Getting Clear on Your Business Idea

Business IdeasSo many ideas and opportunities flood your brain as you start to consider your new business venture. As you imagine who your customer will be, ideas keep tumbling into your brain as great ways to make more money, augment your business and be a success!

But then you look at your notes and realise that you have created a monster and lost sight of the original idea.

This is a very common scenario when we first start planning our new business. We don’t want to limit the business potential and scope as we have a compulsion to maximise our business idea.

The trap with this is that we can create a business concept that is unfocused, unclear and confusing. We develop a business proposition that is hard to articulate into a single sentence. Sales are slow to eventuate as a confused prospect never buys.

How do you harness these opposing forces? On the one hand your unbridled enthusiasm and energy generates new ideas and fuels your effort. But on the other hand creating a concept that becomes overwhelming and difficult to find a way into.

Try this three step approach to keeping your energy high to capture your brain waves and then distill it down into a tight business concept.

Step 1: Have an ideas bucket

This might be a notebook, a file on your compare, a note on Evernote. Use this space to dump all of your ideas, brain waves, inspirations, and observations. Write freely, don’t censor! An idea that may seem irrelevant now may be extremely useful in 12 months time.

Step 2: What does your customer want to buy?

As you consider the business, what will the customer be buying? What is the core of your offering that a prospect will consider? Put yourself in their shoes and imagine what problems they have that need to be solved. Then what is the simplest way you can meet their needs? What is the solution you will be offering?

Write this down.

Step 3: Adding in your sparkle!

Now you have considered your customer and their needs add in your own energy and passion! Open up your ideas bucket, and select those ideas that will add value to the solution for your customer. Make it vibrant and appealing but keep it focused on a clear, elegant proposition. The easier it is to understand, the easier it will be for a customer to buy!

Step 4: Keep adding to your ideas bucket

Ideas are the lifeblood of any business. How we innovate, delight customers, beat our competition are all fueled by great ideas. You will keep getting them, so ensure your ideas bucket is always handy to add them in. Take some time each month to review your bucket and see what ideas can be bought to life!

I would love to know what ideas pop up for you – share them below!

 

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