Execution and idea in Frontierland

It’s commonly held, and pretty much true, that ideas are shallow and execution is depth. That is, the former is nothing without lots and lots of the latter.

Let’s set aside how “execution over ideas” is used as a bludgeon for a moment. I think there’s possibly a case where “execution AND idea” is a viable recipe for success.

If you’re in a Wild West, converting the minimal version of the idea to an executed offering can be all you need to succeed. Temporarily.

If you’re always moving from emerging market to emerging market, you’re betting not on your ability to execute, but your ability to identify the next market. You’re OK with fast followers building on your idea, iterating on it, and establishing themselves as the market matures. That’s OK, because you’ve already moved on to the next market.

So the risk here isn’t execution, but idea/market selection. When you’re first, it’s slightly OK to ship with a product that will be viewed as laughable once the market is mature. 75% idea, 25% execution.

When you’re second, seventh, or seventeenth, you had better execute on the idea, the business, and the culture you build. It’s 95% execution, 5% idea.

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