i-d-e-a-tion noun:
the process of forming ideas or images, to form an idea of; imagine or conceive:
The first phase of an It’s Feasible™ project - ideation - consists of dreaming, being inspired, giving ourselves permission to think about an idea. We ask why not, what if and wouldn’t it be great without regard to whether the idea is reasonable, technically feasible or financially viable! Once an idea is conceived and documented, we begin to ask ourselves a few questions regarding the newly formed idea to determine if it meets our Big Idea Project Criteria.
- Is the idea a God idea or just a good idea
- Does the idea create tangible value for the world
- Is the idea fun or inspiring to our team
- Is the idea rare
- Is the idea non-substitutable
- Is the idea prosecutable
- Is there an existing and definable and sizeable market for the idea
- Are there identifiable operators or commercialization prospects
- Does the idea have reoccurring revenue or annuity characteristics
- Can the idea be made market ready within our defined budget
For any idea to be considered feasible and considered a potential Big Idea, the answer must be yes to all of the above. We do make exceptions for non-profit ideas where the answer to number nine above may be no.
