How to Get from Good Ideas to Great Implementation
We all know that good ideas are easy to come by, and that taking a good idea and turning it into a viable business or having the impact you’re seeking is a shxt load harder.
We chat to lots of people with great ideas who can be stuck when it comes to where to start, or if they should start at all. The Lean Canvas is always a good tool to use, and here are some of the other things to develop and consider before you green-light your new project or venture …
1. Crunch the numbers
What business are you in and what are the key metrics you need to focus on?
What does success look like?
What revenue can you receive – model a couple of scenarios – conservatively and best case
Add in what expenses are needed, what are the ongoing operational costs?
What profits will be retained?
What cash is needed month on month?
What roles and competencies are needed?
Who’s doing what? (critical if there are several founders)
What are the gaps?
How will you all be paid?
How will you manage ‘the business’ not just the roles you all do?
How will you know you’re in track and how will you keep each other accountable?
How will you launch and win new customers?
How will you retain them?
What products and services will you offer and what price point?
How will you delver these?
A good spot to remember that there are several horizons when creating a new venture – the long term, perfect outcome, designed venture is what keeps the motivation flowing but being really focused on quick and effective implementation and revenue generation in the short term is crucial to ensure you can keep operating as you bring the vision to life.
What size is the total available market and how much of this can you reasonably chase?
What’s your brand?
Who are your ‘ideal’ customers?
How do you win and retain them compared to other options they have?
How do you clearly define what you offer and what makes it different?
How to you advertise this?
Having a robust discussion and answers to these questions will help you decide if the case is strong or needs more work. The real magic then happens - take these answers and actions, sort them by urgency and importance, then get your hands dirty and do the work! That’s the only way your vision will come to life - focus and discipline. Not exactly sexy or easy, but you all know that if it was, everyone would be doing it. Be the exception - have the vision, shape the plan and make it happen!
There’s a tonne of free content and workbooks here to help, and we’re only a tweet or message away if you have any questions.