When should you turn an idea into an execution?

“I've got a great idea….”

I have heard this so many times and each and every time it gives me butterflies in my stomach.

The anticipation, the excitement, where will this go…..

I can tell you, it goes one of two ways.

I fall in love with the idea and i will fight until the ends of the earth to make it happen or it will leave me feeling flat.

The difference always comes down to the impact, the why, the commerciality, what it will deliver.

As a start-up with limited budgets you need to be ruthless when it comes to making sure that you are investing your time, money and energy into things that actually will move the dial and deliver a return.

At a very simplistic level, I have a very quick and easy test that I evaluate ideas against 1) will it make us famous 2) will it make us money.

To do this I use a 1-10 scoring system, anything under 7 is passed on put in the bottom draw, and then anything over 7 in either category will be further scrutinised on the specifics- why will it deliver, what exactly will it deliver and how do we measure success- all the nitty-gritty.

But to ensure that you are not succumbing to shiny new ideas syndrome, make sure that you also evaluate any ideas against the plan that you already have in place.

I would love to know how you evaluate your ideas?