I'd like to share one of the tidbits of learning from my entrepreneurial studies at Pepperdine University. It was from one of my favorite professors, Dr. Kyle Murphy, who has extensive experience in turn-arounds and multiple ventures.
Today's idea is about making the idea itself - that is, ideation.
When people dream up ideas, oftentimes, they end up stifling their creativity by second-guessing themselves, or garnering criticism too early in the process. I've seen too many good ideas, and probably haven't seen enough good ideas be able to materialize because they asked the wrong person about what they thought about their idea way too early. And God knows we're a society of critics!
So here's a few takeaways from what my prof taught us about ideation, the process of actually forming a viable business idea. There are 4 primary steps:
1) IDEATION - Throw up any and all of the ideas you have on the whiteboard or piece of paper. It is VERY critical that at this stage, you do not invite ANY criticism or judgment into the process. The creative brain must operate freely and openly, and not be afraid to realize its full vision. It's typically in this stage that ideas are stifled and shot down before they even have a chance to take off. Think of it as a baby that must be coddled in order for it to be able to grow up. I cannot stress how important it is to have an open mind about your ideas at this early stage. Once you've gathered about 10-12 ideas, clearly articulate them, put them on the board on sticky notes or in an organization of your choice.
2) EVALUATION - ONLY after you have gathered ALL of your ideas will you proceed with this stage - and here is where a completely different part of your brain kicks in- the analytical side that generates judgment and criticism. Gather your critics, your friends, family, anyone who you care to in a room, and explain each idea to them all thoroughly. Give them each a pen, and ask them to go up to your board and rank their own top 3 ideas on the board. Ask them also to provide feedback on their 3- what they like, don't like, what they'd change, etc.
At the end of this exercise, you will tally up the votes and stack rank them, along with all of the gathered feedback. Incorporate the feedback into these ideas. Thank everyone for their time.
3) FEASIBILITY - Now that you know what a small sample population thinks of your ideas, it's time to see if what you can actually do. Here is where you do your homework on what it takes- the how of what it will take to successfully accomplish their winning idea. Then, depending on your resources, you move ahead with a decision.
4) PLANNING & EXECUTION - There's a thousand ways to peel an onion, and so there is with planning out how you will accomplish your idea. Here you employ a different skillset - being organized while maintaining discipline around your approach. This is where many ideas sadly die, so don't be lazy about making a good idea come true.
And that's it! keep it simple. :)