Since there are some tremendous online sales techniques that mask the true challenges of taking your idea and accelerating it into a profitable reality, we’ll begin to address key questions you must be prepared to answer if you want to take your concept to the next level.

The first question is one that is frequently overlooked. Most people don’t even think about it because they don’t consider it relevant to the evaluation of their idea, concept or model. Question one is the cornerstone of the process.

What are your goals?

Most people simply give this short shrift or laugh when we ask this question. Why? They say the answer is obvious. I want to increase my revenue so I can grow my company, spend more time with family, retire early and all of the other pat answers to a question about what you would do with a big raise.

But that’s not what we’re talking about. A business plan executed correctly will yield a financial increase. That’s a given. In this process, you need to think smaller. Yes, smaller. Break this down into bite size chunks.

What are the specific project goals that must be accomplished to begin turning your intellectual property into income, profit and equity? If you were going to write a project plan to start the process, what would come first? What are the fundamental goals that you need to set before you should even begin?

We find most people tremendously underestimate the work involved in executing a plan to take IP in one form and translate it to a new deliverable, especially online. Here are a few examples of smaller initial goals:

- Begin and complete a market research analysis

- Determine a fair market value for my product / service

- Build a prototype and test it

- Take my proven off line product and survey existing clients to see how they may improve it or use it online

- Decide how much time can I afford to dedicate to this project and determine the opportunity cost of that time

What we find interesting is that when you set a goal like this, which is very tactical, it forces you to pay attention to details that many people overlook when they have pre-existing confidence about their IP.

The good news about your initial goal is that you can drill down and find out what’s most important to you at this point in time. Before you move on to answer the second question, you can add to your list of goals, cross some off the list or start with what you believe to be the top priority.

The key word is START. Most people with great ideas and strong IP never turn it into income, profit or equity because they never start! Setting a strong, simple first goal is enormously important. Don’t underestimate
the power of a small, clear, first goal.

I look forward to your comments and talking with you real soon.
Cheers,

Steve

Steve Olds
Founder and CEO
www.STRATWORX.com