Ideas Are Great, But Execution Is The Best. Here's Why
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Entrepreneurs naturally have big dreams and the willingness to follow them. But, they often disregard the details that go along with execution.
Goals are critical, but without understanding what goes into the execution can greatly injure your company. Profitability is such a concept that needs to be considered.
The profitability of an idea is a framework that contains two parts:
Money is a way of creating a measurable goal. Some goals align with giving back, but, in order for you to further any goal you have, you will need money.
The fundamental idea of profit is to determine if and why an idea is worth your time.
If you have to spend more money to gain less, you need to have a great rationale to do it.
Not every opportunity will bring in profit right away. An idea now can mean more profit later on. An early investment in a product can pay off massive dividends down the road.
However, you need to have a well-informed opinion on the timeline as well as how much money you might need to invest until you reach that point.
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These are important to me as I resonate so much with eudaimonic concept of happiness. :)