It’s often said that all you need to get yourself out of a pickle is one new idea. But how realistic is this? It may be a series of new ideas that you need. You might come up with a new idea and it may not be accepted. A brilliant new idea might be ahead of its time. Take the MP3 player, for example. It wasn’t until the Apple iPod that digital music players became popular. An MP3 player had been introduced years before but hadn’t taken off.
One needs to be sceptical.
Not cynical, but sceptical.
Even if you come up with a new idea, it’s not really worth anything unless it is implemented. Implementation requires determination, hard work and resources. Unlessyou develop an idea and take it you all the way through implementation all you have is an idea.
Your idea willl need to be tested in a small market pilot to see if it really has what it takes. It’s no use placing all your bets on a new business idea only to find out that it doesn’t have market demand or, even worse, it is rejected because of falls shor, it is too new or it has something missing. Testing can require time and money. But there are low-cost ways to test.
The point is that new ideas can hold potential value but they need to be materialised before they can work for you. Until your new business idea is developed into a project with a specific plan for its implementation, testing and commercialisation, your new idea is nothing more than an idea.
Also remember that new ideas take three times longer to action than you think and cost twice as much as you envisage.
If you come up with a new business idea, then give it all you’ve got but remember to do your homework before you get too excited about its potential.