Ideation, Validation and Monetization

Transcript

Hi there, it’s Peter Winick. I’m the founder and CEO at Thought Leadership Leverage. And here’s an idea that I want to share with you today. And that’s this.

Here’s the process that I see a lot of thought leaders go through to get their ideas out into the world.

Number one, first phase: ideation. This is the part that everybody loves. It’s creative. It’s throwing ideas out there, popcorning the ideas, whatever terminology you want to use there, but coming up with a lot of ideas, right?

A subset of those ideas—and this is the next phase—they’ll put through some level of validation. Now that could be at the level of academic rigor. It could be at the level of testing out a concept or an activity in a workshop or a module in a keynote. Whatever the case may be. But let me validate that the idea that I have actually resonates with the people that I want to serve.

Now the last piece—and this is where not enough thought leaders focus enough energy—is: how do I monetize?

So how do I go from ideation to validation to monetization?

And my argument is that if you put 20–30% of the effort on the monetization side that you do on the ideation side and the validation side, it will change your business. It will change your practice.

It’s just not an area that enough thought leaders spend enough time putting the thinking into it and experimenting and all the things they do on the idea side—they don’t do on the monetize side.

So love to hear your thoughts on how you break down your time expenditures against ideation, validation, and monetization.