Ideas are great, but they're not worth much unless you turn them into reality. Some great inventions never make it to market, and most never make any money. Many great companies fail in their early days.

Ideas generate action. Action brings results. If you don't get some results, then it's difficult to say that your idea is working.

If your product or service doesn't provide any value to the user, you will struggle to get anyone to pay for it. So even if you can get people interested in what you're selling, they won't be willing to pay. It's hard to put a dollar figure on this benefit because it comes in so many different forms. Pleasure, fulfilment, community, quality of life - these are just some of the abstract benefits that keep users coming back for more.

Strategic planning is a process of creating a shared understanding of a company's future and helping to drive it towards a desirable outcome.

Businesspeople often think of a strategy as the plan they follow when they enter a new market, bid for a contract, or strike an alliance with another firm. And while such short-term moves require plans to be executed, the general concept of strategy hinges on widening the lens to ponder decisions that affect an entire organization or industry for years or decades.

The strategic planning process starts with a determination of the organization's mission and the formulation of the organization's goals. The organization then translates these goals into objectives and selects strategies to accomplish them. These strategies are then implemented through plans and programs (and budgets, salaries, and personnel assignments) to achieve the organizational goals and objectives.

Is it a good idea to quickly test your ideas in the marketplace, then learn from the results before proceeding? Or should you have a formal business plan, do a lot of detailed planning, and create a product that is perfectly designed before launch?

Experimenting is the key to making better decisions. By testing your ideas and getting feedback, you can improve your judgment and learn to anticipate the results of uncertainty.

Experiments are the most important tool ever invented for thinking. They do more than just generate data you can use to prove or disprove your hypothesis. Experiments generate new ideas. And they get you ready to get the most out of new ideas.

Experiments make you think about what you think you know. When you ask a question, an experiment suggests a way to find out the answer. Experiments force you to pay attention to what's really going on in the world around you, that your intuition may have been distorting or missing. Experiments give you no choice but to consider alternatives--to try something new. Experiments teach you how to think.

The way you think about things - is the most important factor in achieving success in business or careers. You can have all the skills, but if your business mindset is wrong, you might not be successful. Mindset is more powerful than skill. Skill is easily acquired; mindset is not.

I would give 90% of your eventual success to your mindset. Whether you're a scientist, an engineer, a manager, a designer --- as long as you're making something new, as long as you're doing something creative, your mindset will be the most important determining factor in how well you do.

The right mindset makes you seek out the opportunities that lead to greatness; it helps you recognize and develop your unique strengths; it makes you persist in the face of failure; it keeps you laser-focused on results; it keeps you humble; Like you are on a continuous learning journey.

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