First off, I think it is best that we define exactly what we are talking about here. So, a good idea is one that most people around you would nod in agreement with, relatively unenthusiastically and concede that, “that sounds like a good idea.”
A great idea has the potential to change the world.
But that does not necessarily mean that it illuminates the imaginations of all those around you any more than the good idea does. If someone had told you about the idea for Facebook in 2001 you might have very well nodded and said, “that sounds like a good idea.” Whilst secretly wondering why anyone would want to share their entire lives online with a bunch of virtual strangers.
Like it or hate it, you cannot deny that Facebook did indeed change the world.
How do you test your idea’s greatness?
It is important to understand something at this point: many of the greatest ideas in history were met with distrust, amusement and even outright contempt. So, the approval of your peers is not always a trustworthy barometer.
When Netflix went to Blockbuster and offered to partner with them on the creation of an online video streaming service they were laughed out of the room. I do not have to tell you how that worked out for them.
Recognising a great idea is often as difficult as coming up with one.
As such, recognising your own idea’s greatness (or lack thereof) can be a challenging task, and we are all prone to our ego convincing us it is a great idea because, well, we came up with it, it must be!
In short, there is no easy answer. Sometimes your idea can be a great one, but perhaps several, or even many years too early (or too late). Plenty of visionaries have been ahead of their time and explored ideas that were not to come to any kind of fruition until centuries after their deaths. Just look at Da Vinci.
In order to avoid delving too far into the philosophical and the unsolvable, I will instead look at how you can turn a good idea into a great idea in the here and now. How you can stress test an idea, identify a true niche in the market and take advantage of it, and soon.
Turning good ideas into great ones
As far as business goes, there are two primary differences between good ideas and great ones.
Firstly, it is solving a genuine need in the market and secondly, it tells the story in the right way. As much as we all like to believe we are logical creatures, the truth is most of our decision making is driven by emotion. Tell the right story, in the right way and people will believe they decided to buy from you, not that they were sold to.
The most effective marketing in the world is based on telling the customer a story, a story that involves them and the kind of life they could be living, or the advantages they could have from using your product or service.
With that in mind, you could argue that one of the most powerful differentiators between good businesses and great ones is great marketing.
Just look at Apple – one could argue quite well that their products are no more superior to their competitors. But they have combined an incredible marketing approach with lifestyle and aspiration that causes their products to all but fly off the shelves.
Another thing that makes an idea great is its USP – this speaks to the genuine need in the market. That small point of difference, that little thing that speaks to the customer on a different level to that of other, similar ideas. Now, defining your USP can be an entirely new challenge in itself and it often involves a lot of market research – which can be long and arduous.
However, the same principle applies, in that no matter how good your USP is. If you do not market it properly it will likely fail to be recognised by your prospective customers. There is no point having the best kept secret in your business being the one thing that might convince your customer to buy from you.
Taking an idea to market
If you have an idea that feels right, sounds good and seems to be likely to meet a real need in the market then the main challenge you will face is getting that product or service to market in the first place.
If you have never done this before, or if your idea will take you into new and unfamiliar territory, we cannot advocate strongly enough that you bring in a third party of advisors with real experience in helping businesses develop ideas.
Your challenges will involve everything from building the right team of people, to generating the marketing approach, to defining the offering and everything in between.
For advice, help, guidance or to just have a general discussion about your idea, get in touch with us today.
Email us info@thealtitudeagency.com or call 0203 150 0565.
