In my post, Don’t Allow History To Repeat Itself, I spoke about being able to say no to “once-in-a-lifetime opportunities” because they are more frequent than we realize.
As you add more successes, more projects end up making their way to you and at some point you will have to make decisions on which projects to pursue, which to put on a shelf for later and which to pass up. You will undoubtedly see the potential in each project, but you need to figure out what is required to execute properly:
- Resources needed
- Capital required
- Timeframe for project to generate cash flow
- Return on investment
- Timeline to positive returns
- Benefits to the brand and the company
These are a few of the most important things to consider when selecting projects to pursue. If you can’t execute properly, don’t bother, no matter how great the idea is.
Great ideas are a dime-a-dozen, execution is what matters.