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“7 Incredibly Simple Ways To Profit Wildly From Public Domain Material”
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Profit from Your Idea
Idea planning to come up with a moneymaking concept is much like creating a painting or writing a book. It starts with a blank canvas and visualization.
Brick by Brick
Write down the seed of your idea in one sentence. Describe three ways in which this idea could generate a profit. Ask yourself if this product, plan, or service will meet a need? Who will use it?
Use an exploration tool such as the following to brainstorm your idea:
Stick in there. Gather in a room with a blank wall or a whiteboard and give each participant a set of sticky notes. Then state your goal or idea. Let's say the goal is to generate ideas for XYZ Division to increase productivity levels. Have everyone write down three to five solutions and stick them on the board.
The facilitators should then designate three appropriate categories, such as Immediate Action, Pre-Planning and Not Appropriate - or something similar - and have the participants come up and arrange the sticky notes into the appropriate categories. This is an excellent technique for finding out what everyone is thinking.
Hammer It Out
In this phase you'll produce a plan for implementing your idea. The following processes will help you define the practical details to address.
Strategy definition. From the analysis you did in the structuring phase above, you'll be able to identify the resources you will need to implement these ideas, such as manpower. Does the idea create a viable solution? Is it unique? Can you move quickly with it?
Resource
planning. List all the resources you'll need to develop the idea into reality. Visualize its completion. How will you get there? Using the answers to the questions you asked in the definition phase above, set a timeline and a strategy for implementation and put this plan into an outline format or a project planning software tool. Or do another brainstorming session.
Will It Fly?
How will you know your idea planning has been successful? From the work you did in the building phase above, you should have enough information to come up with the following:
A value proposition. What benefit will your idea bring to your potential customers? To your company?
A format description. Just by pulling together the basic structure of your idea, you'll be able to consolidate it into a format that describes the idea in detail.
A promotion strategy. Your previous work will help you identify the steps you need to take to promote your idea, and you can brainstorm strategies that will do the best job. This part takes thought, research and focus.
Remember, right around the time you have an idea, someone else will have the same one. Who will be the first to develop it -- and sell it?
About the Author
Diane's online specialty is digital marketing. She is CEO of LocoNotion Idea Studios, Inc. (http://www.loconotion.com, a web development firm. She has years of prior experience in broadcast media, but has spent last nine year working online. She is located in corporate headquarters, Seattle, Washington.
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