Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!

The Idea to
Profit
Relationshi
p
Anastasia Valentine
Chief Strategist
Sandbox An Idea to Launch Company

Hashtag #WIBN
Follow - @AVV @SANDBOXPM

YOU WILL NEVER LOOK AT
INNOVATION OR IDEATION
THE SAME WAY AGAIN!

Painful
Exhilarating
Costly
And extremely
FUN to work on.

All About
I’m an award-winning product strategist, CEO of
Sandbox, with over 20 years achieving bringing ideas
and products to market in the high-tech, music, fashion
and retail industries.
I work directly with amazing solopreneurs,
entrepreneurs, and small, medium and enterpriseclass companies across the globe.

Sandbox, is an award winning boutique marketing
agency delivering strategies, services & support for all
sizes of organizations from idea through to launch
across the globe. Taking the role of your extended
team, Sandbox PM will play a hands on role in your
success in introducing your company, products and
services to the market.

Copyright ©2013 ANVIVA International Inc. Distribution and reproduction in whole or part not permitted without written consent.

This Workshop is Soci@l!
Share the love!
 We‟ve created tweetables for you!
 Share the knowledge!


You will leave this session
with:
A sustainable business practice to
profit from your business ideas.
 A solid strategy to validate your
business investment in new
products & services.
 Clear method to make GO or NO GO
decisions
 A plan to build & grow your
business through ideation!


We‟ve got some biz
problems…







Too many ideas
Overwhelmed
Not enough resources
Not enough time
Unfocused & non productive
Need revenue generating streams

There is a solution….

“Too many ideas is a great
business problem to have!”

“Ideation is a passionate
business affair”
“Don‟t fall in love with an idea…”

Then & Only THEN, do you seal the deal!

“ALL Ideas are Valuable
NOT ALL Ideas are Profitable”

“Your idea inventory is just as
valuable as your customer &
prospect list.”

Mind Maps
Ideal for right
brained business
people
 Creatives




Manual or Digital

Mind Map example from Personal Brain www.thebrain.com


Spreadsheets




Ideal for left
brained business
people
Analytical
Thinkers
J.K. Rowling used this manual spreadsheet to map out the Harry Potter Adventures



Manual or Digital


Idea/Vision Boards



Perfect to combine
analytical & creative


Sustainable Ideation
A regular business practice
 More important than your email
list




Action Items:
◦ ASAP!
 Create your idea inventory

◦ ALL THE TIME
 Have a way to capture your business
ideas

◦ QUARTERLY
 Visit your idea inventory to evaluate your
next big thing.

Tap into your idea inventory for
“low hanging fruit” ideas during
business downtimes.

Common Idea Investment
Mistakes
Invest too much to soon
 LOVE GOGGLES – Blind us from
reality
 Wrong timing
 Not enough time to deliver high quality
 Doesn‟t feel right



Why Business Ideas Go
Wrong
Not market ready
 Market not ready for the
product/service
 Market won‟t bear the price
 Saturated market – no differentiation
 Well has run dry….
 No love



Idea to Profit Path


Let‟s Get Acquainted – Dating
Ideas


Triage your ideas:
◦ Group them into categories
◦ Identify trends
◦ Group like ideas together for more
valuable, powerful & viable offerings.
◦ Choose 5 that stand out
 3 big money ideas
 2 low cost / high return ideas


“People who like you, will listen to
you.
People who TRUST you, will do
business with you”

Soci@lize It!
No point investing in something that
won‟t pay off.
 Action Items:


◦ Find at least 10 people who represent
your „Perfect Fit‟ customer.
◦ Talk to them about your ideas
◦ Share your vision
◦ Listen, learn & improve


Why You Soci@lize an Idea


Validate:
◦
◦
◦
◦
◦
◦

the need or want
content / features / deliverables
benefits & value
cost / investment vs. return
price / pricing model(s)
your return on investment / profit

Test your product/service
 Build your community
 Get endorsements & testimonials



Who to Soci@lize With
Existing Customers
 Friendly Trusted Potential Customers
 Business Partners
 Inner Business Circle / Mastermind
 Investors



What you Learn from
Soci@lization
Who your „Perfect Fit‟ customer is
 What it takes to for the idea to be
profitable
 How much to invest
 How much to charge
 What you make per unit
 How much you need to sell


Bottom Line:
Is it worth continued investment?

“Be Ruthless! Make Go/No Go
decisions based on facts.”

GO!
Perfect Fit customers
identified, ready &
waiting
 Meets a strong need or
satisfies a want
 Price point works!
 Return justifies the
investment
 Community is growing,
positive buzz is building


NO GO!
Unclear on target or
customer fit
 Market uninterested
 Value not clear
 Price point unattractive
 Investment exceeds
return, investment (time
& $$) not available.
 It doesn‟t “feel” right.


Go / No Go Decisions are
Good Business Decisions!

“If you aren‟t making a profit,
you are running a hobby not a
business.”

It‟s a GO! It‟s LOVE!


Take the opportunity to:
◦ Refine the product or service
 Make it better, dig deeper!

◦ Get customer testimonials & rave reviews
◦ Leak some details & stir the pot

Engage the media, influencers
 Plan a launch event online and/or in
person


Then you are ready to launch!

It‟s a GO! It‟s LOVE!


Action Items:
◦ Engage in “exclusive pre launch” activities
 Don‟t use terms like pilot, beta, soft launch –
implies unfinished, mediocre, buggy, not real

◦ Refine your product or service. Add Value!
◦ Get customer testimonials & rave reviews
◦ Arm your inner biz circle with info & tools to
make you (and them) successful!
◦ Package it up & wrap it up in a bow!


Launch It!
Seal the deal with a fabulous launch!
 Gather your supporters
 Share their words
 Create an offer they can‟t refuse
 Celebrate your success


Make the commitment for the long haul to continue the momentum!

Next Steps
1.
2.
3.
4.
5.
6.
7.
8.

Create your idea inventory
Choose your top 5 ideas
Soci@lize them with trusted sources
Move forward with the top 2 or 3
Refine ideas into products & services
Revisit your idea inventory during
downtimes
Pre launch to a select community
Launch to the public

Keep Us Posted!
Keep US POSTED!

My Gift to YOU!









$240.00 Value
1 Year Access
Weekly Biz Tips
Monthly Online Biz
Building Events
Ongoing support
Exclusive
Community
Exclusive Offers

Visit us:
www.sandboxpm.com

Follow us:
@sandboxpm & @avv

Email us @
info@sandboxpm.com


Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!

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Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!

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