While there are quite a few platforms to share and trash out new venture ideas with like minded people or seasoned mentors, there are very few ideas that transform into Ventures.

Most enthusiastic wannabe entrepreneurs think a Big New Idea will change their lives and make them the Ace Businessmen they always wanted to be. Its good to be optimistic, however, if all that was ever needed was just a brilliant thought, there would be more rich men than rodents.

Ideation does involve thinking about new ideas, agreed, however it does not stop at that. The ideation phase starts at identifying a need, and moves onto thinking of inaccessible solutions, ways of achieving the same, working out the stages of implementation, chalking out the phases of development, enlisting the logistical requirements, planning the go-to-market strategies and define all thinkable revenue models. Post this comes sharing the thoughts with close friends and striking off or considering the most logically viable options.

While there is nothing bad in being optimistic about his idea’s success, the owner of the idea should also be prepared to scrap the idea and start from the scratch if and when seen less viable.

Where ideation is an integral part of innovation, it does not stop at just that.

Do leave a Comment and share your thoughts on ideation and its importance to you.