My take is that ideas need to be proven and that proving them doesn’t require execution skills as much as a twisted mind that looks for ideas and alternatives. Once proven the team executing is most probably not the twisted mind kind but the perseverant logical one. Thanks Alex for the great post.
According to mainstream business principles, execution of a plan is exponentially more valuable than the idea behind the project. This concept can be explained by asking, “Would you bet on a jockey or a horse?” When evaluating investment alternatives, one should put greater weight on the team running the organization than their actual product.
Indeed, in my experience, investment decisions based on the perceived value of the merchandise instead of the executive team, lead to results that this finance PhD is too ashamed to discuss. The concept seems both simple and intuitive. While paving a road to success, hard work, smart thinking, and diligent planning are crucial building blocks.
Though I understand the importance of pragmatic execution, it troubles me that arguments for its value involve attesting to the worthlessness of naked ideas. To me, this is the chicken or the egg argument, but with an answer. Simply put, without…
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