What is your idea worth?


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Visit our website for more at: http://website.co.uk

There are lots of designers out there who don’t want people to use WordPress when designing a website and they will tell you that it’s a blog, it’s not secure, it’s slower than a well built website, you need to keep updating it and many more negatives, but there are also some great reason to use WordPress too and here are a few, over and above the fact that it’s free to use. http://website.co.uk

Simply put a blog is content set out in what are called “posts”. These posts are designed around a subject and should, in my opinion, present information in a more relaxed fashion and also be easy to read, helping the reader in some way, not necessarily just selling to them. Also with a blog, things tend to be structured by date as well as subject, so a bit like a journal and always evolving. http://website.co.uk

Talking of free hosting, there must be something in it for the provider, so make sure that you are happy with what they are doing to fund the free service they offer if that’s a route you are thinking of taking.

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What is your idea worth?

  1. 1. WHAT’S YOUR IDEA WORTH? If you want a Million $ or even Billion $ business here’s my guide to how this can be achieved. I know were are in the UK and should use £‘s as our measure but people like to use $’s as it sounds more money.
  2. 2. MY DEFINITION OF AN IDEA To me it’s a “feeling” that an item or action, when planned and executed, will achieve a desired outcome.
  3. 3. COMING UP WITH AN IDEA We naturally do this every day. But the more you consciously apply yourself to doing this the better you get at it.
  4. 4. THE VALUE There is no simple rule but here’s how I see things... P.S. valuations are subjective and can never be an exact science so don’t hold me accountable if you are given a value that doesn’t follow my guide.
  5. 5. A “BAD” IDEA This is worth nothing to me and I assume other investors too... Value £0
  6. 6. A “BASIC” IDEA This is worth very little to me and to most investors... Value £1
  7. 7. AN “AVERAGE” IDEA This is worth something to me and maybe to investors... Value £5
  8. 8. A “GOOD” IDEA This is worth a bit more to me and those that invest in ideas... Value £10
  9. 9. A “GREAT” IDEA This is worth money to me and most investors... Value £15
  10. 10. A “WOW!!!!” IDEA This is worth taking seriously but still has a very low value... Value £20
  11. 11. IDEA VALUE So as you see, the value of an idea is extremely low, it’s not going to make you rich and famous overnight...
  12. 12. BUT ...there is a way to turn very little in to fame, fortune and notoriety; here’s how and the sums I think about.
  13. 13. STEP ONE - THE BUSINESS STAGE Depending where you are on the delivery curve there are multipliers you can use on the initial idea value.
  14. 14. STEP ONE - THE STAGE You have just though about the idea. Multiple value of : 1
  15. 15. STEP ONE - THE STAGE You’ve started but have no income. Multiple value of : 2
  16. 16. STEP ONE - THE STAGE You’ve started selling / have income. Multiple value of : 3
  17. 17. STEP ONE - THE STAGE You’ve made profit for 6+ months. Multiple value of : 4
  18. 18. STEP ONE - THE STAGE You’ve made profit for 18+ months. Multiple value of : 5
  19. 19. THE MATHS Idea Value x Stage = Total Value Examples: Average Idea (£5) x 6+ months profit (4) = £20 Great Idea (£15) x 18+ months profit (5) = £75 WOW Idea (£20) x 6+ months profit (4) = £80
  20. 20. THESE ARE STILL LOW VALUES Yes but there is a way to totally change this, even with just an OK idea..
  21. 21. STEP TWO - THE EXECUTION Because when you deliver something it’s the way you deliver it that creates the real value..
  22. 22. STEP TWO - THE EXECUTION You have not executed anything Execution value of : £100
  23. 23. STEP TWO - THE EXECUTION You have weak execution Execution value of : £1,000
  24. 24. STEP TWO - THE EXECUTION You have average quality execution Execution value of : £5,000
  25. 25. STEP TWO - THE EXECUTION You have a good execution and plan Execution value of : £10,000
  26. 26. STEP TWO - THE EXECUTION You have great execution Execution value of : £50,000
  27. 27. STEP TWO - THE EXECUTION You have amazing execution Execution value of : £100,000
  28. 28. STEP TWO - THE EXECUTION You have “complete” execution Execution value of : £1,000,000+
  29. 29. THE MATHS AFTER STAGE TWO Idea x Stage x Execution = Final Value Examples: OK Idea (£5) x 6+ months profit (4) x weak execution (£1,000) = £20,000 Great Idea (£15) x 18+ months profit (5) x great execution (£50,000) = £3,750,000 WOW Idea (£20) x 6+ months profit (4) x complete execution (£1,000,000+) = £80,000,000+
  30. 30. SO WHAT DOES THIS ALL MEAN? The value is in the execution, not the idea or the stage of the business and the faster you execute things well..
  31. 31. SO WHAT DOES THIS ALL MEAN? ...the more value you add to your idea or business, it’s why services like Instagram get valued at $1 Billion.
  32. 32. SO WHAT DOES THIS ALL MEAN? Products or services that are well executed will always do better than superior ideas that are not as well executed.
  33. 33. HOW CAN I ADD VALUE? There are many elements that determine the quality of execution, especially the marketing.
  34. 34. WHAT TO DO NEXT Get a plan together, then get help and support with that plan and the execution of it FAST.
  35. 35. AND DON’T FORGET Use website.co.uk as a source of inspiration, advice and support to help maximise the value of your idea.