A good idea means very little

Most businesses fail. Far more never get off the ground.

Most businesses fail. Far more never get off the ground.

Sara Blakely, the legendary founder of Spanx, got her idea when she cut the feet off a set of control top pantyhose so that she could wear a pair of tight white pants without showing panty lines.

She wasn’t the first women to do this.

Sara Blakely is now worth over $1.1 billion, while all the women who cut the feet off their pantyhose before her are worth a fraction of that.

Having a good idea doesn’t mean that you have a good business. What matters is your ability to execute on that idea and turn it into profit.