How to Create and Exploit an Idea to Generate Wealth

The process for creating and exploiting an idea that you are about to discover will help you whether you wish to advance your career, change career paths or to start a new business.

For an idea to generate wealth it must satisfy a need or exploit a desire.

To satisfy a need requires a product or service that offers exceptional value in terms of either quality or price.

To exploit a desire you need to present your product or service with style and passion.

The greater the need or the stronger the desire you wish to exploit, the greater the requirement for a big idea.

So how do you create a big idea?

The Best Place To Start

Start with what you’ve got.

Analyse your strengths, your abilities, your values and your beliefs. Write lists and strength test each of these assets.

Ask yourself:

“What am I really good at?”

“What do I really enjoy doing?”

“What’s important to me?”

“In what do I believe?”

Then strength test each of your assets.

On a scale of 1, a little, to 10, a lot:

“How good am I at…….?”

“How much do I really enjoy……….?”

“How important is my value of………..?”

“How strongly do I believe ……………..?”

Then, once you are clear about your assets and feelings, ask, “When I assemble all my strongest assets together, what product or service do they suggest I am able to offer?”

“What do I need to learn, improve or do to make my offering stronger?”

“Do I passionately believe that my product or service will benefit someone else?”

Once you have a clear description of your offering, the next question to ask yourself is: “who needs or desires my product or service?”

Soak Yourself in Understanding Your Potential Customer

Research your market, steep yourself in information. Penetrate deep inside the hearts and minds of the people who will be your customers.

Ask:

“Who greatly needs or strongly desires what I can offer?”

“How do these potential customers describe their need or desire?”

“How does their need or desire show in their behaviour?” “What do they say or do that shows their need or desire?”

Tailor Your Product or Service to Your Customer’s Need or Desire

The nest steps follow the same path as any other human relationship.

First you put on your best suit of clothes and approach your potential partner/customer. So you dress up your product or service to appear in what you consider to be the best possible way. You offer great value or exceptional desirability to a small number of your target customers.

Feedback, you measure their response and listen to what they say about your offering.

You then adjust your offering and present it to another small group of potential customers.

Once again you pay great attention to the feedback.

This process continues until you feel sure that you are presenting your product or service to your customers in the best possible way.

To get help with any aspect of this process you should follow the free Round Table Discussions and Free Webinars given by the Mentor/Coaches at The New Life Mentors. You can join free here.

Go For It!

You can survive, adapt and thrive.