Proof that execution is more important than the idea

[jcfavela]

I recently stumbled upon an entrepreneur speaking class where the co-founder of LegalZoom.com mentioned that execution is more important than the idea. He mentioned that he knows someone who started diapers.com in 2005. In 2009, it had revenues of $182.5 million and was listed as an Inc 500 company. Of course, it is operated under Quidsi LLC, which owns 2 or 3 other websites like soap.com. But it is mind-boggling that all that is being sold is baby care products. The idea isn't even revolutionary.

He went on to mention that there are few companies that succeed that have great ideas only. The best thing is to have a good to great idea where there's a large market.

How do y'all supposed he differentiated himself?

 

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[JEdwards]

The idea isn't even revolutionary. How do y'all supposed he differentiated himself?

He realized that the idea and product does not need to be revolutionary, just packaged in a different way.

Everything old is new again, some people on here search for that new thing, that thing that will change everything, without realizing simply these facts... Everyone needs shoes, everyone needs pants, everyone needs a cell phone, etc..

You know how many monster companies that retailed clothes has closed down, just for a company like Kohls to go almost in the same location and kill?

 

[458]

He realized that the idea and product does not need to be revolutionary, just packaged in a different way.

Everything old is new again, some people on here search for that new thing, that thing that will change everything, without realizing simply these facts... Everyone needs shoes, everyone needs pants, everyone needs a cell phone, etc..

You know how many monster companies that retailed clothes has closed down, just for a company like Kohls to go almost in the same location and kill?

Mervyns comes to mind.

 

[jcfavela]

So you think people will go to a store simply because of its "newness"?

 

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[Dezzamondo]

So you think people will go to a store simply because of its "newness"?

If they can hit the market right then yes. Why have the same old stuff you've had for years, if you can something brand new and shiny (even if it is the same as the old stuff!)

Case in point, locally we have all sorts of fast food "restaurants" from the golden arches to generic fried chicken, no KFC in the history of the city. A few years ago, a KFC was built a couple of MILES out of the city centre, but they marketed the hell out of it. The result, they ran out of chicken within an hour (or less) of opening for the first time and continued selling out to HUGE queues for almost a month!

New might not have anything that any other business cant offer, but if it fulfils a need (the people wanted one!), it probably can't hurt!

 

[Dezzamondo]

Sorry, woke up this morning and remembered this...

 

[ColtonJD91]

So you think people will go to a store simply because of its "newness"?

Absolutely! New companies with a uniqueness succeed all the time! Old companies continually reinvent themselves to meet a new generation or market. Think Pepsi, Best Buy, Even recent companies like Netflix (Adding streaming to a DVD service), all going through huge new marketing campaigns to apply to a new crowd. Another good example I just noticed today is McDonald's. Here in Reno they completely revised the drive through layout. It looks trendy, hip, and the caloric value of their meals is ON THE MENU! Lol. I think it's an awful idea but I'm curious how ya'll think it will play out?

 

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[PatrickP]

How what will play out? McD putting the calories on the menu?

They are being required to do that by the ever helpful govt who is doing all they can to help businesses succeed. NOT

 

[Jonleehacker]

A great book for creating differentiation is Blue Ocean Strategy, oh and I just read that McDonalds opened its very first vegetarian restaurant today (in India )

 

[healthstatus]

in the diapers.com example, their "location" is what made the difference. Used to be, to a large degree, if you had the exact keyword match on the domain, and the search engine thought you had/serviced that keyword, you were #1. Lots of people search "diapers".

 

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[Ãœbertreffen]

in the diapers.com example, their "location" is what made the difference. Used to be, to a large degree, if you had the exact keyword match on the domain, and the search engine thought you had/serviced that keyword, you were #1. Lots of people search "diapers".

In addition, the countless number of people who will just type what they're looking for into the address bar. In this case if they're looking for diapers, they'd just type diapers.com and be done with it.



- Devin

 

[ColtonJD91]

How what will play out? McD putting the calories on the menu?

They are being required to do that by the ever helpful govt who is doing all they can to help businesses succeed. NOT

Opp! Pardon my ignorance. That explains everything

 

[crlerk]

I read an old post by Derek Sievers last week that sums ideas and execution really good, I think.

Read it: Ideas are just a multiplier of execution

- Carl-Erik

 

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[NormanAvila]

I support that execution is more important than the idea. Of course, in a more sophisticated (or not) context.

Simply, I have seen people with great ideas closing their businesses weeks after having them opened. These were all in need of a good execution or "packaging" as mentioned before, but they failed to do that. Execution is what brings your idea to life: the sales system, your revenues, the marketing approach, business partners (if needed), special advertisement techniques etc.

 

[Vigilante]

diapers.com is a shit business model

 

[XavierYZ]

diapers.com is a shit business model

And there customers are a bunch of cry babies

 

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