What is the foundation of a successful business? Sound idea or sound management?

[Min George]

When it comes to the core principle that makes for success in entrepreneurship pursuits, which is more important between a solid idea and a solid management? To choose one, which one has to be the strongest attributes for a business succeed?

 

[eLdavis]

I think it has to be a mixture of both, having a sound idea with and proper management. Sound ideas without proper management is useless, and proper management without sound idea won't make sense as well.

 

[Augusta]

A sound business idea because it would fulfill a customer need, have a clear focus, be innovative, unique, sustainable, and profitable long-term.

 

[kit_hung]

When it comes to the core principle that makes for success in entrepreneurship pursuits, which is more important between a solid idea and a solid management? To choose one, which one has to be the strongest attributes for a business succeed?

Your question is serious and very basic. A good idea is a good start, but without strong management, even the best idea can fade. Good management brings direction, discipline, and the ability to face challenges.

An exciting event concerns the company Apple. Although Steve Jobs had unique ideas, Apple's success came from careful management and a team that knew how to execute effectively. An idea is a seed, but management is the soil that nourishes it.

Therefore, if you have to choose, strong management is the main pillar of business success. Without it, even a compelling idea can be lost.

 

[King Belieal]

Sound and strategic management can turn even the most useless business ideas to become multi million business empires.

 

[Springtime]

I think you need both for the business to succeed. Without a good business idea, the company does not have good offering to the target audience. But if you just have a good idea, and do not run the business properly, the business will also fail.

 

[Starmix]

Both are the keys for a business to grow. A sound mind is essential to have a sound management of the business owner. A sound mind can create strategic plans, thus, making the business strong and gaining. There's a correlation between a sound mind and a sound management.

 

[Augusta]

You need the two but I think sound idea needs to be considered more as management comes later