0:01
Okay, the last point to just keep in mind is,
is what I said at the beginning of the week.
An idea filter does not generate ideas for you.
The idea filter is used to look at the collection of ideas that you
already have or that you're going to generate and
then you're going to put them through the filter.
So, number one the filter helps you find out which are the best ideas for
you and your team.
Okay and which ideas are probably not to be pursued by you.
Second, you're using that filter to find which factors are the weakest.
And on those weak factors you want to consider if you want a shape that.
You want to shape or pivot, or render, or whatever buzzword you want to use for
that, but you want to consider alternative pathways or
different ways you can make your idea stronger on that factor.
0:51
Interesting point here, stronger doesn't always mean easier to implement.
It often does.
Say, well this, how could we make this easier to implement?
But let's just consider that one way that an idea is weak is because it
doesn't have enough value or people aren't going to pay enough money.
So as you, you're doing that pre flight checklist and
you're running through, through your filter you're finding out,
that you probably can't charge enough money.
And one reason you can't charge enough money, is because it's not valuable enough
to people or the constituents don't see the value.
It's going to take you too long to sell these things, or
you're going to sell them to few a people?
So, in that case,
teams start to think, how can we actually make our idea a little more complicated.
We need to bring in a few more benefits.
So that people will actually pay more.
Or we need to shift over to a market that's a little more difficult for
us to understand.
But we, but it looks like people would actually pay more,
they have more pain there.
So it's, it's going to be a little more difficult.
We need to shift over there and learn more about that area.
So that we can, overall raise our, our price and, and
give us to someone who has more value.
1:59
Well, last point about your idea filter again is that you want to
find out where you just don't know.
Right, so when you take an idea through a filter,
where do you not know how to rate a factor?
You're not sure if it's a one or you're not sure it's a five.
Or maybe you're not sure if it's a three or a five.
So you would circle that factor and say hey, that's where we outta spend our time.
That's where we outta prioritize our next steps.
We need to go do some research.
We need to talk to some friendly subject matter experts.
We need to go talk to some friendly potential customers.
We've going to have to find out how we really score on this factor.
The factors you're real confident on.
You're confident they're good.
Then don't spend any more time right now.
You'll get back to them later but, right now, again,
this this concept of idea thickening going through these factors quickly and
find out where you need to get more information.
[SOUND] That's a key use for your idea filter.
All right, that concludes the assignment for this week.
It concludes this week.
Want you to have a lot of fun.
I hope you dig in.
Hope this really helps you out, I hope to hear about that in the discussion boards.
And I'll see you next week.
Mark WilsonLecturer in Entrepreneurship
