Someone once told me that “idea people” aren't hard to find, “what’s hard to find is people that can execute their ideas.” I would take that one step further and say, the person to find is the one that can decipher what ideas are the best to move forward with, and what needs tabled or eliminated—and why.
If you opened a business you are probably an idea person. You were able to visualize how to connect the dots on all aspects of your business —and you even executed those ideas. In my book, this makes you a virtual super woman!
If you are thinking of opening a business, or if you have one open, you may be getting tons of free advice from family and friends. As an idea person, you may also spend time daydreaming about new ideas. Ideas, ideas, ideas are flooding in and your notebook is chocked full. However, you only have so much time. I’m about to introduce you to what I call a back pocket tool that will help you with all those ideas. This tool is super simple to jot down on paper—let’s run those ideas through the matrix.
I have used this tool in the Awesome Collective of Covington and in both of our businesses.
HERE IS HOW IT WORKS
As a business owner you may have a limited amount of time available to execute ideas and you may have a tight budget as well. I want you to think of time, people, and money as resources. And I want you to think of impact as profits, brand strength, or give backs.
Using the matrix above, take your ideas and decide with quadrant they fall in. This makes it easier to decide what to move forward with.
GO FOR IT!
The High Impact/Low Resources Quadrant
Are they projects and ideas that require a low amount of resources, but are going to have high impact? Those are virtual no-brainers. Execute them!
The Low Impact/High Resources Quadrant
Are these ideas going to take you tons of resources and have very little impact/pay off? Leave those behind.
THINK A LITTLE MORE—KEEP IN YOUR NOTEBOOK TO CHECK BACK
The low/low ideas and the high/high ideas may take a little more thinking to decide whether or not they should be done. You may want to refer back to these after you execute those low resource/high impact items. Giving it some time may undercover some new resources to apply to these ideas.