Industry Spotlight: Just Do It

Having told you how to think through a new opportunity, we feel a word of caution is in order. When we first started our consulting practice, we were involved with a start-up that had a really innovative idea in the children’s nutrition market. One of the two partners was a great idea person—energetic and enthusiastic with a deep knowledge of the existing (mostly mediocre) nutritional products available at the time. The other partner was a great marketing face for the company and had all sorts of contacts. They actually persuaded some leading athletes of the day to represent their product. But neither of the two had operating experience, and they never pulled the trigger to start production. Every time it looked like it was to time to get underway, the owners had another issue to study. So their great idea, despite the clear market opportunity and great endorsements, never went any further. It was the most frustrating engagement we’ve ever had.

Paralysis by over-analysis meant that years of planning and investors’ money went down the drain because the partners who had control did not execute to make it all happen. Nike had a famous slogan a few years back: “Just Do It.” Ultimately, action is the only path to results.