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\n\t\tOpinions expressed by Entrepreneur contributors are their own.\t<\/p>\n
Back in 1999, there was this company called Webvan<\/a>. They had an idea for an online delivery service \u2014 something so routine for us now, but so revolutionary for that time. They raised over a billion dollars, went public and were bankrupt within two years. Why? Because a brilliant idea \u2260 success.<\/p>\n Sam Walton, who founded Walmart, did not invent the discount store. His idea wasn\u2019t genius or novel, and he openly admitted to copying most of his best approaches from competitors. But he and his team executed better than anyone else, turning a copied idea into the largest retailer on Earth.<\/p>\n \u201cIdeas are easy. Execution is everything,\u201d as John Doerr, the legendary VC behind Google and Amazon, once said. As a founder of a self-improvement app that reached over 1M app downloads in less than two years and helps over 400K users grow every month, I couldn\u2019t agree more. <\/p>\n Despite RiseGuide<\/a> being a completely unique product, we give all the credit to our ability to execute.<\/p>\n Superior execution consistently outperforms a superior concept for a few reasons:<\/p>\n While there is no guaranteed recipe for success, I can surely share what worked and continues working for us.<\/p>\n Your execution can only be as good as the people behind it. A wrong hire is expensive <\/a>\u2014 at least 30% of that person\u2019s first-year pay<\/a>, according to the US Department of Labor\u2019s estimate, and on a small team, it lowers the standard for everyone and kills the culture.<\/p>\n At RiseGuide, our best people come through headhunting and referrals, not inbound applications, because strong people are rarely out looking. We also don\u2019t have HR. Each team has hiring managers who are experienced and understand business context \u2014 they own the hiring process. <\/p>\n However, their decision is not final. The person who needs to fill the seat will never be fully objective. Instead, we bring in one of the co-founders with nothing to gain or lose, so they can judge the candidate with a clear head and say \u201cno\u201d if the fit is wrong \u2014 even if the search has been going on for months.<\/p>\n Once you have a star, give them room. Instead of drawing a perfect org chart and slotting people into boxes, we find strong people and shape the role around what they do best, so they can reach their full potential instead of shrinking to fit a job description.<\/p>\n As Steve Jobs put it, \u201cIt doesn\u2019t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.\u201d<\/p>\n For two peak seasons, I worked as a creative marketer alongside my team: I learned the tools and briefed our creatives. We call it All Hands, Hands On. We don\u2019t have managers in a traditional sense \u2014 everyone gets their hands dirty. Such an approach not only helps managers understand the context and their team better, but also increases overall team morale: When people watch the bar being met by the person who set it, they trust their decision more and execute better.<\/p>\n With Trible, the previous product I co-founded and later helped sell, the first version took about half a year, because instead of building it, we spent far too much time debating over go-to-market strategy, branding and org structure. So now, we move fast. <\/p>\n We launched RiseGuide in about three weeks after the Trible exit, and it took us less than two hours to decide on a brand name and buy the domain. Of course, this only applies to decisions you can reverse, which are most of them. But the few you truly can\u2019t undo are the ones you better contemplate carefully.<\/p>\n Many businesses run on the assumption that everything is a trade-off: quality or speed, growth or customer care. But we don\u2019t accept that. We grow marketing spend without giving up returns, move fast without cutting quality and push revenue without hurting retention. Good enough is never enough.<\/p>\n At the same time, \u201cno trade-offs\u201d is not the same as perfectionism. There is a well-known Pareto principle, which says that roughly 80% of the value comes from 20% of the effort. So, don\u2019t spend 80% of your time on endless polish that steals focus from building something new.<\/p>\n We\u2019d much rather ship a good solution in a few weeks than a bigger one that takes a few months.<\/p>\n Of course, ideas also matter. In the end, people love buying them. But if you want those people to stay with your product and outperform the competition, you need to execute faster and better than anyone on the market.<\/p>\n I would not want you to read the practices in this article as some kind of formula, because they are not. This is what worked for us. There are many ways to build a good business and team culture, and the CEO\u2019s real job is finding the one that suits you and the people around you.<\/p>\n<\/p><\/div>\nWhy brilliant execution beats brilliant ideas<\/h2>\n
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How to ensure winning execution<\/h2>\n
Hire stars<\/h3>\n
Build roles around people<\/h3>\n
Adopt a role-model leadership style<\/h3>\n
Think less, do more<\/h3>\n
Have no trade-offs<\/h3>\n
But don\u2019t chase perfect<\/h3>\n
Final thought<\/h2>\n
Key Takeaways<\/h2>\n
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