How to know if you have a winning idea

If you’re in the process of making an important business decision, today’s post is just for you. At the very least, it will help you increase your chances of a successful outcome.

Okay. Let’s go!

I’d like to start by sharing something with you. It’s about certain questions, which people ask me all the time.

Here’s just a small sample.

• If I provide (whatever) as a new service, will it be successful?
• Will I be more successful, if I become a niche provider, rather than a generalist?
• Is (whatever) a good name for my new business, product or service?

If you take a closer look at those questions, you’ll notice they have something in common. They’re all decisions. And by asking me the question, the questioner is asking me to decide.

Great ideas are not anointed

Here’s the problem with that approach: Great ideas are not anointed. There are many factors, which determine whether a business idea will fly or flop. Ironically, one of them is the ability of the business owner to make business decisions.

For example, when the first tablet computers were made (years before the iPad), they flopped. They flopped, not because tablet devices were a bad idea. Apple’s success proved that beyond all doubt. They flopped because of the poor decisions that were made about the design, development, marketing, pricing and quality of the first tablet devices.

Will that idea of yours succeed?

If the research stacks up.

If the numbers work.

If you’re committed to making timely decisions based on good data.

If it’s marketed professionally… you’ll possibly knock it out of the park.

But you’ll only know for certain, if you try. Yes, there’s a risk attached to trying. In fact, there’s a risk attached to every decision.

Think about it, even the decision to do nothing, is itself, a MAJOR decision. And it’s a major decision, that comes with a huge risk attached.

Really?

Yes! Every time we choose to do nothing, we close the door on a potential opportunity. That’s a risky strategy, unless we know for certain that our idea can’t succeed. And it’s hard to know for certain, if we refuse to, at the very least, give our idea a try.