Friday | February 10, 2012
How Smart Entrepreneurs Handle New Ideas
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By
Laura Tirello
12 January 2010
As entrepreneurs, we are known for being idea people. And, for many of us, the ideas are the most exciting part. But, when starting a new business, being an idea person can actually be a hindrance. In order to be a smart entrepreneur, you need to be aware of which of your many ideas is actually the best idea for your overall vision of your company. Without this knowledge you may be wasting your business’s productivity, time, and money.
It’s easy to get excited about a new product or marketing tool that has the potential to take you to the “sweet spot” in your business plan. It can seem so right that you stop everything else you are working on to focus on it. But does it have the staying power you need to incorporate it as a foundation of your business? Before you scrap your old idea/plan for a new one, take a deep breath and wait. Yes wait.
Look at your original plans and ask yourself the following questions:
• How long have you been implementing them?
• What kind of results are you getting?
• Will the goals you set happen in the long or short term?
• Are the hours you are putting in to it yielding good results?
• Could you increase your revenue by sticking with this plan?
See what kind of thoughts and new ideas come from reviewing your current plan. You might be surprised to find that there are ways you can improve your current plan without losing hours developing a whole new strategy.
Is that new idea still looking sparkly and bright to you? Maybe you realized your old plan wasn’t working well and a new one is in order. Avoid the “anything new” plan and really focus on something specific. Break it down into small parts so you can get a true sense of the time and work involved in this new idea.
• Does this plan make sense for the short and long term?
• Does it address what you want to accomplish with your business?
• Will you have the time to put in to a new project? (look at your current projects)
• Is it something your current customers will appreciate and pay you for?
It may feel like in order to move ahead and be successful you always have to take your ideas and run with them. That may be true, but running with the wrong ideas creates a mess that will waste more of your time in the long term. Slow it down and think it out. You’ll know a good idea when you examine all of its parts.
WIN A FREE LIFE COACH SESSION WITH LAURA TIRELLO
Answer this question and you could win a life coach session to help you get started in the New Year:
What is the most amazing thing you want to accomplish in 2010?
Email your answer to Laura@corelifedesign.com and she will choose one random winner.
The winner will receive a 60 minute coaching session from Life and Career Coach, Laura Tirello of Core Life Design. The session will be conducted by telephone at a time agreed upon by the winner. The session will focus on an area in the client’s personal or professional life in which they are seeking improvement. The client will be coached through their particular issue and given tools that may help them continue to create successful outcomes in their personal and/or professional life. The winner will also receive an email summary of the session from Laura Tirello.
You have until February 1, 2010 to enter. Winners will be notified by email by February 5. Include a working email address with your answer.
*YoungMoney.com reserves the right to publish your answer. You may request to be kept anonymous.
Laura Tirello is a Career and Life Coach. Her company, Core Life Design, works with people who are looking to find their highest potential both in their careers and personal lives. Are you looking for ways to turn your ideas into goals for 2010? I am offering a free teleclass: “The Idea Web: Choosing the Right Ideas for Your Success.” Email Laura at laura@corelifedesign.com to sign up or visit corelifedesign.com for more information
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