What you need to know about your friends idea.

Everyone has ideas. As a matter-of-fact most start-up ideas sound great in theory. The issue is the person that delivers the idea to you may not be the person that can effectively execute it (which is why the idea is being shared with you in the first place) and you may not have time to help as you may be tied up with your other priorities. Either way is great to find out if the Idea Deliverer (ID) is serious about his or her idea especially if they would like you to get you involved.

Here is a test to find out:

  • Ask the ID the budget amount for this idea. This may not be a concrete number however any number would be great. You just want to find out if some thought is behind the idea. No budget means no thought. Keep it moving!
  • Find out if the ID wrote the idea down or at least have a clear idea of what the next 3 action steps will be. Again, another thinking question. Most ideas stop after the verbal delivery.
  • Make the person accountable for something. Put the ID to work to show you that they are serious about the idea. Production Executive are notorious for asking ID’s to mail to their office audio, video, bio and information about their ideas. Interesting enough 90% of the time  a package never is mailed. “Success only comes before Work in the dictionary”.
  • Ask the ID about the people on their team. More importantly get information from the ID about the individuals background and experience and how their skills can benefit the idea. This is a quick test to find out where this idea is going without waisting a lot of time. If the team members have no productive clue on how to accomplish the idea then the ID has a lot of baggage on board the idea train.

Learn quickly how to filter through start-up ideas that people market to you. The next start-up idea you get from that person will be well thought out and will “Give People a Reason to Talk about You“.

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