You have literally hundreds of them. They come up while you’re talking with the management team, or one of your employees, or even at home with the family. Late at night when you’re working on a last minute project. At a conference or seminar. On a plane. In the car. You’re constantly coming up with something that will really set your business apart – even in a small way.
Sometimes you write them down. They’re on your phone, a scrap of paper, your conference notes, a document saved on your laptop. Other times you promise yourself you’ll remember it later, but you don’t.
A few of them you implement, and you’re glad you did. But the vast majority of them go absolutely nowhere. They stay on the post-it note, or get shoved into a bottom drawer of the desk. The conference notes get thrown in the trash. You remember the idea and are too worn out to put it into practice. You give it to someone on your team who does nothing with it (or doesn’t do it the way you wanted). And in general your business continues on just as it has for the last five, or ten, or twenty years. And you’re still doing okay in business.
But what about the other 90% of your brilliant ideas? The ones that never saw the light of day?
We call it ‘FTI’ – Failure To Implement. It’s the curse of the entrepreneur. New ideas come so thick and fast, you barely have time to make them happen.
So here are a few of our suggestions for avoiding FTI:
Have some way of keeping your brilliant ideas together. A file on your desk, a note on your phone, a document on your desktop, an ideas board online. No matter where you come up with your idea, put it somewhere that you can merge it later, so it won’t be lost.
Review them regularly. Include it as an item in every team meeting – let everyone put their great ideas onto the pile. Take an hour out every month to go through them.
Get some accountability. Meet regularly with a coach or adviser, and your great ideas won’t get lost – or left undone. The best adviser won’t tell you what to do – they’ll draw out what you already want to do in the business, and help you make it happen. Talk to us if you want – we’re here.
Keep attending events – seminars, webinars, live events, conferences. Anything that will help you tap into what’s out there, what’s available, what others are doing. It will also draw out your brilliant ideas even more quickly.
There’s so much more to cover that we’ve invited Paul Foster of the Business Therapist to be our guest speaker as we discuss FTI and some key ways to prevent it in our upcoming Business Builder webinar. Take the time to register – you’ll be glad you did!