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5 Important Characteristics an Idea Needs to Last

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People like to say that it’s not the idea that matters, it’s the execution. That may be true to some extent but even the best ideas will fail if they’re not executed properly. This execution takes time and resources, so if you try to execute every idea you have, you’ll probably run out of resources quickly.

Instead, it’s better to create a filter for your ideas. In other words, you should create a process to screen your ideas and determine whether a specific idea can last or whether you should leave it on the shelf and work on something else.

You see, there are certain characteristics of ideas that can last. If your idea has these certain characteristics, then it may be worth pursuing, and it may have a high potential for success.

Today, we’ll give you the 5 characteristics an idea needs to last:

1. This Idea Lights Your Fire

Your idea should get you excited. It should set you on fire. If there isn’t an aspect of the idea that gets you at least a little revved up, then it probably won’t work in the long run. Why not? Well, you probably just won’t have the stamina to keep it going. You’ll get bored with it and want to move onto something else when you hit the first bump in the road. This will be a recipe for failure and disappointment.

2. This Idea Has The Market

You can be super excited about your idea, but it won’t matter all that much if there’s nobody who wants to develop it. Not sure if there’s a market yet? Start by searching for similar products around your idea. If they don’t exist at all, or do exist and are not successful, then the market may be very small. However, if you see products thriving in the market, then that tells you this is something people want and are willing to spend money on.

“Business is war. I go out there, I want to kill the competitors. I want to make their lives miserable. I want to steal their market share. I want them to fear me and I want everyone on my team thinking we’re going to win.” – Kevin O’Leary

3. This Idea Stays Simple

In the hit HBO show “Silicon Valley”, the protagonist has a great idea but it’s a little too complicated for people to fully understand. He’s convinced that if only he can teach people its power, they’ll understand the true value of it. So, he hosts seminars and focus groups to do just that, yet this only results in more confusion for people.

If people can’t easily understand your idea, then they won’t understand the problem it’ll help them solve, nor how it’ll help them solve it. If it causes so much confusion that you have to explain it to them, then you’ll lose their interest quickly. Simplicity is best, and it paves the way for an idea that can last and be adapted by more people.

4. This Idea Gets Growing

If you create a great idea in a dying industry, then naturally it can’t last long. For example, if you created a fancy new interior design for horse and buggies back in the early 1900s, it might have success for a few years, but it would eventually die hard with the increased use of automobiles. Do some research on your idea’ market. If it’s growing, it has lasting potential, but if it’s stalling out, then it already has an expiration date before you even begin.

“The secret of business is to know something that nobody else knows.” – Aristotle Onassis

5. This Idea Sets a Scale

A scalable idea can grow exponentially without having to add exponential resources. This is the ideal situation. For example, if you create an online course, you can sell thousands of courses without having to work thousands of more hours. When your idea is scalable, it has potential to last longer and grow to high heights. If it’s not, it’ll eventually stall out when it gets to a certain point, and you’ll have to add in more resources for every level of growth.

Get Your Idea Out There!

A lot of people spend time working on ideas that never had a chance to work out in the first place. If they took the time to screen their ideas, they might’ve realized their folly before putting in the time and resources to execute them.

Instead, screen your ideas by checking for characteristics like these. If it matches up with all or most of these characteristics, than it has a higher chance of success.

What is the one thing holding you back from starting your own business? Let us know in the comments so we can be of service!

Image courtesy of Twenty20.com

Parker Davis is the CEO of Nexa, a leader in the virtual receptionist and technology-enabled answering services industry. He believes that the application of data analytics, investment in technology, and fostering a positive company culture together create highly efficient and scalable growth companies. In 2016, Nexa achieved record revenues while also being awarded the Top Companies to Work For in Arizona award. Parker is also the Managing Partner of Annison Capital Partners, LLC, a private investment partnership. Follow him @callnexa and on Facebook and LinkedIn.

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    amal

    Jan 3, 2018 at 4:56 pm

    Thank you for your message.

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Success Advice

5 Things You Can Learn From The 5am Club by Robin Sharma

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It has been said by Robin Sharma, “5 AM is the time of least distraction, highest human glory, and greatest peace.” This also happens to be the central idea or the core value he has discussed in his book, ‘The 5 Am Club.’ Speaking of early mornings, at what time do you wake up? Are you annoyed by the fact that you wake up on the edge of time and then rush to work in haste? 

The life lessons put forth by The 5 AM Club are exactly the learning and motivation you need to challenge your complacency. In your race against time, you may not have the time to read this fabulous book. So, we have summed up the key book’s takeaways for your convenience.

1. The vigor of waking up early

This is what the book’s most fundamental advice to everyone is. Waking up at 5 am every day can work wonders to avert failures and make success a natural habit. When we wake up at 5 am, we have more time on our hands than others. Besides, this is when we have minimum interruptions and maximum powerfulness of the mind. 

To add, the early morning peace is priceless! You can schedule your most important tasks of the day between 5am, and 8am. This book teaches us in the simplest way, how we can train our mind and strengthen it to deliver the highest productivity by waking up early. This energy that you have when you wake up in the morning and the few additional hours in your day are what serve as perfect ingredients for success.

“The secret to productivity is simplicity.” – Robin Sharma

2. The power of finding the right balance in life

The book talks about a precious lesson of finding the right balance within. We often talk about the need for mindfulness and achieving the right mindset to perceive things. But this book goes a few steps ahead of our usual approach to life. It highlights the vitality of mindset and introduces the concepts of heartset, healthset, and soulset.

These terms may seem new, but they are self-explanatory. The idea of heartset endorses the essentialness of emotional stability and well-being. Next, the perspective of healthset indicates the need to look after physical health. At last, soulset is an attribute of spirituality. As explained in this book, success prospects can be enhanced big time by achieving the right balance between these internal virtues.

3. The iconic 20/20/20 modus operandi

What is the first thing you will do if you start waking up at 5 am every day? Did you ever spare a thought about it? This book has the answer to this question, and you will be convinced that it is a great way to begin your day!. The author suggests that you should split the first hour of the day into three equal parts of 20 minutes each.

In the first 20 minutes of the day, you should prioritize your physical fitness and exercise. In the next 20 minutes, you should energize your soul and spirit via self-reflection and soulful meditation. This will prepare you for the rest of the day and will enable you to bolster your commitment and focus. In the last 20 minutes of the first hour, you should read and learn. But what are you going to read about in those 20 minutes? Read about successful people and their inspiring journeys to the pinnacle of success.

4. The significance of a proper sleep schedule

In this book, there is a mention of ‘a ferocious global sleep recession’, which is intriguing and enlightening. It hints at the state of sleep deprivation that this world is sinking into gradually. We often associate success and hard work with the notion of staying up all night and testing our endurance beyond limits. But that is not the right approach to accomplishing success, or rather, it is a flawed methodology.

Sometimes even if we do not have any critical work, we keep whiling our night time on social media or television. What are we gaining from it is the real question, and I am afraid the answer is nothing! We learn from this book that it is critical to look after your sleep cycle and start your day at 5 am afresh. Sleep and rest are indispensable for mental and physical well-being, or your productivity will decline.

“If you want to have the results only 5% have, you must be willing to do and think like only 5% do and think.” – Robin Sharma

5. The art of evolving

The book sheds light on the need to be spiritual and master self-reflection. However, do you realize the purpose that the routine of reflection each morning serves? The idea is to keep learning, keep reflecting on the mistakes and keep evolution an ongoing process. You should evolve every day and strive to be a better version of yourself every day. So, one of your primary goals after waking up should be to reflect on your actions and missed opportunities of the previous day.

To recapitulate, The 5 AM Club is a must-read book if you are a passionate reader. It has the prowess and charm to refurbish your perception of life altogether. Even if you cannot read the book for some reason, make sure you incorporate the above key takeaways into your life. By starting your day at 5 am, you can rediscover your lost soul and enthusiasm, and you would not have complaints to make about the lack of time. If you can own your mornings, you can go places on the ladder of success, for excuses are only for those who are not committed to their goals.

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Success Advice

Prepare Yourself for Prosperity With These 6 Success Habits

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Success stories don’t come from naturally successful people. They come from ordinary people with starry eyes and big dreams who stayed true to their end goal and consistently put in the work. They are just like you and me. What sets them apart is their mindset — a success mindset. (more…)

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Success Advice

How to Overcome the Emotional Rollercoaster of Success

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If you’re reading this, I’ll let you in on a little secret: you’re a human being. You have feelings, emotions, beliefs, complexity, and a mind that’s always racing. Your feelings at any given moment in your life have the power to affect what you do and how consistently you do it. (more…)

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Success Advice

5 Important Choices that Make Life Worth Living and Success Taste Sweeter

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As we start another year, you’re probably thinking about your life goals, dreams, aspirations, and what you want to accomplish. We know that New Year’s resolutions have gotten a bad reputation because most people lose focus after the first few months and the first signs of resistance. (more…)

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