Great ideas deserve great start-up companies.
There are a lot of startups with crazy good ideas. Yet only 50% of these startups survive the first 5 years. And often this is not due to the unique ideas, products or services of those startups.
Finding the right strategy and converting it into action is often insufficiently thought through. What do you have to do to implement a strategy quickly is often the difference between success and failure. It often goes wrong there and that is unnecessary.
How do you realize a dream?
- What are the odds?
- What strengths do you need to develop or possess?
- What are the goals and challenges?
- What are the obstacles you have to get around?
- How do you gain insight into the right approach?
The most important thing is to put a good idea into action as soon as possible. Too many good ideas are lost. Especially because the execution and business operations fail to make an idea market ready. And that is actually unnecessary. How do you quickly get from an idea to a concrete and effective action plan that you can use immediately?
Much has already been written about how to achieve a growth strategy. A good article on this is “Strategy for Start-ups” from Harvard Business Review, a not-for-profit, wholly-owned subsidiary of Harvard University. Growth Hacking, a guerrilla marketing tactic, also gives StartUps tools to convert an idea into achieving success quickly. It is a way to quickly and inventively bind as many users as possible and to do that with a minimal investment.
How can startups turn a good idea into action?
In addition to finding a unique concept, product or idea and innovative growth strategy, a good action plan is indispensable to implement that strategy quickly and successfully. In most cases this determines the success or failure of a StartUp.
Once in the implementation phase it becomes difficult, even more difficult. Many consultants, advisers and even venture capitalists are ready to hug the StartUps to death at hefty rates. Young enthusiastic entrepreneurs with fantastic ideas are caught in a web of often well-intentioned interference. This involvement will only lead to an action plan that can be worked with after a lot of effort and a longer period of time. It often leads to unworkable business operations and / or a late introduction. An early demise of a StartUp is looming.
Converting an innovative idea into an action plan is not difficult and it can be done quickly. An action plan that can be started the next day. mPGA is the concrete and effective approach that can be used by start-ups without training. Consultants and advisors will undoubtedly not appreciate this, because it makes them partly redundant.
mPGA: the right approach to quickly turn strategy into action.
Since the 1960s, a SWOT has been used as a means of making strategic analysis. But what good is a strategic analysis without having objectives and a good action plan? A SWOT is a static snapshot and nothing more than that.
What is mPGA? mPGA stands for mission, Power, Goals and Action.
- mission: provide direction and focus.
- Power: look for opportunities and your strength.
- Goals: formulate your goals.
- Action: recognize the obstacles and make an action plan.
mPGA can be seen as SWOT 2.0 and at the same time as an innovative way to get start-ups, smaller and larger companies smoothly and responsibly from thinking mode into action mode. Something to which the original SWOT did not contribute in any way.
What are the most striking benefits of mPGA?
- Direction and focus on innovative idea.
- Looking for strength do you need to be successful.
- Give new energy to StartUps.
- Set clear and achievable goals for the short and long term.
- Identify and remove obstaclesDevelop a concrete action plan.
- Extremely fast.
- Start the next day with execution.
How can StartUps use mPGA to take quick and targeted action?
mPGA takes no more time than a SWOT. The result differs enormously: an analysis (SWOT) versus an analysis, objectives and a concrete action plan (mPGA).
Good tips to take into account before starting a SWOT or mPGA can be found in the article “How StartUps can best use a SWOT analysis” from the Lassonde Entrepreneur Institute. This Utah institution is a hub for students looking to turn their innovative ideas into a StartUp business.
Tips provided in this article are:
- Be Specific.
- Back-Up with Evidence, be realistic.
- Think Competitively.
- Keep Your Mind Open.
The advantage of mPGA is that it does not directly confront you with what cannot be done. In the first phase you combine innovative ideas with the strengths you need to become successful. It is a brainstorming way of working that fits well with the creative phase of a StartUp. You are not distracted by weaknesses or threats. You learn to think from the possibilities that are available and you do not work from limitations. Then you start setting objectives with that result, a set of opportunities and strengths. You actually go from your dream (mission) to clear goals.
The feasibility is widely available in phase 2 of mPGA when identifying obstacles and then drawing up a concrete action plan. Then you are confronted with possible bottlenecks. In an action plan you can convert these obstacles into concrete actions, linked to a time schedule.
You may encounter obstacles that cannot be solved immediately. These are the things you have to work on as a starting entrepreneur. A simple risk analysis can also help in identifying obstacles. Some risks rarely or never occur. The question is whether you should put in a lot of effort.
mPGA can be divided into 2 phases. An analysis of opportunities and strengths (phase 1) ensures that your idea is in place and that you can then (phase 2) tinker with its realization. It does not mix up and gives you the opportunity to look for, for example, a team and the financing necessary for a successful start. And that without compromising your chances.
Do not make the mistake of tinkering with your idea too quickly and thus go back to phase 1. If you encounter obstacles that you cannot immediately avoid, you will have to work on them. It is much better to find solutions for this. Sometimes much more is possible than you initially think. That is what business is all about.
A quick start …
You can use mPGA very successfully in the first steps to get from a good idea to a responsible start with a realistic view for the first months. By repeating phase 2, the realization, after a number of months you can make the StartUp successful step-by-step. mPGA grows with your company, you don’t need anyone for it, it is free to use and has no learning curve for the participants.