HOW TO GO ABOUT IT

1.

Consider the company vision and goals

• Which ideas will help to make the most progress towards achieving the goals and realising the vision?

2.

Compare the benefits of each of the ideas for new markets, products and selling points

•  Which ideas o er benefits that will help to achieve the strategic goals?
•  Which ones o er the greatest benefits?

3.

Compare the risks of each the new ideas

• Which ideas have the lowest risk?

4.

Investigate competition

•  Try to avoid markets with more competitors
•  Where competition is inevitable, do you have a different selling point compared to the competitors?

5.

Look for clusters of ideas that work well together.

• For instance, several ideas may require ’sustainability’ as a new selling point or focus on a particular new market and so would be a good cluster of ideas to implement together
• Try to avoid selling adding selling points that conflict with other selling points e.g. di cult to implement ’low cost’ and ’quality’ or ’innovation’ at the same time.
• Try to avoid too many new selling points as it requires significant time and resource new implement just one new selling point.