How To Choose The Right Good Idea

For those of us who are entrepreneurial at heart, good ideas are a kind of currency that we collect throughout our lives and eventually invest to build a future for ourselves and our families. And creative entrepreneurs may find this endless stream of good ideas to be motivational and productive, or they can seem overwhelming. How can I possible achieve all of these things? How do I know which good idea is the right idea to pursue? These are common questions, and ones that can derail and frustrate even the most experienced business owner. If you find yourself in the position of having too many good ideas, and you’re not quite sure where to start, I hope these tips will help you navigate this big decision.

Cast A Vision For Your Future

Every idea is a good idea if you don’t know where you’re going. This is a trap that many entrepreneurs fall into early in their careers. Your endless stream of creativity can be your greatest asset or your most frustrating curse when your dreams lack direction. Sit down by yourself or with your team and cast a vision for your life and for your business. Be detailed and clear, this vision will become a filter through which you view all of your new ideas. Does this idea help me achieve my goals? If it does, let's work through the details of how we can achieve it. If not, shelf it for later or move on completely. Either way, you know that now isn’t the moment.

Take Note Of Good Ideas

Not all good ideas are meant for today. When good ideas bubble up, the excitement alone can make your idea feel irresistible. I believe this happens because the early stages of a good idea are the easiest. They’re all creativity and no reality and you may have the feeling that anything is possible. But, since you already set a vision for your future, you can tell immediately whether or not this idea is a good fit. If it is, by all means, work it into your plans. But, if it isn’t you don’t have to say goodbye to it forever. Start a notebook of good ideas that you can jot down in detail and return to at a later date. This way, your thoughts are on the page and you can move on without fear of forgetting.

Be Realistic About Your Investments

Of the tons and tons of good ideas that drift into your mind over the years, there will be some that you reject because they aren’t the right fit, there will be some that you continue percolating and refining, and others that you move on immediately. Some of these good ideas will relate directly to your business and others won't. Some will help you reach your goals, and some will be purely fun. For instance, if you own a car dealership the goal of starting a charity golf tournament may not directly move the needle in your business but that doesn’t mean it's not worth the investment. Its most important to remember to weigh your investments of time and creativity against your priorities. When that tournament starts taking away from your productivity in business or in your personal life, it suddenly becomes a good idea not worth chasing.

You’ve come up with many great ideas in your career, some of them are what brought you to this moment in your life. But not every great idea is right for you. One of the best ways to ensure you’re chasing the right ideas is to have a good team around you. If you’re unsure about the strength of your business ideas, you should be sure to have a strong team of bookkeepers and accountants at your back. For more information about Fix-It Accounting’s services, give us a call today.