Saturday, October 2, 2010

The Process of Finding Standout Ideas

How do you know if you have a blockbuster idea? As an example, is my Trading Journal idea a standout idea?

Some people have said to "just get started" on your idea and you'll discover if it's a blockbuster idea. Is that the best move? I read an article The Idea Virtuoso... that touts the process that university professors of research labs use to find the best idea. Having deep knowledge and expert feedback can differentiate between mediocre and great ideas. This reminded me of Dr. Johnson being awarded a grant to research the smart grid. What was his process to settle on that idea to get awarded that grant?

It seems like meeting with a group or team to brainstorm and discuss all ideas are needed to identify the best possible projects before getting started. This commitment to understanding the idea and seeking feedback will help you follow ideas you feel have a strong possibility for success.

It's called the idea-centric approach. You research your ideas to discover if there is an audience out there that sees value in an idea. When the standout idea emerges, the focus of your efforts goes toward implementing that idea. In this approach, you need to learn or know the field and seek expert advice.

2 comments:

aaron said...

ah man. sounds like you need to get into grad school. ;)

dng said...

I want to take a project from idea through implementation to distribution. Such as creating a web application and putting it online for people to use. Will grad school prepare me for that? I checked out Hawaii's ICS grad program. It looks good and some of the classes look interesting. What is the GRE about?