When Is That New Business Idea a Good One

If you are a creative entrepreneur, you probably uncover new ideas on a regular basis. I keep a notebook of good ideas which pop into my head. My challenge is to sort the inspiration from the clutter. My greatest marketing and product ideas often come in a flash. My ezine is receiving raves and is becoming a book. On the other hand, some pesky thoughts launch me into a mindless web-surfing episode. Can you relate? (I hope I’m not the only one bothered by distraction!)

So how do you decide what is valuable? Ask yourself a few simple questions.

Does this idea move my business forward now? Does your newest brainstorm simplify what you are already doing? Does it fit into the current model? Will it leverage your current efforts? Or will it slow you down? Sometimes you have a great idea but it is not the right time for it. I recommend getting an “Idea Book” and jotting down every brainstorm. Once you write it down, you know that it will be available for you later, so you can easily return to what is important now. The side benefit is that you have a list of great ideas to tap on those days when you are feeling dull an uncreative.

What bucket does this fall in? I ask myself this question often. A bucket is a category. I have a leads bucket, a niche bucket, an online marketing bucket and a product bucket. I also have a bucket for productivity ideas, although my productivity ideas are usually the first to be put into action. By grouping ideas, it is easier to sort them by relevance.

What does my team think? Once I categorize my ideas, I take time to review them with my team. Every business needs a team. If you are a solo-preneur then find a coach or mastermind to keep you from drowning yourself in your own creativity or failing to see the forest for the trees. It is a good practice to gather ideas, group them, allow them to age and review them with others.

Want to be consistently brilliant? Here is the simple formula.

1. Brand your company and products! Branding is a process of creating clarity for your business. It sends a clear message about your value. You exist to serve. When you provide more service that falls within your core brand, you make it easy for people to accept.
2. Know your target market and USP.
3. Plan your work and work your plan.
4. Delegate everything except your special brilliance.

Finally, enjoy life and keep it simple!