13 {{ upvoteCount | shortNum }}
13 {{ upvoteCount | shortNum }}

How many new ideas you try on average?

by yako
10 replies
Hello,

Lately I am stuck with this situation so I thought some experience from other affiliates might help.

I have many (many!) ideas but I am 'scared' of hiring people to implement them fearing they might not work...and when I try to implement them myself as I am more interested in strategy and decision than in what ideas involve (design, content, etc) I often move veery slow or drop them half way.

So...

What is your approach when you have a new idea?
How much risks you take in terms of investment?
You prefer to do everything yourself and move slowly or hire people and move faster to test things out? (even though you have the knowledge to do everything)

Anything will help!
Thanks!
#average #decision #ideas
  • Profile picture of the author jaggyjay
    Originally Posted by yako View Post

    What is your approach when you have a new idea?
    ~ Prioritize. Rank all your ideas. Find balance between what can bring best ROI in reasonable amount of time. Then start with #1.

    Originally Posted by yako View Post

    How much risks you take in terms of investment?
    ~ I believe there's an equation to help you figure out how much ($) and time you *should* invest; but I don't remember what it is. Either way - you don't risk 100% of your capital. And anything 50%+ is quite high (or risky). In the end, you need to give it some thought and see what terms are favorable for YOU. And always have an Exit Plan. Things can and do go wrong.

    Originally Posted by yako View Post

    You prefer to do everything yourself and move slowly or hire people and move faster to test things out? (even though you have the knowledge to do everything)!
    ~ You either have a lot of time or a lot of money. Hardly ever both. But, put a dollar ($) value on your time. Calculate how much ($) you make per hour; week; month. Now, calculate how much (time and $) it's going to cost you to do things yourself. If plenty of $ and time left over for you after calculations - then it may be worthwhile you do things yourself. HOWEVER, I learned a long time a go that doing everything yourself is rarely a good idea. Factor yourself out of your business as soon as you can. Outsource. You'll be more productive in long run.

    - Jay
    Signature
    {{ DiscussionBoard.errors[9597733].message }}
  • Profile picture of the author keystonecontent
    I try to look at what ideas align with each other and which ones are just a distraction. I find that if I choose wisely, I can coordinate many of my projects so that I often kill two birds with one stone.
    {{ DiscussionBoard.errors[9597776].message }}
  • Profile picture of the author watsonovedades
    become a master on creating funnels, create 1 per day even if you dont use it
    get use to create several funnels , LP, Ads, keywords and drop them into a folder on your hard drive

    Try to find a way to test most variations at the same time, this way you will spend less money on finding the golden nugget
    Signature
    Whatever your mind can conceive and BELIEVE you can achieve
    Follow me on Twitter - @DineroConPc
    I talk about Affiliate Marketing Methods
    {{ DiscussionBoard.errors[9597823].message }}
  • Profile picture of the author Avocado Plugins
    When I want to test out a new idea I use Jim Collins's way from Great By Choice.

    It says fire bullets then cannonballs - meaning allocated a small testing amount for ideas and then weed out the ones that don't work or don't work as well as the other ones. Get the top 3 and run with those by shooting a cannonball - meaning scale.
    Signature
    Let our lean, healthy and shredded WordPress Plugins make you more money... start here.
    {{ DiscussionBoard.errors[9598072].message }}
    • Profile picture of the author yako
      Thanks, so you would outsource those small ideas or implement/develop them yourself?



      Originally Posted by Avocado Plugins View Post

      When I want to test out a new idea I use Jim Collins's way from Great By Choice.

      It says fire bullets then cannonballs - meaning allocated a small testing amount for ideas and then weed out the ones that don't work or don't work as well as the other ones. Get the top 3 and run with those by shooting a cannonball - meaning scale.
      {{ DiscussionBoard.errors[9598079].message }}
      • Profile picture of the author Avocado Plugins
        Originally Posted by yako View Post

        Thanks, so you would outsource those small ideas or implement/develop them yourself?
        It really depends on the situation but for my specific case it is plugins and I develop the plugins with my team so no outsourcing all homemade (unless you look at your team as outsourcing which I don't personally since we are all on the same mission but I digress).

        So we would first think of an idea then make a free plugin out of it like a light version. Now we invested time which to us is more than money but still didn't invest lots of time so it is okay for testing the idea out.

        Once we have it we share the free plugin with people and see how they like it or what they would like added to it. Sometimes people don't like it at all and that's cost of business - but that's okay if you have already considered it and took measures to prevent real loss on your side.

        However once we find an idea that people like and connect with we then invest lots of time and energy building a premium plugin around the idea of the free one.

        That's how it works on our side specifically for you I am sure it would be different but still you get the overall picture and that's what really matters

        Hope it helps! Don't hesitate to ask more questions about it. Always happy to answer it.
        Signature
        Let our lean, healthy and shredded WordPress Plugins make you more money... start here.
        {{ DiscussionBoard.errors[9598091].message }}
        • Profile picture of the author yako
          Thanks! That was really helpful. I laugh when people think affiliate/online marketing is not a business, your reply just shows how business minded an affiliate or online marketer can be.

          Originally Posted by Avocado Plugins View Post

          It really depends on the situation but for my specific case it is plugins and I develop the plugins with my team so no outsourcing all homemade (unless you look at your team as outsourcing which I don't personally since we are all on the same mission but I digress).

          So we would first think of an idea then make a free plugin out of it like a light version. Now we invested time which to us is more than money but still didn't invest lots of time so it is okay for testing the idea out.

          Once we have it we share the free plugin with people and see how they like it or what they would like added to it. Sometimes people don't like it at all and that's cost of business - but that's okay if you have already considered it and took measures to prevent real loss on your side.

          However once we find an idea that people like and connect with we then invest lots of time and energy building a premium plugin around the idea of the free one.

          That's how it works on our side specifically for you I am sure it would be different but still you get the overall picture and that's what really matters

          Hope it helps! Don't hesitate to ask more questions about it. Always happy to answer it.
          {{ DiscussionBoard.errors[9598100].message }}
  • Profile picture of the author MWatson
    The best thing you can do is test test test. Not everything is going to convert the same (or well at all) but don't be afraid to make mistakes. I like to stick with one idea/niche and work with it until i have mastered it. Only then will I move on. Fail your way to the top!


    Cheers,
    Mark
    {{ DiscussionBoard.errors[9598130].message }}
  • Profile picture of the author svetod
    The only way for me to move forward is outsource as much work as possible and concentrate on developing my new ideas and strategy. So i would say to go for that, you're surely gonna lose if you never try/risk!

    Cheers, Svetlin
    Signature
    Want To Know How I Make Money Online? Read my story http://affiliate-lifestyle.com/
    Follow me on Instagram for Daily Inspiration & Free Tips: svetlintodd
    {{ DiscussionBoard.errors[9598607].message }}
    • Profile picture of the author yako
      You are right... for some reason I am afraid of investing a lot of money into testing all these new ideas but I guess you are right.

      I guess the "you miss a 100% of the shots you don't take" would apply here...its just a little bit harder to do it than to say it :p

      Originally Posted by svetod View Post

      The only way for me to move forward is outsource as much work as possible and concentrate on developing my new ideas and strategy. So i would say to go for that, you're surely gonna lose if you never try/risk!

      Cheers, Svetlin
      {{ DiscussionBoard.errors[9598773].message }}

Trending Topics