What to do with new ideas?

  • On February 15, 2019
  • New Ideas

Are you the kind of person who deals with daily problems head on wondering why no one has yet thought of a way to fix them? Are you a rational thinker and able to come up with great ideas – ideas which can be new or innovative, but most importantly ideas which have a great value because they do not come along very often?

Great ideas can be anything and they could be divided in two groups: services and products. One way that can be used to check if an idea is good is by simply asking one question: is there a customer for this idea? In the first place, what one should do is to talk to potential customers, to share the idea with them and hear their feedback and opinions. Positive reactions and responses is a sign that it is reasonable to take further steps – think about the ways of how to make the idea earn money.

Consider customers and money

Ideas should create value, therefore, if an idea can yield benefits to other people then it means it can be sold and earn money for the person who came up with it. People will be willing to pay for a brilliant idea because it offers a way to make life easier, more comfortable, or even cheaper. Nevertheless, a good analysis of the profitability question should be made. It is important to determine whether the time, energy, money and human resources spent on the development and execution of the idea are lower than the earnings.

Analysing the question of money is a great way to rethink the idea and to look into different variables that can affect the success and profitability of chosen idea. It is necessary to define a target group carefully – age, gender, location, and the likes should be taken into consideration. Furthermore, it is important to understand if customers really need this idea, how relevant it is for them, and what they gain from it. It is also necessary to research the market and see if there are any other similar products or services out there.

Having a brilliant idea, especially a unique one, can both be a bane or a boon. When the idea is unique or innovative, it may be difficult to sell it since not a lot of people are open to novel ideas. Hence, it can take some time for the idea to sink in. However, if there is something similar already existing in the market, it can be helpful in a way that it is possible to show to the customers the advantages of the new idea in comparison to the existent one and to demonstrate how new idea is able to provide improved solutions to an existing problem/s.

And what if there are no customers yet? Turning around to one’s network

Thus far, the approach to the questions presented above has been very positive. Nevertheless, reality can be very different and might require an extra effort and investments. Let us have a look at a situation where there are no customers or where target group is hard to define. One of possible solutions to this issue is to turn to one’s network. The fear that someone might steal the idea should not hold one back from sharing the idea. In fact, friends and acquaintances can give a sound feedback and even show how valuable the idea is or could be.

Being open and attentive to outside observations and opinions can turn a great idea into a business. Yet, many ideas are simply rejected because a person was afraid to share them with anyone. Hearing out what people around think about the idea and see them interested in and positive about it is a good sign, which means that it is worth developing the idea further and looking for the ways of earning money from it. Making money out of the new idea can be difficult at the beginning, thus it is also a good idea to raise this question while sharing the idea with different people.

But what if people do not seem to buy the idea? Giving up should be the last thing one does. Instead, a few points should be reviewed and reconsidered. Firstly, it is necessary to have the second look at the idea and check if the way it was presented is exactly as it was imagined in one’s mind. Working on improving the presentation and practising it a few times can help to better understand various aspects of the idea and even simplify it and make it more understandable for everyone. Finding someone who can present the idea can also be an advantageous solution. Secondly, writing the idea down can help to pinpoint where the problem lies. It can be that the reason why this idea is valuable is not clear enough – using numbers and statistics can greatly improve the idea itself and raise awareness of the issues that the idea can solve.

Outside opportunities

Certainly, there is always a chance that people around might not like the idea or would find it irrelevant. Hence, it is important to keep in mind that people on the other side of the world might love it. One can get surprised how many websites and unions are keen on investing in or buying the idea. Spending some time on searching for new idea websites or investors might pay off. In addition, a small research can help to determine how sound the idea is and it can even shift one’s perspective regarding the new idea.

Regardless of the question or issue one is dealing with, it is always necessary to keep focused on customer. Putting oneself in customer shoes is a great way to scrutinise the idea and it is a good practice in order to find out if the owner of the idea him/herself would be willing to pay for this idea. Steve Jobs’ technique can be of a great help to: stand in front of a mirror and ask oneself what needs one has.

It is all about one’s approach towards great ideas

Many people have great goals and ambitions. They want to do something great or maybe just to start their own business. Nonetheless, more people are held back from doing anything because they are not able to come up with a brilliant idea, are content to settle as copycats, or simply stick to the thought that there are no more original ideas left. Undoubtedly, this kind of thinking cannot bring anyone far and what one really needs to do is to make an idea great. Sometimes it needs a beautiful mind to come out from, sometimes it only needs an awareness or an observing eye. In fact, it does not matter how the idea was born, what really matters is what one does with an idea that is brilliant.

Written by Hamilton Esfandiari