Effectively Materialising Ideas in the digital age is easier and cheaper.We have access to so many platforms that didn’t exist 15 years ago. I emphasize on two ways by which you can materialise your ideas based on resources,time & money.
Initially, if you had an idea and wanted to turn it into a project you wouls need to find investors. Not just any investors but the ones who were really passionate about your idea. This was difficult to come by. Companies took money from people who offered money and weren’t that passionate about their idea. It happens even today. I see a lot of Start-ups in desperate need of money and take it from people who just offer it up to them. The reason why the investor makes a big difference is because of this : If the investor is passionate about your idea he will ask you at every step of the way about how you are investing it and he will contribute to it. This would ensure a good working relationship between the two of you.
Big brands that have resources, time and money are well-established and can afford to have their own innovation team and if necessary buy another company. I know two ways by which you can materialise your ideas in the digital age.
Try partnering up with an online educational platform and submit a concept as a project to be offered at the end of the course. You decide if you want to offer it for free or not. When you offer it as a part of a project at the end of a course you are telling people that an opportunity is available and how would you as a participant help this company solve its problem.
Let me elaborate:
You have a startup and do not have enough resources to invest in a new idea. You have a little bit of time and money. The wise thing would be is to partner up with an online educational platform and offer your project at the end of a course. Now this would look like taking advantage of the people executing this project for you. Offer a job/internship at the end. Show that you are not looking to get work done for free but you mean business.
There are two platforms that I personally like. They are ‘Coursera‘ and ‘edX‘. I recently did a specialisation on Coursera related to digital marketing. My final project was titled “Digital Marketing and channel strategy aimed at improving the sale of Bosch power tools on Grainger.com by 10%“. A case was presented and by using any tools at our disposal had to come up with ideas.
It was an 8-month course. Interacted with experienced people. The best ideas were selected and reviewed by Bosch. From Bosch’s perspective, they gain a lot of insights. A reward for the top 10 ideas that get selected.
Here is a gist of what it was about. Bosch was seeing declining sales and hence to get a new perspective about their problem they opened it up to an audience interested in the field. An online video conference with the head of digital marketing at Bosch to get a better understanding of the issue. Bosch got a few ideas and I, in turn, got an opportunity to work on a real time project. Beneficial for both.
Partnering up with an educational provider helps you target the right people. Helps solve your problem and gives you access to the right talent if you decide to hire. This is one of the most effective ways to engage with the right audience and get the ball rolling for your idea.
Here are the links to both these websites if you want to know more.
- Submitting your Idea
Submitting your idea on a platform that encourages new thoughts is the second way. Kickstarter is the world’s largest funding platform for creative projects. If people like the project, they can pledge money to make it happen. Funding goal if achieved, all backers’ are charged. Fall short, no one is charged. This is basically what Kickstarter is all about. Imagine how easy it is. If you aren’t able to capitalize on the first method proposed this should surely prove fruitful.
This is a crowdfunding platform for gathering money from people who believe in your idea.
Here’s a link to the website.
All you need to do is get your idea onto a piece of paper,formulate it, make it presentable and submit it there. You can decide what amount of funding it requires and also explains in detail what it is all about. This would actually tell you if the people who invest actually like your idea. Not all ideas get the required funding.
To get featured on Kickstarter, I have shared the link below for you to go through.
They have had so many successful projects including the pebble smart watch. This is a place where investors visit and take a look at projects and decide whether to invest in them. I did pledge on a project which reached its goal within the given time frame. As a guy who pledged got it for half the price. As you can see, people who invest also reap the benefits and are also the first ones to receive the product.
I have experienced how these things work and how it creates positive engagement between brands and their audience. The advantages are
- You don’t have to do market research to find your audience.
- There won’t be a need to hire resources for executing your idea.
- You get to have a good understanding of your audience and get valuable insights.
It does not cost a lot if you do not succeed here. You can take bigger risks. The upside to this is, you will definitely get most of it right the next time as you would not make the same mistakes. You have the added advantage of knowing your audience and that is saying something in today’s digital age.