By Sébastien Boyer
All budding entrepreneurs need to learn the language of business. There are many terms that are unfamiliar to those on the outside. Examples include terms like acqui-hire, angel, deck, and scalability to name a few. However, there is one word that is universally understood: "DONE!"
It has a nice ring, and it rolls glibly off the tongue. Business plan … done! Market analysis … done! That simple four-letter 
word “done” just sounds grand, doesn’t it?
A Product of Execution
Getting things done is the product of execution. Execution is defined as the difficult work that takes place from the moment an idea or concept is born -- existing as little more than a dream -- to the point it blossoms into a successful business enterprise.
An idea, in and of itself, is not an uncommon occurrence. All of us have ideas, but what separates successful entrepreneurs from the rest of the population is execution. Execution is at the heart of every entrepreneurial success story.
Maybe you think the phonograph was Thomas Edison’s idea or that Samuel Morse thought of the telegraph. You couldn’t be more wrong. Take a moment to read this short history of the telegraph and you’ll understand my point immediately. Everyone has ideas and some people are visionaries, but those history recalls are the ones who bring the idea to fruition; that is to say, the entrepreneur who succeeds in converting the idea into a successful product or service, like the venerable Samuel Morse.
This raises the question of how famous entrepreneurs like Bill Hewlett and Dave Packard of Hewlett-Packard fame, and Steve Jobs and Steve Wozniak of the ubiquitous Apple Corporation, were able to execute their ideas.
Here is a hint. Successful execution requires a first-rate plan or strategy which is followed by excellent operational decisions. Those of you who have been down startup lane recognize this is why investors base their investment decisions on people rather than ideas. In short, investors are looking for good people whose ability to execute instills confidence. The idea is secondary.
Time Management Plays a Role in Execution
Time management has three main components:
- Managing time effectively by allocating only the amount of time needed to accomplish a specific task.
- Prioritizing tasks in order of importance.
- Constant awareness that time is limited and needs to be spent in the most productive way possible.
Implementing an effective time management strategy requires planning your day in advance. Preparing a to-do or task list is an advisable strategy. Your list should prioritize the tasks needing accomplished and include the time allowed to complete each task.
This offers two advantages to the busy entrepreneur. First, it helps you avoid putting more things on your plate than you have time to accomplish, and second, ensures the most important tasks are completed. If there are uncompleted tasks at the end of the day, they can move to the top of tomorrow’s list.
Successful time management also requires that you establish deadlines and always strive to meet them. One of the most difficult aspects of time management is learning to say “no.” Entrepreneurs, by nature, have an ego. As a result, too many entrepreneurs allow themselves to be distracted by saying “yes” to projects unrelated to defined objectives. In short, stay focused.
If you are fortunate enough to have employees, learning to delegate is an important factor to staying on track. Successful entrepreneurs have learned to differentiate between what is urgent and what can be deferred. They have a sense of what is important and what is routine. This is a skill you either must have or quickly acquire. You can’t prioritize appropriately without this talent. Time management distills down to doing the right thing at the appropriate time in the least possible amount of time.
Personal Attributes
As an entrepreneur, you must strive to be:
Organized — Keep your workstation uncluttered. Discard what you do not need and file what requires retention. A pile of papers and clutter on your desk can strangle motivation.
Time efficient — Never waste time in idle chitchat or in lazing about. Endeavor to remain focused on your tasks so they may be completed on-time. Also avoid getting lost in the web; this is possibly the greatest waste of time on the planet. Try using a plug-in like StayFocusd for Google Chrome or an application such as Desktops for Windows. There are others out there and most are free. These tools can help you break an internet addiction or just help you avoid wasting time.
Focus — Yes, this may seem redundant, but focus is an incredibly important trait to master if you hope to execute well. Use planners, to-do lists . . . whatever works for you personally. And while the internet can be a dangerous distraction, it also offers solutions to many of the obstacles that stand in the way of execution. There are a variety of software applications and many free online offerings that offer valuable tools for keeping your enterprise organized and productive.
The value of accurate record keeping is a critical aspect of being organized. There is no better means of learning where your business is going than to see where it’s been. Excellent records are the foundation for managing the progress of your enterprise. Records are necessary for tax purposes, borrowing, planning, and staffing, which represents only a partial list of the many benefits meticulous record keeping provides.
There simply isn’t space in this post to address every facet of execution but I am confident that this information will prove useful in your efforts to get things done. Successful entrepreneurs all have one thing in common: the ability to execute.
