A Great Idea or Technology is Not Sufficient for a Great Small Business

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Technology is important, but it is not sufficient for a business to succeed.  Some businesses hardly use technology at all – in the long run, such an approach probably will land them behind their competitors.  Some companies try to do everything with technology, at times to their own detriment.  Likewise, some companies seem to have hardly any great ideas at all – they don’t do anything remarkable, rather they focus on their chosen niche and they execute very well.  Other companies are idea factories, which have more good ideas than they know what to do with – this sounds like a great situation, but in reality, if you’re not careful, you can become distracted by all the opportunities that seem to be everywhere.  In the end, the point is, don’t be overly impressed by flashy technology or ideas – in your own company or in others.  It’s all about results; don’t lose sight of this.  Make use of technology and great ideas wherever they are going to help you achieve your goals, but remember it’s all about the execution – sizzle can only get you so far..

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Paul is a serial entrepreneur, strategic and risk management advisor, marketer, speaker and coach who has dedicated the majority of his career to entrepreneurship, leadership and peak performance. Paul has worked with various entrepreneurial companies in senior management roles and has led the development, review, and selective implementation of several hundred start-up and corporate venture business plans, financial models, and feasibility analyses. He has performed due diligence on and valuation of many potential investment and acquisition candidates. Paul was also the Director of a consulting operation in Wharton Entrepreneurial Programs and holds a Bachelor of Science degree in Economics and an MBA from the Wharton School of the University of Pennsylvania. Paul has lived, worked, learned and traveled extensively in Latin America, Europe, and Asia and speaks and writes English, Portuguese, and Spanish.

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