Ideas in Action

A switched on team of senior management makes all the difference. No matter which part of the world, and how unfamiliar the concepts are – an interactive team will always find how to use ideas for their business. I recently had the pleasure of interacting with the chairman and top management team of one of the most strategic companies in Asia.  The healthy discussion and the response proved the power of ideas to me once again. Was also pleased to be presented the Chairman’s award. Thank you. Vivek sood receiving the award You can see a gist of ideas I presented on my book “The 5 Star Business Network”.


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Notes:

  1. These ideas and concepts will be usually expressed by our thought leaders in multiple forums - conferences, speeches, books, reports, workshops, videos and training. The date shown above the article refers to the day when this website was last reformatted. This blog post or article may have been written anytime prior to that date. 
  2. All anecdotes are based on true stories to highlight the key points of the article - some details are changed to protect identification of the parties involved. 
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Vivek Sood

MORE INTERESTING READING
    • So, you want to be an entrepreneur… To be successful as an entrepreneur, you must act like an entrepreneur. The number 1 consistent trait of successful entrepreneurs is passion; without it, the probability of success is so low that it probably isn’t worth the effort. Other important traits include: articulating the plan and being resourceful.

    • I’ll give you my insights as an experienced entrepreneur :

      1. Ideas are worth nothing
      2. Only how you execute your idea matter
      3. You need to start now, and see if your idea is working in real life world (HINT : it won’t. Then you’ll be like WTF I thought it was a great idea… And that’s where real entrepreneurship really start).
      4. You will hit A LOT of obstacles from what’s in your mind to realization, so the best is you start your project right now.
      5. Write a business plan, they help. So you understand where you’re good at and where you suck. So you have a chance to improve where you suck (find partners…)
      6. Don’t spend any money ($500 is ok, not more). Before you have experience as an entrepreneur you will end up ruining yourself.
      7. Aim at building skills. It’s not about the money it’s about how you build the skills to make money. Yes it’s a skill. Yes it’s learnable. It will take you 5–10 years to learn it.
      8. The sooner you start, the faster you learn
      9. Did I say you needed to start your project ?
      10. What are you waiting for ???

    • Uff… OK where to start?

      Before I get into any kind of detail or advice, let me start by saying: ideas are lying around everywhere. But a) there are infinitely more bad ideas than good ones. So the art is to be able to discover good ones. Few people have the required industry knowledge, experience and vision to do so. Otherwise how do you explain that 7/10 funded startups fail? I’m not talking about startups without money (failure rate >95%). I’m talking about those who were able to convince professional investors to put their money down. So, just because you think your idea is great, it really really really doesn’t mean it is.

      That being said, let’s assume you indeed have a great idea. Thats why B) counts even more. What’s B you ask? Execution. The execution of your idea is worth so much more than your idea alone. If you go to an investor with an idea but no proof of concept you get a kick in the ass. If you go there with a proven idea but no/bad execution you get a bad multiple for your round. But if you show up there with a great (proven) idea and excellent execution you are onto something.

    • the question itself shows that you are not even remotely ready. My recommendation would be to start a lemonade stand or a lawn business and see all the skills that are required to run a profitable business.

    • 1. Check to see if someone else is already doing your business. This establishes if there is a need for your product or service and what the cost will be.
      2. Look for product reviews of your competition and see what folks are complaining about. Then offer the solution as a Unique Selling Point this will be your Value Position.

  • Simply if we talk about Ideas In Action is the vision of Ideas in Action is to support and turn innovative ideas or research ideas into actionable research outcomes that can directly benefit the community.

    Anyway, Mr. Sood you are doing a great job in innovating supply chain globally really a positive thinking attitude that you have is such an inspiration for us keep up doing the great work.

  • Firstly, I congratulate Mr. Sood for the award. it is such a great pleasure that you in the field of the supply chain has won many awards.

    I thoroughly went over the list of ideas in your 5-star business network book all are amazing to read. Keep up doing the great work, Mr. Sood

  • Congrats Vivek to win an award! I would prefer to read this book which shows your Ideas into action. I hope I’ll learn something from it because I’m working on a new Innovation Idea for my company.

  • The successful exploitation of new ideas is crucial to a business being able to improve its processes, bring new and improved products and services to market, increase its efficiency and, most importantly, improve its profitability. Marketplaces, whether local, regional, national or global, are becoming highly competitive. Competition has increased as a result of wider access to new technologies and the increased trading and knowledge-sharing opportunities offered by the Internet.

  • The benefits of being innovative idea generator in the way you startup, grow and develop your business far outweigh the benefits you’ll enjoy by simply copying someone else’s idea, or model. As an entrepreneurial network, we need to respect original ideas, business processes, and market concepts and so on. If we don’t we leave ourselves wide open to being spanked ourselves – probably when we’re doing well, and it’s really going to sting!

  • Innovative ideas refer to creating more effective processes, products, and ideas. For a business, it could mean implementing new ideas, improving services or creating dynamic products. It can act as a catalyst that can make your business grow and can help you adapt in the marketplace. By innovative business ideas, I mean changing your business model and making changes in the existing environment to deliver better products or services.

  • Successful and innovative ideas should be a part of your business strategy and structure, where you can create a culture of generating innovative and fresh business ideas and make a way for creative thinking. It can also increase the likelihood of your business succeeding and can create more efficient processes and ideas that can result in better productivity and performance.

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