A great approach to turning your idea into money is to P.E.E. (Plan, Execute, Evaluate)
Plan – The planning stage is the easiest. This is where you let your creative juices start flowing and you decipher your million dollar idea (ok ok, at least 100k for all you slackers). Write down what resources are needed and the steps necessary to getting to your end goal. You want to have a detailed plan with milestones along the way. If you can break down your idea into small pieces, then the thought of accomplishing it will not be that hard. The journey of a thousand miles starts with one step. This step is also the easiest to get stuck on. I took the time to list the most common reasons because if you see yourself trapped in one of these excuses, figure out why and move on:
1. I want to have a perfect plan that is flawless and risk free.
2. Man this is a lot of work. I didn’t know it would take this much effort.
3. I know I can do this; all I have to do is do it. But never gets around to doing it.
4. You work on your idea every now and then, put it down for a couple months, and then try again.
Execute – Execution is the key ingredient. Nothing can get done without action. During your planning phase make sure you mark each of your action items. Develop a task list and make time each day to work on these tasks.
Evaluate – To review one’s work is the most under-rated steps in this process. However, this is very critical to achieving your goals. Doing weekly and monthly reviews allows you to see what worked and what didn’t. This way you can go back and change your process. In order for you to get better, make more money, or whatever, you have to review yourself. Piece of advice: stay honest with yourself.
If you notice, the framework of P.E.E. is how we already go about our daily lives. One example is going to the grocery store: you plan the trip, decide what you need to buy. Go and purchase the items, and then make sure you got everything once you get home. So taking it an applying it to a larger scale should not be as hard. The bigger the idea, the more planning, execution, and evaluation that needs to be done. FLAME ON and GO HARD and you will like your results.