Do you know what it takes to make money from your ideas? Most do not but the good news that it does not require a lot of effort just some thought and a few key concepts to prepare before hand. Business plans are fine but before spending hours on planning, development, and even more on funding an idea, make it work first. Check its viablility then do the ‘prep’ work. You want to spend nothing or next to nothing to get a feel for the potential of your idea not a bankroll for a flop.
Success requires speed and momentum. Once you have the ball rolling and you start to see the pieces coming together it will hit fast. What you have here is a way to start the process and save money along the way. Not all ideas are for revenue but for those chasing the dream, here are a things to do in advance of the rollout.
Know what you are selling
What is your product or service? What does it do or what do you do? As an income object if the idea is not saleable then it doesn’t fit your plans. Is is sellable? In other words can your product be put out before the masses and draw significant returns for you to move on to the next step; namely, mass production?
Know who needs and wants it
Without a market, without customers your idea is a scribble in a notebook. For an idea to income model you need to know who will want and be willing to buy your offer. This also provides a bit of a motivational angle because you can see for yourself its potential which can push you ahead even faster.
Know how to reach them
Your potential customers have a home address, email address, and a clever collection of traits that make it possible to talk directly to them. The Internet is a great tool for this as well. What magazines do they read, web sites do they visit. TV or radio programs. You want to get your message to them and get their input before you spend a fortune trying to get them to buy.
Put it out there
So now is the strategy time you want to put it out there like you mean it. Let people know the idea is on the table and that you intend to deliver. You are officially in test market mode. This does not mean take orders, but prelimary orders are ok, more information requests, and other not monetary methods you can develop to get your customer to pay attention to your idea. Put up a free blog site or if you have a server and a domain give them the address to surf to to get their input, domains are cheap if you know where to look so for less then 10.00 you can set up a site and keep it if it pays off. (learn how to build a web site quickly for free) At this point all you want to know is if it will move off the shelves. Let them know that this is just a preliminary offer and you just want their input. At this point have a number in mind that speaks to you for deployment. Keep those interested parties in your address book and keep them informed of changes uses your RSS feeds and a ezine or newsletter. In the world of Marketing 2.0 and Open Source Marketing, your customers are working with you, your not selling to them. If they like it, they will spread the word. Power to the Internet.
You have launched a viral assault and now you have a little attention and people are clarmoring for a buy. Time to go back to the prep stage and let it come to life. Do the leg work and put together the product. The best part is; you found out in no time and you know there is a proven market that if you are after either a licensing or venture deal to get the product rolling you will have evidence of potential return in hand which is always a good way to endear your partners.
So what are you waiting for a kick in the butt? Get it out there and see what you can make of it.