According to mainstream business principles, the execution of a plan is more valuable than the conception of the business idea. “Would you bet on a jockey or a horse?” is often asked to explain this topic. Thus, when evaluating investments, the team running the operation is considered more vital than the actual product they are selling. The concept seems both simple and intuitive: success follows hard work, intelligence, and diligent planning.

I would never argue against the importance of excellent execution. However, during such conversations, the value of that spark—the naked idea—is often classified as worthless. Simply put, without ideas, there would be no need for execution. The ability to develop new business ideas is an art form. This is the nexus of dollars and creativity. It is possible to teach how to execute, but there are no creativity courses in business school. Thus, when arguing about the value of execution, please be kind to the creative thinkers. 

America depends on the ingenuity and imagination of its people. The ability to develop and execute a business plan remains paramount. Yet, just as a baby’s first breath signifies the start of a new life, it is the birth of an idea that triggers the need for competent leadership.