I created $100M in product ideas for a $15B+ Mexican bank.
7 tips to create your own business ideas:
7 tips to create your own business ideas:
1) Get ideas from other industries
Creativity is re-purposing ideas from other contexts
For example - look at best practices from:
• GEICO for customer service
• Apple for customer onboarding
• FinTechs (like Mercury) for partner ecosystems
Creativity is re-purposing ideas from other contexts
For example - look at best practices from:
• GEICO for customer service
• Apple for customer onboarding
• FinTechs (like Mercury) for partner ecosystems
2) Low-pressure environment
First product ideas should have no filter
Sharing your "worst" ideas with others can trigger them to think of the $1M idea
Don't pressure co-workers to come up ideas on the spot
The best ideas come outside of a brainstorming session
First product ideas should have no filter
Sharing your "worst" ideas with others can trigger them to think of the $1M idea
Don't pressure co-workers to come up ideas on the spot
The best ideas come outside of a brainstorming session
3) Make it easy to submit ideas
Share a template that's low effort for co-workers to submit
We want the most ideas possible
Give at least 2 weeks to submit ideas
Share a template that's low effort for co-workers to submit
We want the most ideas possible
Give at least 2 weeks to submit ideas
4) Incentivize ideas submission
For example, the person who submits the winning idea gets to:
• Choose the offering name
• Be a stakeholder
• Choose the logo
Get your team excited to submit ideas
For example, the person who submits the winning idea gets to:
• Choose the offering name
• Be a stakeholder
• Choose the logo
Get your team excited to submit ideas
5) Create new experiences
Create opportunities for co-workers to be reminded of a big idea
One way is to gamify an in-person experience:
• Write ideas on cards and tape to posters
• Place candy and toys around the rooms
• Walk to different stations
• Play music
Create opportunities for co-workers to be reminded of a big idea
One way is to gamify an in-person experience:
• Write ideas on cards and tape to posters
• Place candy and toys around the rooms
• Walk to different stations
• Play music
6) Apply guardrails
Ask co-workers to create revenue-generating ideas within different groupings
Makes it easier to think of ideas.
Example guardrails - group ideas by:
• Types of customer feedback
• Business strategy initiatives
• Product category
Ask co-workers to create revenue-generating ideas within different groupings
Makes it easier to think of ideas.
Example guardrails - group ideas by:
• Types of customer feedback
• Business strategy initiatives
• Product category
7) Ask peers with diverse backgrounds
Diverse backgrounds gets you diverse ideas
Make sure the people coming up with ideas come from different functions and levels
We hosted ~15 events and found that workshops with only senior leaders had the least original ideas!
Diverse backgrounds gets you diverse ideas
Make sure the people coming up with ideas come from different functions and levels
We hosted ~15 events and found that workshops with only senior leaders had the least original ideas!
TL;DR:
• Diverse backgrounds
• Share examples
• Simple submission
• New experiences
• Low pressure
• Guardrails
• Incentives
• Diverse backgrounds
• Share examples
• Simple submission
• New experiences
• Low pressure
• Guardrails
• Incentives
That's a wrap!
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1. Give me a follow for more on growing your business → @BrianFOConnor
2. Retweet the top tweet to bookmark it and share with others
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1. Give me a follow for more on growing your business → @BrianFOConnor
2. Retweet the top tweet to bookmark it and share with others
Here's the link to jump back to the top:
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