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Execution is vital for small business

Frustrated entrepreneurs often ask why potential investors or prospective employees are not interested in funding or joining their company. The business idea sounds so good, why would anyone turn down an opportunity to be involved?

It may not be an investor’s lack of belief in the idea, but a fundamental concern about the ability of the company and its team to execute the plan. In the world of retailing, many professionals believe that it’s all about "location, location and location." Likewise, when starting a business it often comes down to "execution, execution and execution."

The plan to execute successfully depends upon a balance among several important components of your business model. Many feel that the most important variable in executing the business idea is the team, followed by the marketing, operating and financing plans.

By Gary Williams
Brigham Young University

Full Story: http://deseretnews.com/dn/view/0,1249,600126515,00.html

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