How do you generate and evaluate new ideas?

How to become good at ideation? 1. Reverse the assumption Reversing your assumptions broadens your thinking. You may often look at the same thing as everybody else, yet see something different. Many creative thinkers get their most original ideas when they challenge and reverse the obvious. Take Uber: The assumption was that you need to wave your hand to get a cab. Tinder: The assumption was that you must physically meet people first to start dating 2. Ask yourself what sucks? Josh Wolfe of Lux Capital talks about this question that he often asks on a daily basis "What sucks." Most of the discoveries and hacks were made because someone looked at the existing system & said well, that sucks.

Some triggers are unexpected! Look for inspiration beyond traditional sources. Everyday experiences, conversations, art, or even nature can spark unique ideas.

When you brainstorm, it's important to consider types of 'sources' for insights that are different from your usual 'available' insight sources. This will ensure the idea you arrive at is indeed 'barrier shifting'. For example, brainstorm with 1. People who are in a similar industry but not the same industry 2. People who are 'NOT' the supporters of an idea/ direction 3. People who are experts in their field 4. People who have failed with the idea

As an investor, I source ideas through rigorous market research, networking, and problem-solving. I prioritize addressing real challenges and encourage creative brainstorming. Risk assessment and validation play key roles, ensuring viability and customer feedback. Alignment with trends and scalability are crucial, and I evaluate teams for execution capabilities. This holistic approach aims for impactful, profitable, and future-oriented ideas.

In my experience, brainstorming and collaboration is the best way to create new ideas. I always come up with my best ideas after I brainstorm with a group. I do not always agree with the ideas of others, but I always come away with a new thought.

The best ideas are never obvious! They are seldom ready-to-use and often need improvement by adding-on, rewording, creating a concise vision to everybody to find general acceptance. From my experience that’s the challenge for good organised strategic leaders! They need to allow more creative spirits, Mavericks or more timid members of an organization to provide their often valuable input and improve base ideas to make them great! My experience is: Not all leaders are therfore able to recognize robust ideas and contributions but empathic leaders have much better chances to detect the golden nuggets 🎱!

Brainstorming Innovative Ideas is a Vital Entrepreneurial Skill For entrepreneurs aiming to innovate and solve market challenges, idea generation and evaluation are pivotal. But how do you ensure your ideas align with goals, passions, and resources? Consider the story of Jay, a tech enthusiast. He identified a gap in the market for a user-friendly language learning app. Passionate and resourceful, Jay sketched his concept, tested it with a small group, and iterated based on feedback. This real-life example showcases how combining creativity with practicality can birth and refine ideas. Below are few important techniques: 1. Mind Mapping 2. Reverse Thinking 3. Scamper Method 4. What ‘if’ Method 5. Role Reversal 6. Analogues Inspiration

Get them out there as soon as possible, most ideas die in the graveyard of ideas. If we think it could work, we must put the most basic version in front of people and then shut up and let them tell us what they actually think. We should ask as many people as people as possible whilst we continue to build then kill it if it doesn't work or run with it if it does!

Be and unconformist. The “way things work” is not final, there is always a better way. Take a step back, analyze the process and find the problem it solves. Now look new ways to solve it. Think of many. Mix up scenarios and knowledge: if you know about banking, find how agriculture can benefit from the knowledge/practices/solutions that banking has. Sometimes small problems will come up, sometimes really big ones (= opportunities).

Leverage techniques like mind mapping, SWOT analysis, and trend-spotting to identify emerging opportunities. To evaluate these ideas effectively, employ a multifaceted approach. Implement the "Three Cs": Compatibility (alignment with brand and goals), Credibility (feasibility and potential ROI), and Consumer Centricity (meeting customer needs). Utilize metrics such as ROI, customer engagement, and market share to quantify success. Rapid prototyping and A/B testing offer real-world insights into idea viability. Incorporate a "Fail Fast, Learn Faster" mindset, where unsuccessful ideas lead to invaluable lessons. Foster a culture that rewards experimentation and risk-taking, essential for staying ahead in the dynamic marketing landscape

Not every idea is going to be good. That's why you have to iterate and refine. Remember that evaluation is an ongoing process. Don't hesitate to iterate and refine your ideas based on feedback and insights.

As the adage goes ' Ideas are dime a dozen' .. Now, let's focus on evaluating ideas. Ideas could be anything - day light thinking, what if .. this was like what .. wishing , this is a problem... why no 1 solved it, this sure is unicorn level idea. Ideas keep coming to us, but it needs to put through grinder with blades chopping off - day dreaming to reality stuff, peeling off assumptions and talking to real users who validate its utility and more importantly pay for it. Is this scalable enough to become a viable business, can i do this better than others, is is this an idea who's time has come. Is this feasible, implementable, scalable and make money at the end of day. This to me would be the grinder test for the idea to take off...

For-profit entrepreneurs think if they don't take action on their idea, someone else will; not-for-profiters think that if they don't take action, no one else will! Neither is accurate. I learned from working with the prolific creator Jim Henson that most of your ideas will never be realized. And that's okay! So I evaluate ideas against two primary frames: my current strategy (mission, vision, values, annual objectives), and my available resources. Anything that doesn't fit within my strategic frame - or for which I haven't adequate time, money, talent, and energy - gets filed as a Not Yet idea in my Evernote app. Each is well-labelled, so I can retrieve it when (if) it becomes relevant and resource-able. #entrepreneurship #strategy

One important consideration when evaluating startup ideas is the kind of financing you want to (or maybe have to) rely on. If you want to go for venture capital, the power law rules – a few investments drive most gains. To catch VC interest, your potential for unicorn-level success is key. With a 10x revenue multiplier, you have to be able to get at least $100k yearly within VCs' ~10-year fund horizon. Is the opportunity you are evaluating big enough? Are there enough customers out there able to pay the price you are targeting? Are sales cycles and customer acquisition costs low enough to scale fast enough? If you don't consider this, you might end up with a business idea with no way to finance it.

Aligning ideas with the goals and objectives is the first and foremost priority so shortlist accordingly and then it is evolving with time and situation.

this paragraph seems to be generated by a talking parrot... each of the tools mentioned have different focuses... for me it's like mixing coconuts with apples!

Evaluating an idea is crucial to determine if it's worth pursuing. Here's a general approach: Alignment with Goals: Ensure the idea aligns with your goals and values. Feasibility: Assess if you have the resources to make it happen. Market Research: Check for demand and uniqueness. Costs vs. Benefits: Weigh the idea's costs against potential benefits. Validation and Testing: Test the idea and gather feedback. Competitive Advantage: Consider if it has an edge in the market. Long-Term Viability: Evaluate if it can stay successful over time. Decision-Making Process: Include others in a fair decision-making process.

The way I judge any idea is based on how it solves a business problem. All good ideas should fall into one of three buckets to make business sense 1. Is it solving any problem which is not being solved? 2. Is it solving a problem at least 10x better than the current prevailing solution 3. Is it solving a problem which people are not even aware of? (like iPad) If the idea falls into one of these buckets then we might have something meaningful at hand and we just need to ask if people will pay anything for this solution. We can rank all our idea and filter them and look at the one which we think can have maximum impact.

For startup founders, evaluating ideas is vital. Criteria like novelty, feasibility, desirability, profitability, scalability, and alignment with mission guide assessment. Novelty spurs innovation; feasibility ensures practicality. Desirability relies on market understanding, while profitable scalability secures lasting success. Upholding values maintains mission consistency. Streamlining through tools like matrices, scoring systems, and established frameworks aids informed decisions. This fusion empowers founders to prioritize high-potential ideas, steering toward innovation and growth.

Agree but also needs deliberated discussion with related stakeholders and other important people to reach at desired conclusion

By talking to your customers and understanding their needs, you can create innovative solutions. It's not just brainstorming; it's about getting real feedback from those who use your products or services. For example, if customers request gluten-free options at a bakery, that feedback can lead to new ideas like gluten-free pastries. This process ensures your ideas directly address customer desires, making them more likely to succeed and improve customer satisfaction.

The LEAN startup method for evaluating market readiness is a step I never skip! I recall too well that early in my career, the only way to test a market's interest was to get the product market ready and hope. Flipping the order to validate before building is far less expensive. And you'll be more willing to abandon or pivot if you aren't yet too invested in product development.

-Value proposition: how do you solve your customer's problem? Too often, the issue remains about the product, and the team that developed the product is in love with it and cannot comprehend why there is no demand for it. -Business model: that is very often a reason for failure. There is a demand for a portion of the service or product, or demand for a variation of the service or product but the leadership team is not able or willing to adapt their offering.

This might feel vanilla but for me customer discovery involves a deep dive of experience in your own product. The journey of discovery in the products purpose - avails the route to the client.

In Business Ideas this is the most important step!! DO NOT FORGET customers!!! In my experience try to find at least 3 potential customers and also their "customer journey" to discover the pains&gains of your business idea ;)

For startups, discovering customers is like finding a guiding star. It's not just about ideas, but fitting solutions to problems and finding the right market. Talking to potential customers, understanding what they need and what bothers them, and testing your ideas is a big part of this. You can do this by talking to them, asking questions, watching them, or trying things out. Also, think about using tools like pictures or profiles to see what you've learned. Another idea is using technology like online platforms or feedback tools to get more insights. This can help your startup find new paths to success.

Customer discovery is the compass guiding startups. Engage deeply with potential customers, uncover their pain points, needs, and desires. Listen intently, ask open-ended questions, and adapt your solution. Iterate swiftly based on feedback. Your goal: authentic problem-solution fit. This fuels a solid foundation for sustainable growth.

The cornerstone of generating and appraising new ideas lies in customer discovery. I believe that directly engaging with target customers, understanding their genuine needs, and rigorously testing assumptions provides unparalleled insights. From my experience, leveraging tools like the empathy map ensures a holistic understanding, ensuring our ideas are deeply aligned with market demands.

This is where your network and customer relations are going to shine! Select your top customers - those that like to work with you, are returning customers, have given you recommendations or references, are invested in your partnership - ask them if they would consider being a "test" customer. In exchange for their valuable feedback, be sure to offer them some recognition or compensation - it could be just a thank you, a reciprocal recommendation or reference, an early entry to your new product or service or you could offer a discount or buy them a cup of coffee.

When it comes to figuring out if your ideas are winners, talking to your customers is key. Customer discovery is all about chatting with the people who might use your products or services to see if what you're offering actually solves their problems or meets their needs. You can do this by asking questions, running surveys, watching how people behave, or even trying out prototypes with them. Tools like the empathy map or customer profile can help you organize what you learn and see if your ideas are hitting the mark. By listening to your customers, you'll get valuable insights that can make your ideas even better!

Prototyping and testing are very important, especially in a new business. A good example is Dropbox, a cloud storage company. Before making the full product, the founder, Drew Houston, made a simple video to show how Dropbox would work. This video was a "Minimum Viable Product" (MVP) to see if people were interested in the idea. The video was simple and cheap to make, but it showed what Dropbox would do. People liked the video, so Houston knew that the idea was good. He didn't have to spend a lot of money on a product that nobody wanted. The video also let him get feedback from customers, so he could make the idea better. The video was a quick and cheap way to test the idea and make changes if needed.

As with your original ideation, testing your prototype needs a variation of your target audience. This is the best way to correct for any biases you may have had when developing the prototype.

always test! and do it again! this is the most difficult step because the important thing is to fail, understand and improve. How many iterations have you created of your prototype?

As you advance, consider involving potential users even earlier in your prototype and testing phase. Engage them in co-creation workshops where they contribute ideas and preferences. This inclusive approach not only enhances early buy-in but also fosters a deeper connection between your solution and the users' needs. Collaborative prototyping can unveil unique insights, leading to a more refined end product. Remember, the best outcomes often spring from collaborative innovation.

Prototyping is a vital phase in product development. Start with a simple, low-cost version of your idea to validate concepts and gather feedback. Use tools like sketches, wireframes, or digital mockups to visualize. Next, create a functional prototype to test core functionalities. This can be a basic version of your product using off-the-shelf components. Test rigorously to uncover flaws and refine your concept. Iterate based on user feedback and technical feasibility. Remember, the goal is to learn, not to build a perfect product. A solid prototyping process leads to a refined and market-ready product.

I really love the concept of "MVP" the minimum viable product. It is so powerful. Just find a way to test on the ground at minimum development cost. I feel that when we do that in the end we end up with a very different product that we tought initially but much closer to customer need. And I personally find that very exciting. Sometimes, there is no better planning than just not planning and seeing what happens with real customers and real life. I find also optimisation very fun to do to. So once you found what customers like you can have fun optimising how you deliver.

When you've got some ideas you think are winners, it's time to put them to the test! Prototyping is all about creating simple versions of your product or service that you can show to your customers to see what they think. These prototypes can be anything from sketches or digital mockups to quick videos or even physical models. The key is to make something fast and easy to change based on feedback. Once you've got your prototypes, you can test them out with your customers to see if they hit the mark. Tools like the prototype canvas or feedback grid can help you plan and keep track of your testing process, so you can make sure your ideas are as awesome as they can be!

that something does not work and that has failures brings us closer to the best version... the important thing is not how many times you fall down but how many times you are able to get up.

As you embrace iteration and pivoting, consider a phased approach. Begin with micro-adjustments, building upon positive feedback. Gradually escalate changes as you gather insights. Moreover, embrace "reverse engineering" your product or service – deconstructing it to its core components and exploring alternate arrangements. This can spark creative solutions and uncover overlooked avenues. Pivoting isn't solely about major shifts; even minor adjustments can breathe new life. To navigate this, create a visual roadmap detailing pivot scenarios and potential outcomes. This methodical adaptation ensures you remain agile while propelling your startup towards optimal outcomes.

Iteration is the key to refining your startup's path. It involves making incremental adjustments based on feedback and insights gained from testing your product, strategy, or business model. Embrace a "build, measure, learn" cycle. Pivoting, on the other hand, is a strategic shift in your startup's direction when initial assumptions don't yield expected results. It could be a customer segment, product feature, or even the entire business model. Stay open to change, analyze data objectively, and be ready to pivot if evidence suggests a better opportunity. Successful startups iterate wisely and pivot strategically for sustainable growth.

Once you've tested your ideas with your customers, it's time to make them even better. Iteration is all about tweaking and fine-tuning your solution based on the feedback you get. You might make small changes here and there to see what works best. But sometimes, you might need to make a bigger change—this is called pivoting. It's when you decide to go in a whole new direction based on what you've learned. Tools like the lean canvas or business model canvas can help you keep track of all these changes and see how your ideas are shaping up over time. By iterating and pivoting, you'll make sure your ideas are always top-notch and ready to take on the world!

Acknowledge that progress isn't always linear. Celebrate the small wins, new insights, and lessons learned throughout the process.

Learning is the fuel of entrepreneurship. Continuously seek knowledge through books, courses, and peers. Absorb diverse perspectives to innovate. After each experience, reflect on successes and failures. What worked? What didn't? Adapt and refine strategies. This iterative process hones your instincts, leading to informed decisions and long-term growth.

Best Practice - Evaluate your idea on a small scale - Test your progress in the real world - Document the process and financials - Evaluate your goals and milestones - Focus on actual sales not projections - Work with all departments in your teams avoid silos

Coming up with new ideas and figuring out which ones are winners is an ongoing journey, not a one-time thing. It's all about being open to new possibilities, willing to learn from your mistakes, and ready to make changes when needed. As an entrepreneur, you've got to be curious and adaptable, and not be afraid to try new things. It's also important to take a step back every now and then to think about what you're good at, what you need help with, and what really drives you. You can do this by keeping a learning journal, doing a personal SWOT analysis, or just talking things out with people you trust.

Don't write for yourself. Write to educate, entertain and inspire your target audience. Develop content that solves problems for them and adds value to their life or business. No one wants to be sold to.

Flexibiltity - Focus on what is working and improvements - Ensure you have primary feedback from your customers - Have a back up plan - Remember to surround yourself with a team - Rest and take care of your mental health - Handle feedback with a positive mindset - Remember your vision and keep focused

Generally speaking, I believe good ideas have wings of their own. Answers are self-evident with time. Really good ideas are killed too early too often, as people judge or react before ideas are ready or matured. The AI-generated article above will kill whatever magic a good idea will have, for example, and I wouldn’t take its advice. As a start, I recommend asking: 1. What’s the vision, intention, and feeling for your ideas? 2. What type of idea is it? Is it visionary? Problem solving? Feeling-inducing? Something simple and small? Combo? The process to bring ideas to life with buy-in — and a sense of magic — will depend on the type of idea 3. If it’s a solution, what are you doing to ensure it is universally and inclusively designed?

Ignore all of the above. Solve a problem, entrepreneurship is about taking risks and seeing and believing what your gut says. There are many solutions without problems . Solve problems and you won’t go far wrong. If you are improving something make sure is a 10x improvement! Risks make the difference. Large organisations are not very well built for this. No project has ever delivered a massive step forward. Problems solving and market demand has. I genuinely cannot abide folk thinking you can make a process of entrepreneurship and risk. If you believe do it, and do it when your young . Good luck and never stop believing

Coming up with original ideas that align with your goals, passions, and resources is like being a mad scientist mixing creativity, strategy, and a sprinkle of luck in your idea cauldron. Testing and validating them is your entrepreneurial litmus test – it's like taking your idea on a trial run to see if it can dance without tripping over its own feet. Embrace the chaos, innovate fearlessly, and remember, even if your idea wears a tutu, it's the functional ballet shoes that really matter before the grand performance of investment.

What is the underlaying structure and how can this contribute to the well being of your self and others. If it can benefit you can see if there is resources/money/energy flowing within that idea and if not, is it possible to make it so? * Then make clear small steps and deliver before taking the next one. * Know where you going and be flexible on how. * Enjoy the journey otherwise it’s end goal will not satisfy you.

Tune in, feel more, focus on beauty and harmony. Try to see the reality in a form of a symphony of energy, where you can choose an unsensitive and stubborn path to play your own note regardless of how others are playing, waste so much energy and burn out, or you can be more sensible and successful. Try to sense the vibes, energies, focus what is beautiful and almost perfectly in harmony with everything around it and just by adding something it seems to miss on top of it carefully to make it perfectly beautiful and take the credit. 😎💫

To come up with and evaluate new ideas, make a supportive space that supports brainstorming and thinking across disciplines. Use technology to work together more effectively. Evaluate ideas based on how likely they are to work and how they might affect things. Get input from a wide range of stakeholders and build and test prototypes. Accept failure as a chance to learn and create a mindset of always getting better.

It’s key to document assumptions explicitly as a part of this process. As you test / eliminate / shift assumptions, ideas may be added or removed.

I think it is important for entrepreneurs to take time to think through an idea. They should be okay thinking about it, sleeping over it, brewing over it. Not everyone can come to conclusion quickly on everything. This is not a timed exam that you need to finish in two hours- so take your time to think through it. Also think about testing your ideas in whatever way it is possible without breaking too much sweat about it.