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After our podcast ranked in the top 20 in multiple countries around the world, we knew we could turn it into a business. Wanna know how we did it?
This second part of this series offers insights on gathering data and how to turn this valuable data into actionable opportunities.
Join us as we talk about the process of refining ideas, identifying patterns, and developing a problem statement to kickstart your expression of interest.
Did you miss part one? Listen to that here first!
Your gathered data might seem scattered. To make sense of it, employ sensemaking techniques. Whether it’s post-it notes on the wall, a Word document, or an Excel spreadsheet, organise your insights. Group similar patterns, surprises, contradictions, and pain points. Embrace the chaos and transform it into structured knowledge.
Condensing your findings into a problem statement is a pivotal step. Express it as “My customer/user needs to…” and define that need based on your surprising insights. Identify specific problems derived from consistent pain points. This concise problem statement will be the foundation of your expression of interest.
Now, the fun begins with ideation. Aim for quantity over quality initially. Set a time limit to brainstorm ideas for solving the specific problem you’ve identified. Encourage radical thinking, pushing boundaries beyond the obvious. Moonshot ideas and blue ocean thinking might surface. Don’t edit; let creativity flow freely.
After generating a pool of ideas, it’s time to sort them. Utilise tools like Post-it notes or online ideation platforms to give each idea a ranking. Use colour codes to signify preference – red for favourites, blue for radical potential, and green for quick wins. Alternatively, organise ideas based on effort versus benefit, distinguishing between quick wins and longer-term solutions.
Select the top ideas and start building prototypes. These prototypes will be the tangible embodiments of your solutions. Test them with real users to gather valuable feedback. This iterative process allows for refinement and ensures that your solutions align with the identified needs and problems.
As you sort ideas based on effort and benefit, consider your implementation strategy. Are you aiming for quick wins that bring immediate results, or are you investing in longer-term initiatives that promise substantial gains down the road? Tailor your approach based on your business goals and priorities.
In summary, the journey from insights to actionable opportunities involves sensemaking, problem statement development, ideation, idea selection, prototyping, and a strategic implementation plan. Embrace creativity, leverage insights, and turn chaos into a roadmap for business success. The Bega Valley Shire Council Virtual Business Boost Workshop + Resilience Session has provided the tools – it’s time to wield them effectively.
Tune in next week for the final episode of this 3 part series, when we’ll discuss how to test and validate your idea for success.
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