aren't as accessible or convenient as McDonald's, Wendy's, Burger King, etc, the food takes longer to cook (and is more expensive), and their actual restaurants have no ambience at all, but they still were able to expand and grow. I think that was simply due to having better quality burgers and fries.
Click to expand...

Bingo!

Business model wise, it is apples and oranges, even though the end product is the same.
 
Execution >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

A great executor can turn a not so great idea into a winner. Obviously they could do even more with a good idea, and even more with a great one.
 
VAiz4hustlaz said:
Someone above mentioned 5 Guys though. They aren't as accessible or convenient as McDonald's, Wendy's, Burger King, etc, the food takes longer to cook (and is more expensive), and their actual restaurants have no ambience at all, but they still were able to expand and grow. I think that was simply due to having better quality burgers and fries.
Click to expand...
to continue my previous reply
completely different business model- its not "fast food"
They were never in competition with fast food...
5 guys is never about convenience nor speed
the wait time in NYC locations is on par with getting take out food at a restaurant...
They'll never be able to handle the customer volume of a BK McD etc nor should they want to.
Look the price point is set to make a profit on every item they sell
affordable and good food- not fast and convenient food
vs
McD and BK etc are high volume with very short service times (max 5 minutes)
all of their signature sandwiches are loss leaders or at best minimal profit
the beverages fries snacks are the profit centers... high traffic foot or cars is their "thing"
fast affordable and convenient food - not good food

think of this though... every 5 Guys sells the same customer experience
you get to see your fresh food (never frozen) being prepared the way you want it and get a shit load of fries with it

If it was only about quality then I can still get better burgers with less wait from many diners in NYC and a bunch of restaurants... Dominos, LiL Cesars Papa Johns would not have been able to get into NYC 20 years ago, def would have been s.o.l. in hoods like Bay Ridge, College Point, Howard Beach, Levittown etc...

The product can be convenient affordable or it can be good /higher quality - there is a very profitable market for either

Chevy customer is not a Benz customer
but both companies' profits are in the same ball park
 
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For everyone posting about execution... I've noticed you guys are only focusing on consumer products and services

None of you are looking at vendor or enterprise services and products
 
ViCiouS said:
For everyone posting about execution... I've noticed you guys are only focusing on consumer products and services

None of you are looking at vendor or enterprise services and products
Click to expand...


enterprise is a whole other beast
 

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