Creative entrepreneurs like you and I often have the problem of TOO many ideas buzzing around our brain. So how do you know which ones to act on and which ones are just distractions?

Here’s a tip on a simple system I use to decide which ideas will pay off:

First, grab a few sticky notes or index cards and write down each idea on its own note/card.

Next, for each idea, ask yourself these questions:

1. Will this idea add money to my bank account (or add subscribers to my list)?

(Write down “yes” or “no” – no fudging or trying to justify – be honest, your income is at stake!)

2. If the answer is yes, then ask, how much and by when?

(Write down your numbers and date. Be realistic, not wishful thinking.)

3. If I don’t pursue this idea, what will I lose?

(Write what the downstream effect would be by not following through on this idea. Oftentimes, what you stand to lose isn’t that much, which means the idea does not carry much impact for you and your business.)

4. If I pursue this idea, what else–specifically!–will I gain?

(Be specific about what completing the idea will help you do next, and next, and next so you’re clear about it’s ranking and contribution to the growth of your business.)

Now sit back and look at your answers. Which ideas clearly have the biggest potential impact for you and your business? Which ones sound fun but aren’t really going to make a big enough contribution to increasing your income and your free time?

Give yourself permission to have great ideas that don’t ALL get acted upon. Better yet, give yourself permission to CHOOSE one idea right now TO act on!

That’s how I nearly tripled my income last year.

Love and brilliance,

Kendall

Related Posts

• What Holds Women Entrepreneurs Back from Following-Up on Their Brilliant Ideas

This entry was posted on Tuesday, July 8th, 2008 at 1:09 pm and is filed under Business Planning, Vision/Goals/Plans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.