I Have an Idea!

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The First Step to Make a New Business, Product or Service Successful

Me: Hey there! Glad to hear from you. How can I help?

Client: I have this amazing idea for a new product line…(gives me the rough-draft pitch and customer profile run-down along with some stats on where this market is going).

Me: Wow! That does sound like a really solid prospect for a new product line.  Worthy of a little time with a Social Good Canvas.

Client: Thanks! That is exactly what I wanted to know - if you thought it would fly.

Me: What’s your timeline? Have you market tested a prototype?  Happy to give your Canvas a review.

Client: Working on that right now. Should have preliminary feedback by the end of the month.

Me: Great! Keep me posted. Let me know where I can assist.

One and a half months pass. 

Me: How’s the preliminary feedback on the new product line looking? 

Client: Well… (proceeds to tell me a log list of trials and errors from talking with current and potential clients).

Me: What value propositions are you pitching to each of your client segments?

Client: We have… (ricochets around like a ping pong ball in a wind tunnel unable to provide consistent answers).

Me: Maybe I can help lend some clarity and customer connection? Would you like to talk it through or would you rather send me your Canvas and I can provide comments from there?

Client: <silence> Don’t shoot me. I didn’t think I needed a canvas. But, now I see I do. We are all over the place! I will send you one by tomorrow end of day.

HOW TO

Entrepreneurs and business leaders are full of truly great ideas. Frequently that is where the greatness ends. The idea never becomes a successful reality, because a simple strategy for the exploratory stage is never defined and organized. I know you are thinking ‘I don’t have time for a big old strategy!’ Your right nor should you. However, to operate with no forethought at all wastes even more time. P3’s Social Good Canvas is the happy middle ground.

The one to two page Canvas can be executed in a couple hours to a day.

It can:

  • Get you thinking through the basics of your idea so you are ready to define your idea for a market test with lessened risk.
  • Be updated as you grow, test, iterate or pivot your idea.
  • Provide guidance and focus when you need to make decisions.
  • Put your thoughts on paper ready to shared with mentors, investors, colleagues, clients and potential clients for review and feedback.
  • Reduces the risk of investing too much time, social capital or money on a concept that won’t work in its current form or at all.

Would you rather be a ping pong ball ricocheting around a wind tunnel for a while, or take two hours to a day of time to begin the journey to success?

Give the Canvas a try: Enter your email below and I will send you the For-profit and For-profit with Donors canvases to experiment your way to success.

TIPS

Don’t sweat the small stuff, only the mission critical. The Canvas should live, breath and grow with your organization with changes and updates as needed. These changes will come from testing your business model (product or service concept) theory with customers and partners. Some changes with be small iterative changes and others will be full pivots from your original ideas leading to the model adopted by your customers and marketplace.

Want expert advice on developing your new business, product or service? I am only an email or phone call away. Subscribe below to the newsletter for an insiders view to strategic, triple bottom line business growth and development. I share the insights and secrets that helped me become a serial entrepreneur and I have no doubt they will help you grow your business and impact the world.

Get going! You have success waiting for you.

FormationKellee Sikes