The beauty of intellectual property development is that it doesn’t have to be complicated. Think about it this way. If your IP is geared around your strengths, then usually this means it’s something you enjoy talking about. When is the last time you had a great brainstorming session with a trusted colleague, friend or family member?

Sometimes we can become so fixated on our ideas and our business that we don’t give ourselves the room for a reality check. Some of the best ideas I’ve ever had, weren’t my ideas at all. They were ideas that evolved from the synergy in a room with two or three people.

Brainstorming is nothing new, but here’s a tip for you. Try brainstorming with an audio recorder. Whether you’re on a conference call or in your living room, use a digital recorder to capture your ideas. (Just make sure whoever is on the call knows they are being recorded because in some states, it is a felony to record people without their permission.)

You’d be amazed at what comes up in conversations when you aren’t focused on taking notes, but rather intently focused on dreaming about your ideas and actively listening to the other players who are brainstorming with you. The real treat is when you go back to listen to the discussion. Since your mind goes off on rabbit trails while your in the live discussion, you will pick up all kinds of new ideas when you listen to the recording.

Give it a shot…you’ll be amazed at what can happen. If you don’t have a way to digitally record your discussions, drop me a comment and I’ll share an easy way to set it up.

Cheers,

Steve Olds

Q: What do get rich quick schemes, microwave ovens and flawed business strategies have in common?

A: They all promote near instant results.

In my experience, one of the fastest ways to trash your business idea is to move too quickly. This of course, flies in the face of the gurus de jour who claim the internet and ‘instant action’ marketing strategies make up for old fashioned development time.

While it is certainly true that testing and development can happen much faster online, well thought out marketing and business development still operate best when pursued with well planned execution time lines.

This is especially true when adding new products and services to your existing product lines or creating new deliverables from whole cloth. Remember, it’s always easier to pick up the pace as you validate your marketplace assumptions. It’s usually a nightmare to slow down if you launch your product or service too fast.

In my former career as a fighter pilot, this rule was a cornerstone of aerial combat; “Take your time and get there faster.” In that game, the stakes were deadly serious. Every time I’d get in a hurry and try to make the F15 do something prematurely, I always paid a price.

In the game of business, I suggest this rule should guide our thinking and our actions. Ask yourself what’s driving your pace. Breathe through your nose and take your time.

Cheers,

Steve Olds