Edmonton Business Consultant | Measure Intelligence by Action Not Ideas

Most entrepreneurs drastically underestimate the amount of time it’s going to take to actually test. You. Don’t refine and test the idea.

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Hi, thanks for tuning in for another episode of ASP Sperl. CPA. Today is Edmonton business coach. We’re talking about how you should measure intelligence by action, not ideas. Again, as the MTOR business coach for talking about how you should actually measure intelligence by action and not ideas. I have Michael here with me again. Michael, have you ever met someone says they’re going to do something but never actually does it. Many times they have a good idea, right, but never actually do it right. We’ve probably all done it in our own life. Is it easier? Are Our ideas easier or is action heartbeat? Yeah, it’s, I guess it’s harder to actually take action. It is thanking me. Yeah. I think intrinsically we know it and you’ll, Gary Vaynerchuk says it, he says, ideas are worthless with LD execution and you will 50% of all can. Any business will go out of business in five years.

And the story that we have here is entrepreneurs often incorrectly think that the smartest people way that business, then they start thinking that, you know, some people who are, you know, the diligent doers can’t start a business because they feel they’re not smart enough. And there’s some other people who are so smart and they think that they can’t fail but they don’t do and they, they do fail. Edmonton Business Consultant, so Michael, what are the questions that you know, these business owners should be asking? R and D are ideas. Overrated ideas are 100% over rated. Edmonton Business Consultant, there’s so many ideas out there in so little time and so little action initiative from people. People love ideas. Uh, people hate execution. They’re bad at execution. There’s so many ideas out there. This information age was more ideas out there than you can ever have enough time to execute.

It all comes down to execution. Are people normally drawn to the most effective ideas or get ECS ideas in? Here’s the thing, we have to be honest with ourselves. When you know, a lot of time to warm or drawn to an idea, sometimes we’re not drawn to the effective idea. Sometimes we’re drawn to the one that we perceive is going to be the easiest or the least resistant. So we have to recognize our natural bias to be drawn to the ones that appear easier because they’re not always the most effective. And that tends to be, you know, one of the things that effective entrepreneurs do well is they realize as a, I’m not just gonna choose the easy to implement idea, I’m going to choose the one that’s going to be effective. Are people normally drawn to new ideas? That’s one of the other biases.

So he were drawn to easy ideas and even when we have an idea that works, but generally we’re drawn to a new idea because it’s shiny and it’s new. And we liked change and we liked variety. Edmonton Business Consultant, and you know, we think we’re, we’re stagnating if we’re not always, you know, drawn to that new idea. So we have to recognize those biases of being drawn to easier ideas, not necessarily effective ones. And we have to be drawn towards the fact that we like new ones. Again, not necessarily tried and tested ideas as well. Do people normally give up on an idea or initiative too early? Yeah. Even once you get that idea, you get that effective idea and it’s efficient to implement and you start implementing it. Most entrepreneurs drastically underestimate the amount of time it’s going to take to actually test. We don’t refine and test the idea.

A lot of times when they started executing it, they’re simply just bad and executing it and they blame the idea. They think the idea is broken. You know, I, I can’t generate any leads from online marketing, but their ads suck. They have the wrong keywords in there. The copy is terrible. They don’t have, uh, a no brainer on the website and they just give up way too early. They realize that, you know, it’s not that the idea was bad as their execution was bad and they move on to another idea and execute that one poorly is too. Edmonton Business Consultant, and you know, even if you have that effective idea, it’s going to take far longer for that actually to work then most people would think, I mean we look at our online marketing issues, we tell people in order to build that real sustainable, uh, flow of leads of something that works like that takes like six to 12 months before you start generating real leads.

In any sort of scale in a business, do customers like complex solutions or simple solutions? Customers will tend to like simple solutions. They think simple. They can understand that they know exactly how it’s delivered, they know exactly what they’re getting and then they choose. I want that one. And if you give a customer real complex solution, they don’t quite understand it. They don’t quite know what they’re buying, you know, the, it doesn’t quite make sense to them how that’s going to work. They’re less likely to purchase that complex solution. So I would say that that customers, they really like simple solutions and they’re more likely to buy simple solutions that they can understand and that are intuitively correct from where they’re sitting.

Is it easier to scale a business with simple processes or complex processes? It will be easier to scale that business with simple process rather than complex processes. Because as a business owner, you’re only going to be able to touch so much of the work coming in or out of that company by yourself. You’re going to have to develop systems and train other people to execute those systems. Now, the more complex that you execute that you systems you devise, the longer it’s gonna take to document the procedures around those systems and it’s going to take far longer, uh, to actually train people to execute those systems, even find the personnel who wants to do it. And a lot of employees, they become disengaged because they don’t understand what’s happening if the systems are overly complex. Edmonton Business Consultant, so the idea is to find those real effective, you know, simple solutions to problems that customers can wrap their heads around and it’s easy to document and train people to do it.

Those are the ones that are scalable. Do Business Schools favor over complicated strategies? Business Schools love over complicated strategies. They love, you know, explain a, um, you know, a business strategy in a five page or 10 page paper. And if you try to explain it, uh, a strategy in a customer in a five page or 10 page paper, they’re never even going to read the paper. Um, most of them are never going to read it. Most, you know, busy consumers or even small business owners, they’re not gonna read these, these 10 page papers. So it, you know, business favor, um, business schools, they favor these overcomplicated strategies. But I think the, the market actually favors, you know, the simplistic strategies. And then I believe Warren Buffet has the line on that. How business schools, uh, you know, favor complexity in the business world favors simplicity. Our most good business strategy is boring and simple.

All a lot of really good business strategies are really boring in really simple. I mean, let’s look at customers that people who want more customers for their business and we’d tell them gold gathered more Google reviews and then they gather for Google reviews and then they come back and say, what should I do now? And we tell them, go gather more Google reviews. Uh, they want some brand new shiny more, you know, complex. They want, you know, something even easier to do. Can I automate that? Can I do a click funnel or something like that. And a lot of the good business strategies are super simple. Edmonton Business Consultant, and they think, well, I need to, there’s these hundred general contractors and I’m a sub trade and I want to get in touch with them and I want him to develop some linkedin advertising campaign. And I just said, well, have you tried calling all hundred of them over and over and over and over again?

And they don’t like that strategy because it’s not shiny and new, but it tends to work very, very well. And there’s a lot of good strategies that are like that at a really boring, we have to recognize our natural biases against these strategies. And often they are the strategies that we should be adopting. Do successful entrepreneurs often have the ability to exit cute repetitive tasks? They do. A lot of the successful entrepreneurs, you know, the reason why they’re successful is because they, sal found something that worked. They continue to do it. They didn’t look for an easier way. They didn’t latch on to the latest and greatest idea. You know, they found something, they found that it worked and they did it over and over week after week and month after month and year after year until they have this momentum that no one else in their industry, uh, you know, could catch them on it because they were so good at it and they had this ability to, you know, to execute or manage these repetitive tasks and keeps their teams on these repetitive tasks.

And they, they actually, a lot of times, even if they are looking for a new initiative and they continue to execute these proven strategies and then try new strategies on the side and they either add those new strategies to what’s already working or they only replaced the existing once it’s proven beyond any shadow of a doubt that it’s better. Do Books Smarter, toughen lead to trying to better way rather than executing? Yes. I think sometimes, Edmonton Business Consultant, book smarts can be the detriment of the entrepreneur, uh, because they will continually look for a better way. And all of the time that they spend looking for a better way, we’ll start to increase hinge upon the time that they actually should spend executing. And most of the strategies, both the ones that we have today and the ones that we’re going to find tomorrow, we have to execute them for a considerable amount of time before they even start to work.

So if you’re, if your Edmonton Business Consultant intelligence is always drawn you to find a better way, you are never going to put enough time into a proven way for it actually to gain any traction for, you’re going to switch, you know, to quickly, Edmonton Business Consultant, you know, let’s say an outbound call strategy for example. There’s a lot of, you know, evidence to suggest that you gotta to reach out to these people, you know, five, 10, 15, 20 times before it’s going to be effective. But you simply, you know, discarded after reaching out to them once or twice and move on to something else because it was, you know, new and exciting and more complex. And, uh, you know, I had that Shiny Object Syndrome. So sometimes you’ve got to realize that those books smarts have that natural, uh, inquisitiveness is actually distracting you from actually executing something proven over and over again to yield success. So I think that’s what we have here today. As always, please at the likened subscribe button so we can continue to deliver you tips on how to beat the odds at business and we look forward to any comments that you have so we can respond back and use your Edmonton Business Consultant input for future videos. Thanks very much.