The most powerful tool for creating “Win, then Play” scenarios is Mental Capital.
Mental Capital exists within equity relationships as a belief between two or more individuals that a stated intention will be fulfilled as value creation in the marketplace.
The complete implementation of an idea can be funded using Mental Capital in a three-step process:
- Create a small team to produce an engaging product that serves as an initial gateway into a set of more extensive products and services (as-yet-undeveloped), which will be delivered in stages.
- Share the initial gateway with as many people as possible, who each pay for the more extensive set of products and services to come.
- Create a larger team to produce the more extensive set of products and services, developed and presented to customers in stages.
Using the idea you have analyzed and defined in the preceding three stages of the Idea Optimizer, which I outlined in the previous three posts, and answer the following questions related to the idea’s Mental Capital:
- Is there any way you can implement this idea with little to no input of time, money, or resources? How can you do it with as little input as possible?
- Who on your team has a purpose that aligns with the implementation of this idea?
- How can this idea be systematized?
- Who do you know that would perceive these ideas as an opportunity?
- Who will pay up front for the future products or services that result from this idea?
- Based on past interaction, who will trust in my recommendation enough to get involved in this idea?
- How can you create and promote this idea such that the most people would hear about it in the shortest amount of time?
If your idea is now well-defined, potentially profitable, and engages your purpose, implement the idea in your business over the next three months.
Creation begins with an idea. Using a form, that idea is turned into a concept. This concept is communicated to a team in a way that inspires their full commitment, and transforms the concept into an opportunity. This opportunity is tested in the marketplace with only a small initial investment of input. If the marketplace is willing to pay for the products of the idea, the systems for delivery of these products can then be perfected to achieve maximum efficiency.
Within the next 10 days, run five ideas you have implemented in the past through the Idea Optimizer. Identify those ideas that didn’t make sense to move on and those that did. What did you find? Of those that are in existence today, how can they be improved with the new insights from the Idea Optimizer? Talk to others to establish the Mental Capital required to achieve output from this idea before investing input.
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