Back of an envelope or a white board sessions are so powerful – and is often where empires are built !!!
They are typically well thought out and the impact of these ideas if unleashed at an enterprise level could be game changers for individuals, teams and organizations.
In order to effectively leverage and monetize great ideas there are 5 strategies an entrepreneur needs to do.
If you can execute these well you can move from the back of the envelope to financial freedom!
1. Have you validated your model?
Just because you think it is so doesn’t mean it is so.
What have you done to validate your model? Have you tested it? Have you broken it down it competencies? Have you done market research ?
Ps. There is a school off thought to build an MVP – and get it out there to ensure it is what customers want ! If it works – great – if not – fail fast!
(Ps it’s ok to fail!)
2. Engage with your customers
Have you gotten input from potential customers? Creating in isolation is dangerous!!!
You want to engage with your customers and users of your offerings early and often.
Gaining insight into their needs is critical – it actually accelerates the buying process by creating supporters and fans. Co-creation and pre-mortems are powerful and should be used as often as possible.
Give the customer what you want and you will get what you want
Is it easy to use and process and easy to understand? Is the user interface sleek and sexy and simple to use ?
Making things simple is not easy and often takes more time and effort to build.
4. What is its WHY?
Is it clear what the impact and benefits are?
It may be crystal clear in your mind how the world would be a better place if people mastered your work but you need to meet the users where they are.
What’s the benefit to them on an individual level, A team level and an organizational level?
Spend the energy to document the impact upfront and speak to it throughout the process of rolling out your content.
5. How do you make it sustainable?
Ultimately, to succeed in the content space your work needs to change behaviors that drive business results.
Enterprise clients do not want a quick post-session spike; they want a sustainable and measurable change that is directly connected to key business metrics.
The back of the envelope, sketch or an interactive whiteboard session requires a lot more than the idea to commercialise…. The steps above are 5 gems that may help you commercialise….and as you know – there are many other factors to make your back of an envelope successful.
By taking action and pursuing your ideas and dreams is worth it , and will take you beyond where you thought it was possible to go
Onwards and upwards!!