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Ideation to Incorporation: 4 Simple Questions to Help You Implement a Good Idea, Identify a Bad One, and Know The Difference

by Corey M Brenner

Course Description: Do you have a great idea, creation, or concept, but don’t know how to turn it into a business? Maybe you’re already putting together a startup, or perhaps, you’re just juggling a few concepts that might one day lead to something.

In our workshop, we’ll discuss how to use your own independent skills, needs, and gifts to identify an actionable idea that is realistic and fits within your personal values. We’ll discuss what it takes to implement a good business idea, how to identify a bad one, and strategic methods to help you recognize the difference.

Pre-cursor: Come in with ideas.

Intro: Ideation is great, but it doesn’t mean great business. -Every company starts with a great idea, but a great idea for someone doesn’t mean it’s a great idea for YOU, and even your great idea isn’t necessarily a great BUSINESS idea. -Walk through 3 ideas people have pitched that couldn’t move forward.

Independent Work: Organizing and prioritizing, based on your current view of actionable ideas. -Write down 5 ideas. Maybe one is something you’re already working on, maybe one is something you just think would be cool. If you can’t think of one, use an example that already exists. --Identify your Highest 1 for interest and ability. Identify your Lowest 1 for interest and ability. -Now list the following: --4 Values --4 Skills --4 Fears/Needs --4 Gifts/Unique Assets

Now we’ll look at The 4 Startup Questions, re-evaluate your Highest/Lowest choice and share with the group

Lecture: The 4 Startup Questions 1. Is this concept something the world or an identifiable market truly needs? 2. Is this something that CAN be done in a way that nobody else is doing? 3. Is this something YOU personally can do, given your background, education, physicality, resources, and network? 4. Is this something you’d be HAPPY doing for a long time even if it didn’t make a lot of money?

*4 Yes responses = Immediately do your idea. *4 No responses = Also great. Save yourself time, money, and energy by not doing your idea. *Mixed responses = What makes a Yes, what makes a No. Analyze independently.

Group Work: -Form groups of 3-5 people (depending on workshop size and table layout) -Discuss your Best idea based on your skills, education, hobbies, and the 4 Startup Questions -You’re not required to answer these now, but feel free to use them to fuel your discussion:
--What do you need to start your idea? --What would hinder your progress? --Do you need someone else to do something and how important is that? --How many components can you NOT do independently? --Is your target audience subject to change based on age, interests, climate, or season? --Is your competition based on many small companies or one large monopoly? Can you identify it? --What would be your Key Performance Indicators of success? --What would you enjoy most about your company? --What would you enjoy least?

Homework: Think of an Elevator Pitch and a Brand Identity -Within the next week, think of several things that are essential to your company and how that could be used to create a company title based on brand priorities. -Write a 1-2 sentence Elevator Pitch summing up what your company does and why.

Intermediate

Corey M Brenner

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