Whats one thing you think or believe that most people on this forum would disagree with?

[eliquid]

Can you elaborate on 1? I agree with you on the rest.

A lot of people believe Execution is everything.

If it is everything, then there is nothing left for anything else.

That means, things like ideas are worthless. It also means other things are worthless too.

I'd rather execute poorly ( or well ) on a great idea, than execute poorly ( or well ) on a bad idea or no idea.

In the end I can also sell my idea and collect royalties ( which does include some execution ), however I can't really sell my execution unless I wanna be paid hourly, which is what I am not trying to do ( hourly pay ).

In summary, I'd rather execute poorly on a great idea and then maybe sell it ( the idea ).. than execute perfectly on a bad idea ( or no idea ) and get nowhere and have to pivot ( which is now a new idea, the pivot ).

In the end, for me, the idea edges out execution. Without a good idea, you really don't have much even if you have execution ( poor or good execution ).

 

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[doster.zach]

A lot of people believe Execution is everything.

I don't think most people here think it is everything.

The emphasis on execution is justified because most people are waiting for the idea that's easy to execute and will make them rich.

I think execution is biggest variable in the success equation, but it is multiplied against your idea.

Anything multiplied by zero is still zero.

Awful Idea (0) but great execution is gonna be an awful result.

Awful execution(0) on a great idea is still going to be an awful result.

 

[Black_Dragon43]

In the end, for me, the idea edges out execution. Without a good idea, you really don't have much even if you have execution ( poor or good execution ).

Love this, not often talked about, and I agree with you.

I am someone who is great on the execution end of things, but not so good on the idea end of things. And I've had friends who were the exact opposite of me, and some of them have already sold businesses for 7-figures +.

It is true that if you just think about ideas and never execute, well, you're never going to get anywhere (obviously), so I think this is where that idea comes from. The image of the entrepreneur in the popular mind is someone who just dreams up new ideas all the time.

However, for people who are real entrepreneurs, I think good ideas are absolutely key. It also ties into other things such as vision and leadership - ie, knowing where you want to go. Execution is useless if you have no clue where to go, or you're putting your ladder up against the wrong wall. It will just make you fail faster.

The emphasis on execution is justified because most people are waiting for the idea that's easy to execute and will make them rich.

I disagree. I think most people who are not real entrepreneurs, and who have never run any sort of business or made any sort of money for themselves outside of a job may be like this... but I doubt any real entrepreneur thinks this.

 

[Guest-5ty5s4]

I don't think most people here think it is everything.

The emphasis on execution is justified because most people are waiting for the idea that's easy to execute and will make them rich.

I think execution is biggest variable in the success equation, but it is multiplied against your idea.

Anything multiplied by zero is still zero.

Awful Idea (0) but great execution is gonna be an awful result.

Awful execution(0) on a great idea is still going to be an awful result.

This for sure.

It's not "everything," it's just the biggest thing. Because without execution, you really don't have anything. Even "selling an idea" (where are all the idea buyers??) requires execution. Most people are lazy and afraid of action.

 

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[doster.zach]

I think most people who are not real entrepreneurs

Exactly. I don't think everyone here is a real entrepreneur.

 

[eliquid]

I don't think most people here think it is everything.

Maybe.

But I wasn't really typing that out for just people here on this forum or only thinking about people here on the forum specifically.

I was answering it as "What do most people".

Meaning even people outside of this forum too.

 

[eliquid]

The emphasis on execution is justified because most people are waiting for the idea that's easy to execute and will make them rich.

Wouldn't this actually justify the idea as a winner over execution?

- If most people are waiting for the idea that's easy to execute and will make them rich... you are saying they are doing nothing now, waiting on an easy idea, and then will execute when it hits them. They are doing nothing now, but will execute when the easy idea comes to them.

But the "easy idea" is actually not there. It's not coming. It's actually a poor idea. Poor if it is so easy. They will execute ( like you said ) once it hits them, but it will be a poor idea to begin with and get nowhere. Now they wasted a lot of time waiting for it, and then wasted a lot of time executing on it, since it was poor.

Now lets say the reverse of what you typed.. and they execute now instead of waiting on this easy idea. They execute and execute and then decide they need to pivot ( new idea ) since this easy idea was a poor one. They do better after the pivot. Why was it? It was because of the pivot ( new idea )! The execution was the same, not more... more than likely. However, the execution on the pivot ( new idea ) is what got them there, not the execution... as more than likely it was the same level of execution as prior.

No one is out there doing NOTHING. Laying in bed just waiting on money to fall in their lap ( I can think of some, yeah but if we are talking business people and entrepreneurs no one is just there as a sad lump on a log doing 0 )

Someone is executing in some way, always. Again, I'm not talking certain classes of people like senior citizens in bad health and entitled kids sponging off mommy and daddy...

However, not everyone has the good "idea" they need.

Someone once before tried to argue this with me on this forum. They related that their Real Estate profession was not anything special ( buy and flip homes, rentals, etc ). And because they executed on an idea that a lot of other people are doing and got rich, that the execution matters more.

I say BS. There are people out here executing poorly on RE and making good money still. Is it billions like Trump, maybe not, but they are doing better than most.

Why is that? Because RE is a GOOD idea. I never said it had to be a unique idea to matter.. I just said a good idea, the idea itself. RE is not a poor idea. RE is a good idea. It is not unique, but the idea doesn't have to be unique.

Most people have confused what I say, when I say the idea matters most, with it being a unique idea. One of kind, special... NO.

No, it just has to be a good idea. RE is a good idea ( most times ). Poor execution on it still makes people wealthy.

Why do you think we have CENTS here on this forum?

CENTS methodology is used for testing the veracity of your business idea or opportunity.

I'd be willing to bet you could execute poorly on a CENTS business and do better than most people, than execute perfectly on a business that fails all CENTS principles. Would there be outliers? Sure.. but I'm willing to bet more would be found on the CENTS side.

 

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[Black_Dragon43]

No, it just has to be a good idea. RE is a good idea ( most times ). Poor execution on it still makes people wealthy.

If you look at what investors spend money on, you'll also see that the idea is really important.

In fact, the one thing that investors care about most from my experience is the idea.

Of course other aspects like execution, team and so on matter, but the idea transcends them.

Why is that? Because as you say good ideas make money a lot more easily than bad ones.

 

[doster.zach]

Wouldn't this actually justify the idea as a winner over execution?

I think because ideas are so widely available, if the idea is that "great" it can be picked up and done better by some one else and your business just proved to others that people wanted what you were selling even though it could be improved.

Someone once before tried to argue this with me on this forum. They related that their Real Estate profession was not anything special ( buy and flip homes, rentals, etc ). And because they executed on an idea that a lot of other people are doing and got rich, that the execution matters more.

I see Real Estate and other high-entry-cost business' as different from the rest of what we are looking to do here. CENTS is meant for someone without millions of dollars.

You're overthinking it.

How difficult is it to start for the AVERAGE PERSON? This is a small business tool for an entrepreneur who wishes to start a small to mid-sized business, it's not a tool for Elon Musk to determine his next business venture.

I think you get to bend the execution rules a little bit when you have that much money. If you only competition is a handful of big fish your execution can be lacking on a great idea.

Why is that? Because RE is a GOOD idea. I never said it had to be a unique idea to matter.. I just said a good idea, the idea itself. RE is not a poor idea. RE is a good idea. It is not unique, but the idea doesn't have to be unique.

It's a good idea in the same respect as the stock market. Real estate only goes up in value because more people buy into it and it holds its value against inflation. RE is a sound idea because its backed by math not because anyone really executes much better than others in the business.

 

[Black_Dragon43]

I think because ideas are so widely available, if the idea is that "great" it can be picked up and done better by some one else and your business just proved to others that people wanted what you were selling even though it could be improved.

If I have a great idea, how will YOU pick up on it? That’s right, you won’t, except when I execute it, by which point you’re probably too late to the show. You only hear of great ideas when they’re executed… think of Tesla

Great ideas are not abundant, if they were, they wouldn’t be great ideas and they’d just be common knowledge.

It is possible to get a better idea from a good idea (Facebook vs MySpace), but if you look at industries historically, the first good idea that got into the minds of consumers usually won. Look at Bitcoin. Look at Coca Cola. Look at Heinz. And so on.

It’s a huge advantage to be first… not unbeatable, but significant. Better execution will not be enough to dethrone you. There are several cryptos that have executed much better than Bitcoin… and yet they don’t stand a chance to dethrone Bitcoin. Because Bitcoin owns the number 1 position in people’s minds. A good book on this is Positioning, by Al Ries and Jack Trout.

Think of Tesla. You may think, bleh, electric vehicles, they weren’t the first to have that idea. Except that the great idea wasn’t electric vehicles… it was building a cool, sexy car that is driven by software that also happens to be electric. That was new and revolutionary. A big idea. Elon got millions to execute with based on ideas, back when the execution wasnt anywhere near to being profitable at all…

Other car companies that have been in the market for 100+ years… why don’t they beat Tesla to the game and execute better? They are certainly in a stronger position to execute better given their experience… it’s because being the “me-too” product will never be the same as being first.

 

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[Antifragile]

I see Real Estate and other high-entry-cost business' as different from the rest of what we are looking to do here. CENTS is meant for someone without millions of dollars.

LOL. What does the letter E stand for in CENTS?

 

[Guest-5ty5s4]

LOL. What does the letter E stand for in CENTS?

Right?

I was literally on a gold thread earlier where someone pointed out that being a doctor pays a lot of money because of two kinds of entry:

Knowledge (10+ years of education)
Cost (hundreds of thousands of dollars)

Yes, financial barriers to entry help you on your path to CENTS.

Obviously if you are on a meager budget that's not going to be your angle, unless leveraging loans, investors, and more.

 

[OleksiyRybakov]

Think of Tesla. You may think, bleh, electric vehicles, they weren’t the first to have that idea.

 

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[Roli]

Haha, I actually think most of the forum members agree with this. I certainly do, it's one of the top 3 books I recommend to beginners. Though I do see your point, there are some vocal opponents around

Mine is: you don't need to be a great businessman to be a great business coach

I can't stand that book, it bizarrely reminds me of Catcher In The Rye, maybe it's because I'm not American but it was like reading about life on an alien world to which I will never visit.

 

[BlackMagician]

I can't stand that book, it bizarrely reminds me of Catcher In The Rye, maybe it's because I'm not American but it was like reading about life on an alien world to which I will never visit.

It was my first book on Self help.
After so many years, I think that book is all about 'think'.

Think and you will grow rich. Ofcourse some good anecdotes are there but 'thinking' is the main agenda that takes you nowhere.

 

[Mattie]

I can't stand that book, it bizarrely reminds me of Catcher In The Rye, maybe it's because I'm not American but it was like reading about life on an alien world to which I will never visit.

2021 seems to have a lot of new rides to space. Are you sure you won't be able to visit in the future?

 

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[executivepickle]

Haha, I actually think most of the forum members agree with this. I certainly do, it's one of the top 3 books I recommend to beginners. Though I do see your point, there are some vocal opponents around

Mine is: you don't need to be a great businessman to be a great business coach

What other two books would you also recommend?

 

[Black_Dragon43]

What other two books would you also recommend?

My top 20 is public on my discord server (see my signature, I think it only shows up from Desktop/iPad or landscape view on phones)

The other two in this case would be:
2) Arnold: The Education of a Bodybuilder by Arnold Schwarzenegger
Highly motivational, shows the value of the principles of think and grow rich in action. Arnold's desire, faith, self-belief and visualization took him to the very top. A very insightful read into the mindset success requires.
3) The Way To Will Power by Henry Hazlitt
This book changed my life most recently. I read it in 2021, and it got me into journalling & planning by making me understand how desire works. Willpower is just keeping our long-term desire in mind, and reminding ourselves of it (journalling helps massively to remind yourself). And before you are faced by your short-term desires, you need to be AWARE of the price you have to pay to give them up in favor of your long-term desire, and BE WILLING to pay that price. In advance! Before the short-term desire punches you in the face. And if you're prepared to pay the price, and you remind yourself of your long term desire, then you can OVERCOME your short term desire and be successful. An AMAZING read

 

[Kevin88660]

A lot of people believe Execution is everything.

If it is everything, then there is nothing left for anything else.

That means, things like ideas are worthless. It also means other things are worthless too.

I'd rather execute poorly ( or well ) on a great idea, than execute poorly ( or well ) on a bad idea or no idea.

In the end I can also sell my idea and collect royalties ( which does include some execution ), however I can't really sell my execution unless I wanna be paid hourly, which is what I am not trying to do ( hourly pay ).

In summary, I'd rather execute poorly on a great idea and then maybe sell it ( the idea ).. than execute perfectly on a bad idea ( or no idea ) and get nowhere and have to pivot ( which is now a new idea, the pivot ).

In the end, for me, the idea edges out execution. Without a good idea, you really don't have much even if you have execution ( poor or good execution ).

I take the view that the speed of execution is everything.

Ideas are often overrated because with experience you can recognize bad ideas but most good ideas are going to fail anyway, most likely due to factors outside your control.

The faster you are done with necessary failures and sooner you are closer to an accidental success.

Most good ideas are only good on paper and “really good ideas” are only discovered with hindsight.

 

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[Kevin88660]

Peter Thiel has a favourite job interview question that goes like:

“What important truth do very few people agree with you on?”



Now for the forum version...

"What's one thing you think or believe that most people on this forum would disagree with?"

1) Belief in external locust of control does not necessarily comes into conflict with working hard to achieve your best outcome. A fragment from a random blast can kill the best soldier in the world, but having confidence in yourself is a prerequisite in war survival. Vulnerability and Resilience are not mutually exclusive.

2) We believe in political ideologies that best benefit ourselves.

3) Losing control at the start of a business (tied to a platform is not necessarily a bad thing and sometimes essential. If you pledge alliance to no one then no one will help you. When you are weak and just starting out on the street you need to join a gang first.

4) Problem solving mindset is overrated and so does the sentence “if you help people to solve problem money will follow.” Money most of time do not follow. People can thank you, appreciate you for helping them but remember people ONLY PAY for a few things in the world. You have to do things people care enough to pay for.

5) Jumping with a herd into a competitive market is often not a bad thing and often much better than trying to go to an obscure or traditional market trying to escape competition. At least the competitive market has a proven hot need and demand, and most of the time markets that no one tries to serve are really shitty market to begin with.

 

[eliquid]

I take the view that the speed of execution is everything.

Ideas are often overrated because with experience you can recognize bad ideas but most good ideas are going to fail anyway, most likely due to factors outside your control.

The faster you are done with necessary failures and sooner you are closer to an accidental success.

Most good ideas are only good on paper and “really good ideas” are only discovered with hindsight.

The problem I see with people who favor execution ( not saying you, but pointing it out in general ), is that they love to talk about "good ideas" vs "bad ideas" and the whole idea that ideas are overrated because everyone has them, etc.

But they fail to ever distinguish "bad execution" vs "good execution" in their arguement. It's almost like they don't talk about that at all and leave it out on purpose, as any execution is good, even if poor/bad. Like only ideas can be "bad" or "good" and execution gets this free pass.

Again, not saying you said this or think this. Im writing this mainly for others on this forum.

This is my whole point though. Execution is not everything.

Ideas count for something. Poor execution counts for something. Most people leave all this out.

But I'm not going to execute greatly on a poor idea. That's wasting my time and will mean I will need to pivot potentially in the future. Meaning, I need a better "idea" to begin with

I'd rather execute poorly on a great idea, and hire in people when needed to execute for me better than maybe what I did.

I can also license and sell my idea. Something you can't really do with execution alone unless you're a W-2

 

[Guest-5ty5s4]

The problem I see with people who favor execution ( not saying you, but pointing it out in general ), is that they love to talk about "good ideas" vs "bad ideas" and the whole idea that ideas are overrated because everyone has them, etc.

But they fail to ever distinguish "bad execution" vs "good execution" in their arguement. It's almost like they don't talk about that at all and leave it out on purpose, as any execution is good, even if poor/bad. Like only ideas can be "bad" or "good" and execution gets this free pass.

Again, not saying you said this or think this. Im writing this mainly for others on this forum.

This is my whole point though. Execution is not everything.

Ideas count for something. Poor execution counts for something. Most people leave all this out.

But I'm not going to execute greatly on a poor idea. That's wasting my time and will mean I will need to pivot potentially in the future.

I'd rather execute poorly on a great idea, and hire in people when needed to execute for me better than maybe what I did.

I can also license and sell my idea. Something you can't really do with execution alone unless you're a W-2

Why are we debating when we could be executing?

Sorry, couldn't resist.

 

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[Antifragile]

One more...

There is a big difference between looking successful and being successful. And most people focus on looking successful. Including on this forum.

 

[becks22]

One more...

There is a big difference between looking successful and being successful. And most people focus on looking successful. Including on this forum.

Yes people can talk the talk online but in real like can they walk the walk?

 

[Andy Black]

I’m a fan of getting out of our own way and moving fast, but I’m starting to really dislike the line:

“Done is better than perfect.”

It seems many use it as an excuse to not make a product that genuinely serves people, never mind one that’s remarkable.

 

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[Guest-5ty5s4]

The term “processed food” is so vague and undefined as to be almost meaningless.

 

[Kevin88660]

The problem I see with people who favor execution ( not saying you, but pointing it out in general ), is that they love to talk about "good ideas" vs "bad ideas" and the whole idea that ideas are overrated because everyone has them, etc.

But they fail to ever distinguish "bad execution" vs "good execution" in their arguement. It's almost like they don't talk about that at all and leave it out on purpose, as any execution is good, even if poor/bad. Like only ideas can be "bad" or "good" and execution gets this free pass.

Again, not saying you said this or think this. Im writing this mainly for others on this forum.

This is my whole point though. Execution is not everything.

Ideas count for something. Poor execution counts for something. Most people leave all this out.

But I'm not going to execute greatly on a poor idea. That's wasting my time and will mean I will need to pivot potentially in the future.

I'd rather execute poorly on a great idea, and hire in people when needed to execute for me better than maybe what I did.

I can also license and sell my idea. Something you can't really do with execution alone unless you're a W-2

I totally agree that a really good idea requires no great execution.

It becomes a good test at the start to see if an idea is really good. If you get sales easily from mediocre execution (compared to your previous projects) it is an extremely good signal.

 

[missinfinity98]

That this thread developed to be used to pop each other "bubbles" and it got actually quite boring and predictible. It shows a big Babel Tower - are familiar with what that means? Edit:

 

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[ohmamecr]

IF YOU ASK It to everyone what their passion is and would they prefer to fulfill their passion or have a business around their passion, 100% would choose the business except footballers and athletes in general and jobs that require physical

 

[ohmamecr]

Algunos que me vinieron a la mente primero (ya puedo imaginarme a algunos miembros del foro en desacuerdo con vehemencia, jajaja):

1. La pereza es esencial para el éxito en la vida (no solo el éxito monetario). Los tipos que nunca parecen hacer nada son los que finalmente obtienen más (y seguro que disfrutan más de sus vidas).

2. Si no necesita empleados en absoluto, no los contrate (idealmente nunca). Ser un jefe es como ser un empleado o un padre.

3. Está bien ganar todo lo que necesite para vivir su estilo de vida ideal (incluso si son solo $ 2000 al mes en ingresos pasivos) y luego pasar a una vida no comercial (no es necesario crear empresas más grandes para el resto de tu vida).

4. Si siempre está muy ocupado en su negocio, está haciendo las cosas mal. Ningún negocio vale la pena perder todo su tiempo libre.

5. El trabajo duro es la forma más utilizada y menos eficaz de hacer crecer un negocio. Todo tonto puede trabajar duro. Pocos son lo suficientemente creativos como para ver una forma novedosa de hacer algo más fácilmente (se relaciona con el n. ° 1).

6. HAY atajos y secretos para facilitar las cosas (en una medida realista, no estoy hablando de convertirme en millonario en un año). Pero es más sexy para los gurús de los negocios presumir de lo duro que trabajaron y de que no hay atajos (la llamada "pornografía ajetreada").

This is facts