How many times have you thought about your next idea and wondered, "Is this a good idea or a bad idea"?  Ever wonder if you could find out if your idea was a good one? Would it be valuable to have a formula by which you could test your idea?

All it takes is one really good idea, right?!  Well maybe one that's a Winner!  But to make it a winner you have to have some experience and capital to get your "Winner" to market, right?

As entrepreneurs, we are visionaries and as such have a lot of ideas, most of which are bad if we are honest about it.  So when do we let an idea go that isn't working and move on to one that is working?

Well, unfortunately there is no formula or hard and fast rule that lets you know whether you have a "Winner" or not.  However, there are some pretty good guidelines you can use.

These guidelines are all about the customer, and no one else.  If the expression of your idea makes the customer respond, that's good.  However, if the customer isn't willing to buy in to your idea, then that's a bad. Try your idea on a few close friends or aquaintances and get their response. Generally speaking, if no one is willing to accept your idea and write a check for your idea, it's a pretty good sign you have a loser.

Your goal is to quickly identify the bad signs so that you can give yourself an opportunity to bail early. There's nothing wrong with bailing on an idea if you've tested it with customers and you just can't make it work.

So you know there's a cost to anything, even a bad idea. Don't ignore the obvious bad signs, admit that you're headed in the wrong direction, then promptly change course.

Entrepreneurs recognize they have a limited amount of time to spend on any one idea.  Time spent on an idea that isn't working is time taken away from an idea that could be the "Winner".  Entrepreneurs also recognize there is a cost of time, so they understand when they have a bad idea, it's time to bail on it.  Don't keep holding on because you think you have too much invested.  Learn to do what true entrepreneurs do, Review, Process and Adjust. 

Yes, it's okay to make changes to your idea.  The real trick is knowing when to make the change.  Making a change it's giving up on your idea, vision or dream. The way you sort this all out is try as many options as possible and quickly discard those that don't work.

Just remember to REVIEW, PROCESS and ADJUST your ideas, visions and dreams.  No matter what others say, don't give up on your dreams.  And don't give up!

Wishing you the very best!

David L. Britt, MBA
Olathe, Kansas
http://www.davidlbritt.com/
http://www.heritage.net
http://heritagerealestateteam.com
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