from Idea to Product

What’s Your Big Idea? Can you make $$ out of it?

by Donny Deutsch, TV Host, The Big Idea 6/12 enhanced by Peter/CXO Wiz4.biz

How can you tap into your creative potential and launch your big idea? You know… the idea that currently lives only in your head? Donny Deutsch, host of the hit CNBC show The Big Idea and author of a book of the same title, says these are the things you can do to help uncover your next big idea.

Find it. What do you love to do? What’s your passion? If $$ were no object, what would you do?

Follow your Passion. All successful entrepreneurs love what they are doing. Unless you are passionate about your idea – meaning it gives you excitement, energy & enthusiasm – it will be difficult for you to be successful. You wont be able to get thru the tuff times.

Open yourself to Opportunities. Instead of thinking you deserve something, develop humility and a genuine sense of appreciation for the opportunities you see. Check them out. See if they’re the one for you to pursue.

Fine-Tune it. Who would you do it for? Who needs it the most? Would they be willing to pay for it? Do they see the advantages?

Go for it ??? Is it just a Hobby or would you like to make money at it?

Study it. Learn every thing you can know about it, so you can make the most informed decision.

Try it, before you buy it. Figure out the best way to get some experience at this. Do it free for awhile. Work for an organization with a similar product or service. Free if you have to.

It’s better if you Do something New vs improving on something old. You’ll create a new market and be the 1st Mover vs being a “me-to”.

Create a Prototype, working Ap, so that you can demonstrate it to others. They have to understand it to figure out whether its good for them.

Get the Friendlies on-board. Start with your Family & Friends. Next go to experts in the field. Explain it to them, show them (if you can) and get feedback. Modify it, if you think it’s a good idea.

Building a Team. If you haven’t already, recruit partners to your team that are impressed with your product and bring a skill that you are lacking. Delegate.

Get it in their Hands. If you have to, offer it “free” to get it into as many hands as you can afford to. If they’re impressed, they’ll create a buzz for your product.

Monetizing it. You can make money at it by having a premium version of your basic and charging for it. If you’re attracting a lot of traffic to your site, you can talk to an expert to find out some good ways to make money out of that.

Comments: Does this cover every step you need? Are there any you could add?