8/7/13 – Stories from the Field: This guest post is written by David Hunt, the Co-Founder of The Wild Gym Company, and student in the Global Social and Sustainable Enterprise MBA as well as a member of the CSU Hatchery.
Our quickly disappearing summer has been a whirlwind lesson in the application of the 80/20 rule. The start of the break found us enjoying a constant stream of ideas ping ponging between me and my partner. However, the delight of the stream quickly wore thin as we saw the effect on our business when our exciting ideas overshadowed our execution; our progress, our morale, and our edge in the market was in danger of diminishing as those ideas drained valuable time and resources. It didn’t take us long to pivot our priorities to 80% execution and 20% ideas. Our discovery was that the rush from quantifiable accomplishment thanks to effective execution far outshines the allure of new ideas. Plus, our progress has rallied excited investors around our concepts, and we find ourselves drawing closer and closer to pitching to angels groups eager to hear us out.
While this pivot from ideas to execution has streamlined our growth and energy, it hasn’t lessened the ever-growing projects to tackle as summer comes to a close and deadlines fast approach. While we still can’t see when we’ll be able to come above water to take a breath, we do know that we’re doing our best to make each day count. One of our mentors, Rick Turley, a professor in the GSSE MBA, has taught us that even if new ideas are good and potentially viable, in order to start a company you have to pick the best one and execute. Nothing could be closer to the truth for us, as we prepare for when the theory ends and reality begins in the marketplace for our fledgling company.