How to Develop Better Business Ideas

by Loreen Sherman, MBA

Business Leaders Think!

Expression of thought is a very important factor in organizational development. Thought leads to ideas which in turn leads to new product development, new solutions and new ways to gain a competitive advantage. New ways to express products... New expression for new services...

What Challenges Are to be Faced in Thought Creation?

The structure of many organizations prevent research and development because of limited funds and resources. Another challenge is that the levels of communication are complex to get grants, loans and additional help. This complexity can create a confusing platform that many are intimidated by.

Challenge 1: Organization's Internal Structure
Creativity can be curbed within the internal structure of some organizations. Sometimes creativity gets lost in the confusion of the organization. For example, when an organization is compartmentalized it faces the problem of losing the thoughts from each of the people employed within it. Perhaps, because the people have not learned how to communicate their ideas because of a lack of attention, from fear or from repression. Many employees are not secure in their job positions and fear that expressing ideas could cause repercussions. Or another possibility is that the idea is lost because it was not included in the job description. Fear of over-stepping or not being appropriate may reduce organizational creativity. Did you know that leadership development addresses these limitations in order to have free-flowing communication.

Challenge 2: Resources are Not Optimized

Thinking is a natural state of mind but brain-storming requires structured and unstructured thought. Knowledge preservation is important to capture meaningful engagement from all considerations. For example, a team member may have a proposal idea but if the idea is not expressed within the proper frameworks then it will not be considered. Expression requires frameworks. This is one of the main reasons why many firms are unable to take advantage of their innovation or creativity. Too often the human resources are not optimized.

Challenge 3: Knowledge and Information Capture Not Stored Adequately

Many ideas are expressed but are not followed through. The end goal of a brain-storming session is to have results. Measurable and attainable results. Knowledge capture must record and administer measurable steps to implement the ideas created; otherwise the creativity within the organization is lost.

List of Action Steps to Store Your Next Organizational Leadership Idea

(2) Assign a level of priority to the idea.

(3) Assign a date of action for employment of idea.

(4) Determine who the best stakeholders are to discuss the idea with.

(5) Schedule follow-up discussion to determine benefits, costs and risks.

(6) Ask if the new idea is in alignment with your organization's values and mission.

Many Ideas But How to Pick Choice Ones?

How profitable will your idea be? Are there buyers or people interested in your product, if so, how many? This question is a good starting point to begin your market research.

Do you need help with your market research? Loreen Sherman is a business consultant familiar with University Market Research and is able to help you with yours. With over 20 years of industry experience, let her reduce costly mistakes from using the wrong approach or determining the wrong question.

Don't delay get the help you need to improve your idea! Call 1.877.896.7292 and ask for a free 10-minute consultation with Loreen Sherman.