By Jonh Castro, Mentor of the 3IE-USM Mentor Network, Founding Partner of ColaboraNet
In the universe of entrepreneurship, the original idea may be the starting point, but success lies in the ability to turn it into a thriving company. This “big idea” trap, where leadership becomes personally attached to the initial conception, has been a common observation in the startups I have supported through mentoring sessions. Although there is great merit in its “discovery,” this is not enough to turn that idea into a successful venture. Why do I say this and what impact does it have, especially on the work team?
It is not about defending the idea and the great solution, it is about solving a problem that affects many people and that they are ultimately willing to pay for that solution. This has already been studied and written, but it is impressive how this behavior is repeated.
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Ideas to overcome this situation in entrepreneurship:
Balanced and multidisciplinary work team: it is essential to have diverse views on the same topic. Whether it is the problem to be solved, the solution, the target customer segment, the commercial strategy, the evolution of the product. In this sense, diverse views will help build this in consensus, which paves the way for a tactical plan that everyone can assume.
Objectives for each team or member that align with the strategy: once this necessary consensus has been generated, each team member assumes their own responsibility in a balanced manner. It means that once the MVP and successive versions have been agreed upon, the task is to sell. The business leader must build the plan to reach customers in the target segment with the solution and the speech. The finance leader must provide the support and the product leader makes the agreed deliveries.
Initial Practice Recommendations from Leaders:
- Clarity in vision: Identify a specific objective to achieve or a problem that needs a solution. Imagine what the finish line looks like and then create smaller goals. This helps people orient themselves and understand how they can contribute every step of the way.
- Always act with curiosity: Once a vision and purpose have been established, leaders must approach the target community or segment with the intention of listening and understanding (or feeling) the context in which they operate.
- Bring the right people to the table: The right person is someone who has credibility and influence, fosters relationships, helps mediate when trust begins to break down, and has the patience and power to drive change.
Ultimately, the success of a venture does not lie solely in the initial idea, but in the team’s ability to carry it out effectively. By cultivating a balanced, multidisciplinary team, aligning goals with strategy, and adopting clear, collaborative leadership practices, entrepreneurs can maximize their chances of success in an increasingly competitive business world.
