After listening and working with hundreds of entrepreneurs, I have heard many focused only on their next million-dollar idea, but very few make any money from an idea alone. On the other end of the spectrum, others focus totally on building a product, assuming a great product will assure financial success. Both groups are missing the essence of an entrepreneur — the business focus.
A focus on business execution certainly includes selecting the right idea and developing a marketable solution, but it also requires selecting a viable target market, attracting customers, winning against competition and delivering a value proposition which is attractive to customers as well as the business. Most importantly, it requires the discipline to integrate all of these.
In my experience, there are several key elements to this discipline, which always include the following.