Is your product idea good? Top 3 Ways to Know for Sure!

Ever had a product idea and wondered if it was any good?  Whether you are an engineer, an MBA, or a stay-at-home mom, these 5 tips will help you answer definitively whether your idea is good… or not!

Tip #1: 
What is your goal?  Do you want to build it for yourself or friends or sell it as an idea?  Do you want to start a full business or just make some for side-money?
Depending on your answer, good has different meanings… And tip #1 is essential to answer before you go any further.
Three possible answers make your product idea good:
Sell the idea!   Stop.  Nobody buys ideas.
Start a real business.  Yep, step 2.
Make some for side-income?   Okay, but tread carefully to step 2.
If this is a lark, stop now and proceed to hobby lobby!
Tip #2:  
Who cares?
Really, is there anyone who cares about your idea?  Does it solve someone’s problem or is otherwise desirable by some specific kind of customer?
If not, stop.   Someone, some specific demographic, the smaller the better, must care, have the problem, or otherwise desire the product, or else, stop.

Tip #3:
Can you sell one and for how much?

I don’t mean build one then sell one.. I mean sell one!

The best way to know if your product idea is good, and the TOP TIP to know for sure if your idea is good is to PRE-SELL it!

Literally, setup a 2 page website where page 1 introduces the product, page 2 accepts a pre-order.  If you can get a few pre-orders, go ahead a build *a few*…
You could also do this with Kickstarter or Indiegogo, but those services expect bigger ideas and a real budget for video/marketing/etc.  Instead take the money you make on the first few orders to build some…. then build a few more… once you’ve sold 100, go ahead, do your kickstarter!

Good luck!

Go out and SELL!  Sales is the only way to know if your product ideas is good or not.

Now, back to my Smart Watch idea….

Unlikely Sources of Professional Creative Inspiration

This summer at Oklahoma State University in the PhD in Business for Executives program, me and my fellow teammates did a preliminary study into the sources of Professional Creativity in the workplace.  Our goal was to try to begin to understand how and where professionals become inspired for creativity.  We uncovered some interesting results…

Below, have a look at our final presentation to get a deeper understanding of our study (my co-authors agreed to allow me to publish this on my blog). We interviewed 8 professionals, 4 who work in ‘traditionally creative roles’, and 4 who work in what many might consider ‘not very creative roles’…

Here are some of the big surprises:

  1. All 8 of our informants thought they were highly creative… leading us to think that role doesn’t matter in terms of how people perceive themselves as creative.
  2. Most of our informants found themselves to be “Struck by Deep Creative Inspiration” while OUT OF THE OFFICE!
  3. Common activities that generated creative ideas were: walking, exercising, sleeping and bathroom activities (showering, brushing teeth, etc.).
  4. Common locations for inspiration were: outdoors in nature, bathroom, and relaxing with friends.
  5. One surprisingly insightful moment was when one of our informants mentioned the idea of “vulnerability” as a catalyst to inspiration… this idea seemed new and worthy of further study…. looking at our commonalities between informants we saw many examples of this vulnerability: showering, sleeping, etc., and could not find any prior research that explored the topic of vulnerability helping to inspire creativity.
What about you?  Where are you when you find that ‘inspiration’ strikes most often?  Driving? In Bed?  I’d love to hear from you in the comments below.

How to Brainstorm Effectively

Most people suck at Brainstorming.  Most companies suck at Brainstorming.  Through experience and study I have collected a set of ideas/methods that will teach you how to Brainstorm Effectively.

Brainstorming is the process of thinking up new ideas for a challenging problem or question.  Usually, the problem has already been considered for some time, but the answer is not obvious, or is out of bounds of some constraints.

Effectiveness in Brainstorming means that the number of ideas generated were high, and that at least one idea was selected as a good one, and that when implemented, the idea worked to solve the problem/question.

Here’s my collection of ideas for how to Brainstorm effectively:

  1. Choose a Diverse group with as many Experts as possible to help you Brainstorm.  People with Diverse backgrounds, diverse life experiences, and from diverse cultures will bring more unique ideas. Experts are people with 10,000 hours of experience in their field.  In business, at least one person with Marketing Expertise, and at least one person with Engineering Expertise is ideal.
  2. Get in the right frame of mind: Have everyone on the team do something to try to get them into a creative frame of mind.  Stretch, go to a fun location, play a game, think like you are a kid… something.  BRAINSTORMING IS SUPPOSED TO BE FUN!!!  (Fun unleashes creativity).
  3. First ask everyone to Brainstorm Individually.  Have them write at least 3 ideas and send it to you.
  4. Now schedule a meeting (at least 2 hours, 3 hours is ideal; and have it span a lunch hour).  Plan to bring in food or go out as a group.  [this downtime is essential to the creative process]
  5. Open the meeting with “THE BRAINSTORMING RULES”… (write them on the wall)
    1. You MAY NOT Criticize ideas or even say “I like that”… save all comments till the end of the Brainstorming.  WRITE: “No Criticism”
    2. However, you CAN AND SHOULD build on ideas that others have put forth.  Write: “Build on Ideas”
    3. You SHOULD say many ideas, no matter how crazy.  Write: “Quantity and Crazy Desired”
    4. Keep it “light” and Fun!  Write: “Make it Fun”
  6. Start Phase 1 (out of two): 
    1. Write some of the ideas that people had individually on the board.
    2. For 30min to 1hr… ask the group to throw out ideas… and write them on the board.  If people get stuck, ask the question differently, or ask about a sub-part of the question… don’t give up after just a few minutes.. force the team to give ideas for the full time.
    3. Break for lunch…  [eat as a group]
    4. Resume the Brainstorm for an additional 30min to 1hr.  (because of the break, there is likely to be another burst of good ideas!).
    5. If the board gets filled… take a picture and clear some space and keep going.
  7. Finish now with Phase 2:
    1. Ask the team to vote for their favorite ideas…  let them pick three, put a * next to the idea for every vote cast.  During this phase, ENCOURAGE DISCUSSION about the ideas (but not about ‘who gave what idea’).  Remind the team that its not about ‘who’s idea is better’… only than that ‘we’ got to a good idea.
    2. Now look at the board… what is the best answer?  Is it feasible?  If not, why?  Either brainstorm on how to make it feasible, or see if the 2nd best idea is better in light of considering Feasibility.
I hope this helps in your Brainstorming!  Let me know if you try this and it works?  Also let me know what you do, if it’s different than my ideas here.