HOW TO IDENTIFY YOUR MOST PROFITABLE IDEAS
1. Your idea has to be needed
2. You have to be passionate about them
3. You have to check out cost effectiveness, time effectiveness, profitability
ASK YOURSELF WHO NEEDS IT?
This is the most important clarifier you can choose. Ask yourself who needs this idea right now. Some of our ideas will be great fun to do but perhaps people don’t need them now – or ever.
4. Know your target audience. Know what changes have appeared in their lives. How have their needs changed? What are their most compelling desires?
5. Asking those questions alone will expand your list a hundred fold. Write those ideas down. Then circle the three ideas that seem to be the most needed.
6. Now identify the benefit in your offering. What’s in it for them? What will your product or service do for your target market? Write down the benefits they will receive for each of these ideas.
7. Then look for an emotion that your product will trigger. Emotion sells. Use that in information in your landing page copy. Will they feel relieved, more secure, will their body be more flexible, their relationship improved, their ability to succeed in their business enhanced? Make it about them and how they will change and what difference they will feel when they do. Before you consider bringing an idea to life see exactly where and how it will be of benefit to others.
DOES IT FORWARD YOUR BUSINESS?
Look over your business plan, your objectives for the quarter and see if this program or product will move you closer to your goal. Be sure the idea moves your business forward in the direction you have chosen to take it. Or, as an ever-creative entrepreneur, see if the idea takes you in a new, better, more appropriate direction and then follow that lead.
HOW PASSIONATE ARE YOU ABOUT THIS IDEA?
* Look For Spin Off’s of your idea For the moment you are considering three or four ideas. Let’s see how big we can make them. Think of your idea as an actor who can be in many plays and wear many costumes. One idea could be:
* A blog post
* A radio show
* A topic to interview others about
* An article or lots of articles. Every point in this radio show could be a separate article or blog post.
* An ebook
* A CD
* A teleclass
* Part of a bigger telecourse
* A home study course
* The topic for a live talk
* A mini-ecourse
* Think in terms of Bundle – Leverage – joint venture – see what other things you have created around the topic that can be combined. I have added my Transformational Visioning CD to several courses and it is a standalone product. I have created bundles of ebooks on creating different types of information products. As you discover an idea also list any spin offs that occur to you from that one idea.
* Make some choices – How easy is it? How much time do you have? You have now identified ideas that
* Are needed by your target audience
* Forward your business in the direction you want it to
* Rate high on your passion to do it
* Have the potential to become many things. Now let’s look at your time commitment.
* Do I have time to get this done, in this form in the best time line for making it successful?
* What’s the easiest form for this to take?
* What do you need to learn to do this idea?
* What could keep you from getting this done?
* What feels easiest to do?
Prioritize Your Idea List
Examined three ideas. Prioritize those three by asking yourself
* Why am choosing this particular idea? What excites you about doing this idea right now?
* What’s in it for me? What benefits will you get from following through on this idea?
* What’s in it for others? How will you be in service with this idea?
Choose the next idea you are willing to expand and develop. Keep Your List Active Here’s what we talked about
* How to keep track of your ideas
* Discovering who needs your idea
* Does your idea forward your business
* How passionate are you about this idea
* Look for spin-offs of your idea
* Make some choices – how easy is it – how much time do you have
Contact Cara at www.caralumen.com on how to create a Magical Magnetic Idea Bank that will keep you moving forward for years to come and how to use the Magnetic Measuring Stick to prioritize it.
http://www.caralumen.com