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Profit_from_Your_Idea
| Profit from Your Idea
Idea planning to come up with a moneymaking concept is much like
creating a painting or writing a book. It starts with a blank
canvas and visualization.
Brick by Brick
Write down the seed of your idea in one sentence. Describe three
ways in which this idea could generate a profit. Ask yourself if
this product, plan, or service will meet a need? Who will use
it?
Use an exploration tool such as the following to brainstorm your
idea:
Stick in there. Gather in a room with a blank wall or a
whiteboard and give each participant a set of sticky notes. Then
state your goal or idea. Let's say the goal is to generate ideas
for XYZ Division to increase productivity levels. Have everyone
write down three to five solutions and stick them on the board.
The facilitators should then designate three appropriate
categories, such as Immediate Action, Pre-Planning and Not
Appropriate - or something similar - and have the participants
come up and arrange the sticky notes into the appropriate
categories. This is an excellent technique for finding out what
everyone is thinking.
Hammer It Out
In this phase you'll produce a plan for implementing your idea.
The following processes will help you define the practical
details to address.
Strategy definition. From the analysis you did in the
structuring phase above, you'll be able to identify the
resources you will need to implement these ideas, such as
manpower. Does the idea create a viable solution? Is it unique?
Can you move quickly with it?
Resource planning. List all the resources you'll need to develop
the idea into reality. Visualize its completion. How will you
get there? Using the answers to the questions you asked in the
definition phase above, set a timeline and a strategy for
implementation and put this plan into an outline format or a
project planning software tool. Or do another brainstorming
session.
Will It Fly?
How will you know your idea planning has been successful? From
the work you did in the building phase above, you should have
enough information to come up with the following:
A value proposition. What benefit will your idea bring to your
potential customers? To your company?
A format description. Just by pulling together the basic
structure of your idea, you'll be able to consolidate it into a
format that describes the idea in detail.
A promotion strategy. Your previous work will help you identify
the steps you need to take to promote your idea, and you can
brainstorm strategies that will do the best job. This part takes
thought, research and focus.
Remember, right around the time you have an idea, someone else
will have the same one. Who will be the first to develop it --
and sell it?
About the author:
Diane's online specialty is digital marketing. She is CEO of
LocoNotion Idea Studios, Inc. (http://www.loconotion.com, a web
development firm. She has years of prior experience in broadcast
media, but has spent last nine year working online. She is
located in corporate headquarters, Seattle, Washington.
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