#327 Entrepreneurship & Business – S2 E4 – Brainstorming ideas

The best way to have a good idea is to have a lot of ideas.

Linus Pauling

Makes sense, doesn’t it? Someone might just go through his complete brain and figures out all the ideas there are. Write them down in a list and repeat that process over and over again. Until when? I guess until you have figured out an idea that is good enough!

Seth Godin once mentioned this in one of the Tim Ferriss Podcasts I was listening to. They met once a week at a special place and thought about possible business ideas together in a group.

Sounds exactly like the thing that I should implement into my life as well.

Do I have some ideas already? Sure I have, but how can I figure out if these ideas are actually good or not? Testing them? Sometimes not really visible, especially if there is a lot of money needed upfront.

I need more structure. I need a process that allows me to evaluate ideas and compare them with each other. I need to be able to filter them.

But how?

Being an engineer, I guess this helps a lot in order to change the perspective. We are claimed to be not really on the creative side of life, but rather on the organized one instead. We work with numbers, tables and figures that tell outsiders nothing, but insiders everything.

I may just create a table in excel and list down my ideas. One after the other.

But what kind of information do I need?

  1. An ID
  2. A name
  3. A short description
  4. The business model
  5. The risks
  6. The ratio between needed investment upfront and expected revenue
  7. How much I like the idea and would actually proceed with that.
  8. If that idea is something totally new or just improving something existing

Well, as we can already see, this list seems to get pretty long and boring. How likely is it that we will work with a table that contents things this? Yes, you are right!

We don’t need another thing in life that is going on our nerves! Life is supposed to make fun! It should be always nice and easy. No pressure, no hard work.

Just short, sharp & sexy!

Second attempt:

  1. ID (automatically created)
  2. A short description
  3. Category (APP, BOOK, Product, and so on)
  4. New or existing? (New, Existing)
  5. Does the world need? (YES, NO)
  6. Risk in numbers (1-3, 1=ok, 2=higher, 3=highest)
  7. Needed investment to start (1-3, 1<1000€, 2<10000€, 3>10000€)
  8. Want to do it? (1-3, 1=I like, 2=ok, 3=not in this life!)
  9. Income potential (1-3, 1=high, 2=ok, 3=low)

Better? Better!

In fact, way better! Good job! Let’s create a table than!

Draft

As easy as that. Wasn’t hard to create after all!

What’s next? Figuring out when, for how long and with whom.

An essential part of doing this is of course to find the right people that will support me on my journey. What I need is a team. Do you remember the mastermind theory? This is exactly what I need right now! I need like minded people. People that please my personality, people that aim for more in life, just like me.

But who is suitable for something like this? Basically everyone! It doesn’t matter how old you are, what your profession is, or whatever else people can come up with in order to differentiate themself. Each and everyone has a unique constellation of experiences, life stories and skills. The more different the team members are, the better it will work in the end, you will see!

But still, finding the right people is not that easy, is it? Do you know someone who might be interested in something like that? Just let me know!

Until I have find my team somewhere down the road, I guess I will just start on my own. Write down ideas that I have during the day and take a certain amount of time once a week to brainstorm even more ideas.

The future is yours, but only if you have the courage for the next step.

You want to join the business ideas brainstorming sessions? Get in touch!

See you next time!

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