Start-up Success: It’s All in the Execution
By: Karl R. LaPan, President & CEO, Northeast Indiana Innovation Center
You can plan all you want, but if you don’t follow-through then it’s meaningless. Many entrepreneurs suffer from this ailment: They have a great idea but fail in execution.
Success means having the right people and offering exceptional customer value. Companies that know how to find this mix become market leaders. Google is a prime example. It was not the first Internet search provider but the first to find a way to monetize searches.
Here are several tips to take your idea to the next level:
- Be realistic. Plan for peaks and valleys. Learn from your mistakes and always be in improvement mode. Set business goals and milestones, and use metrics to track performance.
- Empower your employees. You have to relinquish some power sometimes to let your business grow. Allow them to make decisions on your behalf. In the event something backfires, use it as a learning opportunity.
- Embrace adaptive strategic conversations. That means listening to your customers and your employees. The customer is not always right but deserves to be heard.
- Plan for the worst. Passion alone will not carry a business through economic downturns, market evolution or customer trend changes. A great business must be intentional & market smart.
- Use technology to your advantage. Are you using the latest tools and processes to be more ‘high tech’ or ‘high touch’? How do you enhance and orchestrate quality customer experiences and interactions?
If you’re feeling in a rut, we might be able to get you back on track. The Innovation Center supports all types of companies, large and small get on the path of innovation and growth. Our services can be customized to fit the needs of any client at any stage. Whether you need us for an hour or a year, at our place or your place, with a state-of-art office environment for credibility and image building or not, individually or with a team, the Innovation Center is here to fuel your growth and success.
The first step is to get in touch with us and let us know what you’re trying to accomplish. We’ll let you know how we can be an adjunct to your management team while you launch, build, grow or scale your company. You’ll be glad you did.
Contact Mike Fritsch, Entrepreneur-in-Residence at (260) 407-1754 or firstname.lastname@example.org for a complimentary coaching session.