Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!

The Idea to

Profit

Relationshi

pAnastasia Valentine Business Strategist, Innovator

& Positive Instigator

Hashtag #WBS2014

Follow - @AVV

YOU WILL NEVER LOOK AT

INNOVATION OR IDEATION

THE SAME WAY AGAIN!

Painful

Exhilarating

Costly

And extremely

FUN to work on.

I’m an award-winning product strategist, former CEO of

Sandbox, with over 20 years achieving bringing ideas

and products to market in the high-tech, music, fashion

and retail industries. I work directly with amazing

solopreneurs, entrepreneurs, and small, medium and

enterprise-class companies across the globe.

All About

Sandbox, is an award winning boutique marketing

agency delivering strategies, services & support for all

sizes of organizations from idea through to launch

across the globe. Taking the role of your extended

team, Sandbox PM will play a hands on role in your

success in introducing your company, products and

services to the market.

Copyright ©2014 ANVIVA International Inc. Distribution and reproduction in whole or part not permitted without written consent.

This Workshop is Soci@l!

Share the love!

We’ve created tweetables for you!

Share the knowledge!

#WBS2014

You will leave this session

with: A sustainable business practice to

profit from your business ideas.

A solid strategy to validate your

business investment in new

products & services.

Clear method to make GO or NO GO

decisions

A plan to build & grow your

business through ideation!


We’ve got some biz

problems… Too many ideas

Overwhelmed

Not enough resources

Not enough time

Unfocused & non productive

Need revenue generating streams

There is a solution….


“Too many ideas is a great

business problem to have!”

“Ideation is a passionate

business affair”

“Don’t fall in love with an idea…”

Then & Only THEN, do you seal the deal!

“ALL Ideas are Valuable

NOT ALL Ideas are Profitable”

“Your idea inventory is just as

valuable as your customer &

prospect list.”

Mind Maps

Mind Map example from Personal Brain www.thebrain.com

Ideal for right brained business people

Creatives

Manual or Digital


http://www.thebrain.com/

Spreadsheets

J.K. Rowling used this manual spreadsheet to map out the Harry Potter Adventures

Ideal for left brained business people

Analytical Thinkers

Manual or Digital


Idea/Vision Boards

Perfect to combine

analytical & creative


Sustainable Ideation

A regular business practice

More important than your email list

Action Items:

◦ ASAP! Create your idea inventory

◦ ALL THE TIME Have a way to capture your business

ideas

◦ QUARTERLY Visit your idea inventory to evaluate your

next big thing.


Tap into your idea inventory for

“low hanging fruit” ideas during

business downtimes.

Common Idea Investment

Mistakes Invest too much to soon

LOVE GOGGLES – Blind us from

reality

Wrong timing

Not enough time to deliver high quality

Doesn’t feel right


Why Business Ideas Go

Wrong Not market ready

Market not ready for the

product/service

Market won’t bear the price

Saturated market – no differentiation

Well has run dry….

No love


Idea to Profit Path


Let’s Get Acquainted – Dating

Ideas Triage your ideas:

◦ Group them into categories

◦ Identify trends

◦ Group like ideas together for more

valuable, powerful & viable offerings.

◦ Choose 5 that stand out

3 big money ideas

2 low cost / high return ideas



“People who like you, will listen to

you.

People who TRUST you, will do

business with you”

Soci@lize It!

No point investing in something that

won’t pay off.

Action Items:

◦ Find at least 10 people who represent

your ‘Perfect Fit’ customer.

◦ Talk to them about your ideas

◦ Share your vision

◦ Listen, learn & improve


Why You Soci@lize an Idea

Validate:◦ the need or want

◦ content / features / deliverables

◦ benefits & value

◦ cost / investment vs. return

◦ price / pricing model(s)

◦ your return on investment / profit

Test your product/service

Build your community

Get endorsements & testimonials


Who to Soci@lize With

Existing Customers

Friendly Trusted Potential Customers

Business Partners

Inner Business Circle / Mastermind

Investors


What you Learn from

Soci@lization Who your ‘Perfect Fit’ customer is

What it takes to for the idea to be

profitable

How much to invest

How much to charge

What you make per unit

How much you need to sell

Bottom Line:

Is it worth continued investment?Copyright ©2014 ANVIVA International Inc. Distribution and reproduction in whole or part not permitted without written consent.

“Be Ruthless! Make Go/No Go

decisions based on facts.”

Go / No Go Decisions are

Good Business Decisions!

GO! NO GO!

Perfect Fit customers

identified, ready &

waiting

Meets a strong need or

satisfies a want

Price point works!

Return justifies the

investment

Community is growing,

positive buzz is building

Unclear on target or

customer fit

Market uninterested

Value not clear

Price point unattractive

Investment exceeds

return, investment (time

& $$) not available.

It doesn’t “feel” right.


“Numbers Never Lie”

“If you aren’t making a profit,

you are running a hobby not a

business.”

It’s a GO! It’s LOVE!

Take the opportunity to:

◦ Refine the product or service

Make it better, dig deeper!

◦ Get customer testimonials & rave reviews

◦ Leak some details & stir the pot

Engage the media, influencers

Plan a launch event online and/or in

person

Then you are ready to launch!


It’s a GO! It’s LOVE!

Action Items:

◦ Engage in “exclusive pre launch” activities

Don’t use terms like pilot, beta, soft launch –

implies unfinished, mediocre, buggy, not real

◦ Refine your product or service. Add Value!

◦ Get customer testimonials & rave reviews

◦ Arm your inner biz circle with info & tools to

make you (and them) successful!

◦ Package it up & wrap it up in a bow!


Launch It!

Seal the deal with a fabulous launch!

Gather your supporters

Share their words

Create an offer they can’t refuse

Celebrate your success

Make the commitment for the long haul to continue the momentum!


Next Steps

1. Create your idea inventory2. Choose your top 5 ideas3. Soci@lize them with trusted sources4. Move forward with the top 2 or 35. Refine ideas into products & services6. Revisit your idea inventory during

downtimes7. Pre launch to a select community8. Launch to the public

Keep US POSTED!Keep Us Posted!


My Gift to YOU!

Free Ideation Workbook & ToolKit

www.anastasia-valentine.com/wbs201


Visit me: www.anastasia-valentine.com

Follow me: @avv


Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!

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Transcript of Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!