{"id":394,"date":"2013-02-01T23:43:48","date_gmt":"2013-02-01T23:43:48","guid":{"rendered":"http:\/\/scqa.hult.edu\/en\/news\/hult-labs\/2013\/february\/youve-got-a-great-idea--so-what\/"},"modified":"2022-04-29T10:43:45","modified_gmt":"2022-04-29T09:43:45","slug":"youve-got-a-great-idea-so-what","status":"publish","type":"post","link":"https:\/\/www.hult.edu\/blog\/youve-got-a-great-idea-so-what\/","title":{"rendered":"You’ve Got a Great Idea\u2014So What?"},"content":{"rendered":"

Let\u2019s say you are a superhero. And let\u2019s say that your preternatural ability involves not just absorbing business models and frameworks, but creating new ones. You marvel in their intricacies, and your eyes never glaze over at their (sometimes dense) descriptions, examples, and calculations. You devour their details like nutrients, and you can graph them with an otherworldliness that leaves people breathless. You are the<\/em> ninja-guru-expert of business models and frameworks, A to Z.<\/p>\n

Essentially, what you would be in this scenario is a super human repository of ideas. You would be a seemingly bottomless well of creativity and out of the box thinking. \u201cThat\u2019s great,\u201d some business leaders would say; \u201cvery impressive,\u201d others would say, but inevitably one question would pop up, and again and again: \u201cDo any of these models actually work?\u201d<\/p>\n

This is where your superhero ability confronts its proverbial kryptonite because you simply don\u2019t know. You haven\u2019t put any of them into action.\u00a0 Sure, your brilliant models and frameworks (and knowledge of others) can help with much-needed analysis, strategies, and forecasting. And yes, they serve as mechanisms through which organizations can glean valuable insights not immediately apparent. But key to profitable growth or intelligent innovation is execution. Without actual implementation, an idea has no value.\u00a0 No value, you ask?<\/p>\n

In his blog post \u201cNo One Cares About Your Great Idea<\/a>,\u201d fantasy writer Philip Athans<\/a> provides some advice for novice writers that pretty much serves everyone<\/em>: \u201cIf you have an idea for a novel or a short story (or a video game or an invention, and so on)\u2026so what? I know that sounds rude, even condescending, but I don\u2019t mean to be either of those things. I want you to take that idea and do something with it.\u201d At Hult Labs we\u2019ve heard a similar refrain from business leaders. Ideas, frameworks and models are not enough. Business leaders want results.<\/p>\n

In his post, Athans references Leonardo Da Vinci as an example of a straight up genius who had genius ideas. Probably no one would argue with Athans, given the stacks of notebooks<\/a> Da Vinci left behind, detailing concepts that were the kernels of inventions<\/a> across a variety of fields.<\/p>\n

One idea Da Vinci doodled over (Da Vinci\u2019s doodling is most peoples\u2019 brilliant brainstorming) was that of a \u201cflying machine,\u201d or what eventually became a helicopter. But as Athans points out, \u201cWe know, in fact, that late fifteenth century Italy did not see DaVinciCopters roaring across the skies.\u201d Da Vinci had sketched out a great design, but not a plan for execution to actually produce his flying machine. Of course the technology of the time was not adequate to bear forth the internal combustion engine, which is what it took to get Da Vinci\u2019s sketch on paper up into the air (and for which we can credit Paul Cornu<\/a> and Igor Sikorsky<\/a>).<\/p>\n

Contrast Da Vinci\u2019s hypothetical flying machine to his masterpiece, \u201cThe Last Supper.\u201d Athans asks, what if a rough sketch of the painting had remained in one of Da Vinci\u2019s notebooks? What if the idea of it had merely ended in a failed pitch to a benefactor? As we all know, the idea did not hit a dead end because he \u201cactually painted the thing<\/em>.\u201d Athans bottom line advice to would-be writers: \u201cDo you have a great idea for a novel? Terrific. Don\u2019t send me your pitch. Write the thing.\u201d<\/p>\n

In the business world you may not have as much latitude with your ideas as someone aspiring to write the next fantasy blockbuster, but you will be expected to both contribute creative ideas and see them through (with managerial supervision, of course unless you\u2019ve been instructed to seek forgiveness after the fact).<\/p>\n

Melissa Raffoni\u2019s article \u201cThree Keys to Effective Execution<\/a>,\u201d examines execution when it comes to strategic planning in the workplace. \u201cThe execution phase forces you to translate your broad brush conceptual understanding of your company’s strategy into an intimate familiarity with how it will all happen: who will take on which tasks in what sequence, how long those tasks will take, how much they’ll cost, and how they’ll affect subsequent activities.\u201d<\/p>\n

Raffoni\u2019s first recommendation is to \u201cmaintain your focus.\u201d<\/strong> This can be challenging in office environments where (controlled) chaos is a given. But it\u2019s important to be realistic about the resources required for execution \u2013 while also keeping a steady eye on marketplace needs. \u201cIf you just, focus internally you may miss the boat externally.” Raffoni also advises that a team regularly play devil\u2019s advocate with each other in order to puncture the execution process with reality checks. The second \u201csub\u201d step is to be as simple and clear as possible with the people who are part of driving the actual execution. \u201cAt some point, it becomes more important to make sure that most employees are clear about their role in achieving the most critical 80% of the plan than it is to communicate the remaining 20%.\u201d<\/p>\n

Execution also requires metrics, which can \u201chelp make expectations clear\u201d to everyone involved in the process. Raffoni\u2019s second recommendation is to \u201cdevelop tracking systems that facilitate problem-solving\u201d<\/strong> along the way. She asks, \u201cDoes the measure you are using really tell you whether you\u2019ve accomplished the objective? Does the tracking system you\u2019ve set up to get to the heart of the problem you\u2019re trying to fix?\u201d<\/p>\n

So now imagine you are a superhero, and not only do you have unsurpassed knowledge of all pivotal business models and frameworks, past and present, but you create your own \u2013 and apply them. And in applying them, that\u2019s where the true alchemy of your extraordinary ability lies.\u00a0 From developing the seedling of an idea to the battle of execution, you know how to successfully intertwine creativity and reality. You are a true business superhero.<\/p>\n

Photo courtesy of Fotokiosk Hamburg.<\/a><\/em><\/p>\n

Make the most of what your career has to offer with a Masters in International Business from Hult<\/a>. To learn more, take a look at our blog HBC Part 1: Finding your business idea<\/a>, or give your employability a huge boost with an MBA in international business<\/a>. Download a brochure or get in touch today to find out how Hult can help you to explore everything about the business world, the future, and yourself.<\/p>\n","protected":false},"excerpt":{"rendered":"

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