Many a great idea crash and burn not long after they have been introduced to the market. Why do some ideas succeed and other, seemingly unique and novel, ideas fail? Could it be that there is a recipe for success that some entrepreneurs follow and others disregard, to their own demise?
City Yange’s Geoffrey Ekongot spoke on the four most important, or should we say hats, that the entrepreneur must don in order to present a well thought out idea/ product to the market.
City Yange’s Geoffrey Ekongot speaks to the WoV ladies on Creativity
Hat 1: The Explorer: Every budding entrepreneur will need to don this hat every time they start to develop an idea. This is the stage when you seek for inspiration from different sources such as publications, events or conversations.
Hat 2: The Artist: All the inspiration collected in the Explorer stage need to be arranged into a coherent idea. Several ideas may arise from this stage.
Hat 3: The Judge: Any idea that isn’t evaluated is doomed for failure. At this stage everything and anything that will be important and necessary to the success of an idea in the market place needs to be addressed. This will involve everything from suppliers to specific market demography to the timing of the product release. For every arising issue you will need to don the two previous hats.
Hat 4: The Warrior: This stage is broken down into two parts.
The Foot Soldier requires you to actively be a part of of the production, marketing and selling processes of your idea. You might need to don this hat for a while as your idea finds its footing in the market place.
The General is when you take up the position as leader and foresee both the long and short term planning for your idea. You are not as actively involved as the foot soldier but you are not also completely removed from it.
If during the development of an idea, one of these steps is overlooked it might lead to the failure of it. Be sure to write down every stage you are addressing for your idea and you are sure to bring a great product into the world.
