Research your idea thoroughly…

Research your idea thoroughly before floating it with management

Holloway: “When an idea comes into your head, you need to evaluate seven things…

  1. Will this activity add value to the company (in terms of money or brand equity)?
  2. Will time spent on this add more value than time spent on other activities?
  3. Is it achievable?
  4. Does it fit your overall business direction, brand image and corporate culture?
  5. Does it already exist?
  6. Is there a demand for this idea?
  7. Can you quantify the ROI?
This comes from a valuable post by Leigh Steere, co-founder of Managing People Better, and a fellow member of the Lead Change Group. The post is explicitly about “idea” people within companies, and how they should carefully consider their ideas and use discernment communicating to management. I encourage you to read her fine post HERE.
The above bullet points caused me to think how similar questions could be used in a personal setting, sole proprietorship, small organization, and even particularly how it can relate to our families.
Example:
  1. Will this activity add value to my life, existing relationships, or my organization? What benefits will it bring others and/or myself? Are the benefits high value and long term?
  2. Will time spent on this idea add more value than time spent on other activities? Excellent question for those of us who tend to juggle multiple projects.
  3. Is it achievable? Is this a “pie in the sky” idea and are there the resources (money, time, skills) available to give this idea a fighting chance?
  4. Does it fit my overall personal, family, or organizational direction, image and culture?
  5. Does it already exist? If it does, how is it working for others?
  6. Is there a demand for this idea? From a sole proprietor or small organization perspective, does anyone want this? Is there a need or desire that can be filled or satisfied?
  7. Finally, does the idea fit well with the existing passion, purpose, and values that I, my family, or my organization embrace?
These are simply some “off the cuff” thoughts during a Saturday morning bagel and coffee.
What are your thoughts? Especially from a sole proprietor, family, church, or other small organization point of view?

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