Yesterday I told you how to come up with great ideas. Today, I want to let you in on a little secret – and that is that some ideas are not great ideas, even when they appear to be. It’s important to try to sort the really great ideas from the ones that are not so great. Sometimes you can do this with a little research. Other times it can be done simply by thinking things through. Let me explain.
About a year ago my company, Up & At ‘Em Publications, was a product oriented company which offered pre-written booklets to the medical and business communities. Then, I came up with what I thought was a great idea. Instead of just offering products, I would expand my business and offer services too. But, I failed to really think it through before I implemented it.
What happened was the new services slowed down my business. It took alot more time and effort to find clients for my services than it did to get customers for my pre-written titles, and even still more of my time to deal with those clients and perform the services for them. I blamed myself for not making it work, but the only thing I was guilty of was implementing a bad idea. I didn’t consider the cost in time it would take to make the idea a success, and my business suffered because of it.
To make matters even worse, I implemented another bad idea on top of the one I was already struggling with. I decided to expand my services.
All of this changed my business from a tightly focused one to something I hardly recognized. It made it very difficult to market my products and services because I had too many different markets I was trying to reach at the same time. And the drain on my time was the worst, just trying to keep up with it all.
In the end, I knew I had to either market these two very different sides of my business separately (a very expensive proposition in both time and money given that each side had within it several sub-markets), or let one side go and focus only on the other side. I agonized over the decision for days. I knew the custom side of my business was bleeding out all my time, but I had a good list of clients and prospects that I had worked hard to create.
After a few days, I woke up one morning and knew I had to give the custom side of my business the ax. I swung it swiftly and cut out that time cancer that was plaguing my business. And do you know what happened next? I felt relieved!
We all have ideas that are not great ideas, though they may seem to be at the time. Maybe it’s a bad idea because it will take too much of your time, as was my case. Or maybe it’s an idea that isn’t feasible because it will cost too much, such as trying to reach too many markets at once. Thinking things through will prevent these ideas from stealing your time and money.
As a booklet author, you will have some decisions to make regarding the ideas that come to you. You’ll get ideas about topics and new markets and all kinds of things. Be smart and think about them. Research them if you can before you jump in. After that, if you still feel it’s a great idea, give it a try. But, if you see a red flag, proceed with caution or drop the idea all together. You’ll save yourself a ton of time and money this way!
To your riches!
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