An Idea is Worth a Dollar; A Strategy is Worth a Million

An Idea is Worth a Dollar; A Strategy is Worth a Million
June 3, 2010 Neil Kennedy

I once heard a man say—and have quoted it often, “One idea can make you an income for the rest of your life.” That is certainly true—if and only if—the idea has a strategy.

How many times have you had an idea that you do nothing with, only to see it prominently displayed on the shelf at Wal-Mart?

Someone else is making money on the ingenious idea that once belonged to you. The difference is that you had a theory, while they put it to work.

Solomon noted, “He who works his land will have abundant food, but the one who chases fantasies will have his fill of poverty.”

A fantasy is expecting a future that you haven’t sown a seed for. An idea is a seed, but a seed is worthless until it is released to work.

Steps for Strategic Thinking:

1. Clearly write or draw the idea.

Put it down on paper. Process it through the filter of the vision. You must have a rendering, a picture that you can see.

2. Punch holes in it.

What is wrong with it? Address the issues of the idea. Is it workable? Are others already doing it? Why is your idea better?

3. Define the real value of what you are offering.

Does it solve a real problem? Does it serve others? Do people really need this? Will people exchange their money for your idea?

4. Create it.

Bring your idea to fruition, but don’t over invest in the development of the prototype. Some people have spent their life savings on an idea that wasn’t worth the pursuit.

5. Test it.

Ask people if your idea is worth pursuing. Determine if they are willing to pay for it. If they are not, it is not.

6. Capitalize it.

Do you need others to invest in it? If so, what is their return on investment (ROI)?

7. Market it.

How are people going to hear about what you have? Is it important enough to get the attention of people? Is it a niche item or idea?

8. Manage it.

Does the idea require your personal oversight? Can you release the idea to others, yet still make your money?

My wife, Kay, created a pillow called, Pillow of Promise. Her idea was birthed out of a burden to minister comfort and healing to people. She crafted a prototype with the embroidered word HEALTH on the front and a pocket on the back witch contained a booklet with scriptures of healing in it. She sold thousands of pillows. It was an interesting process as we manufactured them in Pakistan. After selling out of the Pillows of Promise, we put it on hold due to the political climate and trouble in Pakistan. We still receive testimonies on how a simple idea ministered to people.

An idea is worth a dollar, but a strategy is worth a million.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*