#10: How to execute on a 'cool idea'

Definition of a 'cool idea': It solves a real life problem, you are able to create a solution and customers agree to spend money and/or time to acquire the solution. You can execute on cool ideas by luck, or by doing the following:

• Understanding the customer's pain points at an experiential level
  
• Learning how a customer will use the product or service
• Possessing capabilities to produce the product or service
• Providing products or services better than your competition
• Sustaining value over time by adjusting to evolving customer needs
• Making money in the process or producing value that exceeds the cost incurred to produce it
  

If you cannot execute your strategy on a 'cool idea', its not really a 'cool idea' and without the above it is an exercise in futility.