There’s nothing new under the sun.
Your answer? Your idea? Someone has thought of it. Someone has attempted it. Maybe what’s been done isn’t exactly your idea, but it’s probably close enough that there is a foundation to be built on, a lesson to be learned or a path that can be followed. That’s a good thing! Starting from zero rarely makes you a hero.
For this activity, use the Curated Library (or the Internet more broadly) to find two concepts that are similar to what you’re trying to accomplish – one should be a success; the other should be a failure. Investigate the process behind each example to understand why one succeeded and one failed. After all, there are lessons to be learned from both examples.
Part One
Analyze your two examples to create a case study of what works and what doesn’t work when building a new idea. Use the following questions as a guide:
- What’s the goal of the project?
- What is the project trying to fix or improve on?
- Is the brand clear? Why or why not?
- How was the idea first pitched? How is it marketed?
- Who is impacted by the idea? Who is the target audience? Were stakeholders considered or consulted?
- Is the project well thought through? Is there proof of concept? Is it backed by market research? Financial data? And which questions were answered in the initial pitch?
- Is the project scalable? Is there room for growth?
- Is the project missing any important elements? Are there laws, treaties or other legal consequences that need to be addressed by the project?
- What message does the project send to the public? What has the public’s reaction been to the idea?
- Why do you think this idea ultimately succeeded or failed?
- Is there a template that can be used, or one that should be avoided?
- What would you have done differently, if anything?
- Could the successful idea have been more successful in hindsight?
- What are the five main takeaway lessons from each example?
Get together with someone who is analyzing two different examples. Compare notes and jot down their lessons learned. Reference these notes as you work to develop your idea.
Resources
Where Canada’s next entrepreneurial leaders get their start.
Programs and Initiatives – Government of Canada
Part Two
Select two podcasts from the Podcast Pool.
- Who do you think communicated their ideas and perspectives more effectively? Why?
- Did the podcast you enjoyed better convey a positive or negative message? Were they thoughtful? Why?
Part Three
As you now know, developing an idea takes time. And though you might have a clear understanding of what success looks like, it’s hard to measure success when you’re in the weeds. Use this guide to help you find different ways of measuring success as you work towards your goal.