Our problem is not coming up with ideas – our problem is that we have too many choices.
Do you know how to proioritise?
There are three steps that you need to consider:
Fast
Easy
Profitable
Take each idea and rate it through all 3 of the above and then rate on a scale of 1 – 10
You see where a lot of us get it wrong – is we only look at one of these components.
Let’s say profit, (as all businesses focus on this), the idea may be profitable (8 out 10) but may be incredibly complex (1 out of 10) and therefore not Easy and will take a ton of time (3 out of 10).
This scores a 12/30.
Any other ideas beat this score, that is the one to go with. This doesn’t necessarily mean the rest go in the bin, this is about prioritising not eliminating.
When you have a clear plan, you can execute clearly.
What about one that is easy and fast but not going to make any money?
See how this filter works?
Super easy (10 out of 10). It is fairly time consuming though (4 out of 10) but will return a decent profit (5 out of 10) – the total is 19/30 so if these are the two choices you have then go with this one first.
The problem with a lot of ideas and applying the filter is that they are personal!
This is where I come in to it! I am not married to your idea or business. Its not personal for me and I don’t have rose-coloured lenses.
So – when you want to brainstorm, or get an independent outside view, book a time with me.
Think about it for the weekend!
PS – This can be in your life too not just for business!
BL
If you want to receive the Daily Deliaf, Subscribe here: http://bit.ly/DailyDeliaf. If you know others that may benefit from the Daily Deliaf please share.