How Smart Entrepreneurs Handle New Ideas

     As Entrepreneurs, we are known for being idea people. That’s the most exciting part, the ideas. But this can be a hindrance when starting a new business. In order to be a smart entrepreneur, you need to be aware of what is the best idea that will fit into your overall vision for your company. Without this knowledge you are 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 seems so right at first 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 to 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 really 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 I want to accomplish with your business?
  • Will I have the time to put in to new project? (look at your current projects)
  • Is it something my current customers will appreciate and pay me for?

      It may feel like in order to move ahead and be successful you 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.

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 on “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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