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Rule#2: 'What would Dennis do?'

May 1, 2017

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September 30, 2015

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6 steps to profitable ideas and soltuions

July 23, 2014

The world is full of ideas and solutions.
The challenge however is finding ideas that make a difference. Ideas that improve your business and drive growth. Question is, are they useful and adding to the profitability of your business.

 

The thing is practical and viable ideas and solutions aren't just about inventing the next iPhone or creating the next paradigm shift. They simply need to be viable and help your business grow. A profitable idea needs to have a purpose by solving a problem or finding an opportunity.

 

That's why I love the word 'ingenious' because it is defined as 'clever, unique and fit for purpose'. It's the last part that is vital. Great ideas are ideas that have a reason for being. They either solve a problem, add value, contribute or open opportunities.


The other challenge is that most people have ideas then try find a challenge for those ideas to solve. It should be the other way round. Start with the challenge first and then find the idea.

Here's a simple process to help direct ideas towards relevant challenges in your business.

1. Write a list of 5 challenges facing your business.

For example they could be...
- Shorten your sales cycle
- Automate your online marketing
- Retain clients
- Streamline an admin process
- Build a better follow up system

2. Look at your list and choose one of those five that if solved will have the biggest impact.

3. Get creative and create a pool of ideas and solutions to address that particular challenge.

 

4. Pick the most 'ingenious' (clever, unique, fit-for-purpose) one.

 

5. Do it.

 

6. Review the effect it had and modify as needed.

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