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Three Steps to Know you are Pointed Toward a Successful Initiative

November 12, 2012
Steps

Steps (Photo credit: susanvg)

In the last post, I spoke about Passionate Certainty, how do you know your passion and direction align.  Further, how do you take steps to develop an initiative personally or professionally?  To select an initiative, it takes thought and planning to ensure you are pointing your team in the right direction.  There are many layers below these steps, but they are, by nature simple.

  1. Assess – review as much information as possible.  In the start-up world its called market validation.  Who’s in the business, why, is this idea/initiative solving a real problem that people are willing to pay money for?  Does this initiative align with your company’s vision/mission (or your own?).  If you moved forward, what would you consider to be a success metric(s)?
  2. Analyze – drill your assessment into measurable metrics.  It could be features/benefits of the product, customer or expert reviews, or other quantitative or qualitative measures. The important part is to go through the exercise.  Write it up and report it to your team or a reliable peer or expert.  See if it makes sense when you say it out loud and you truly have an initiative that creates value in the mind of your audience.
  3. Act – Go out into the market.  See other products/services in action.  Talk to experts, ask questions.  If you have a demonstration item to present, have them look at it.  If not see if you can assess what your initiative can do to improve productivity or profits.  Do it on a small scale, measure it and determine if you can scale it.

One you “act” make sure it is on a very small scale, measure your success and go back to #1 before you decide to scale the idea.  Did it achieve your objectives, profitably (in your personal world, did it satisfy you and align with your beliefs system?).  If so, we are ready to move to Diligent Pursuit.  If not, a failure at this level is a success. Few resources were spent, and either a pivot strategy was developed, or you agreed to abandon the initiative in pursuit of a more attractive opportunity.

In completing a business development strategy, following these steps ensured our message aligned with our customers.  We assessed the market and its perceptions, analyzed our target customers and acted through interviews to ensure we it our target.  It works with concepts like marketing and products that serve customer needs.

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