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From Idea to Success

Written on November 1, 2011 by George Krueger & Mary-Lynn Foster in Entrepreneurship

It’s a long road from idea to BIGG success. However, we want to reduce it down to four steps that can be summarized with the acronym ICAT.

Ideas float.
Concepts emerge.
Action commences.
Transformation ensues.

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Ideas float

Ideas are amazing things. Someone floats an idea your way. In a completely separate conversation, someone else floats another idea.

These two seemingly unrelated ideas float around in your head. They may mutate together. They may spark other ideas.

Before you know it…

Concepts emerge

We have learned that our best concepts come after our ideas have fermented for a period of time.

We get an idea. We talk with people. We refine the idea.

We hear about another idea. We see a fit with the concept that’s developing. The concept gets tweaked.

Keep gathering information. Keep researching. Keep asking questions and searching for answers.

Prove out your concept. Refine it so you can explain the problem you’re solving in ten words or less.

Then…

Action commences

This fits the acronym, but we really should say: “Commence action.”

Action doesn’t naturally occur. You have to make it happen. This is the stumbling block for many people.

It’s all about inertia – an object in motion stays in motion. But it takes tremendous effort to get the motion started.

So take action so that…

Transformation ensues

Here’s an important principle to remember: you act on your concept to gain new information, not to prove it right.

You may learn that your concept misses the mark. Abandon it and start the process over.

You may learn that you need to tweak your concept. That’s fine. Do it quickly.

You may learn that your concept is on target. Determine what you need to do to push it further. Then put the proverbial pedal to the medal.

In the process, you will transform. You will grow personally and professionally. Remember the acronym ICAT to go from idea to BIGG success!

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Tags: acronym, audioblog, bigg success, Business, business idea, four steps, gathering information, george krueger, mary-lynn foster, podcast, the bigg success show

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Steer Your Way to Bigg Success

Written on October 27, 2009 by George Krueger & Mary-Lynn Foster in Success

steering Here are two key principles to never forget:

1. You are the entrepreneur of your life; you and only you are in charge of it.

2. If it works for you, it works.

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Hear George & Mary-Lynn discuss how to steer your way to bigg success on The Bigg Success Show! Click the player to listen: Play Now | Play in Popup | Download

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With these two principles in mind, you can steer your way through good times and bad to get to your destination.

There are natural laws which we can't break without unfavorable consequences. But we also place a lot of "rules" on ourselves. These rules come from many influencers – family, friends, co-workers, Hollywood, advertisers, society at large, and tradition to name a few.

Sometimes we need to follow these rules. Sometimes it pays to break them. Here’s an example:

Fred DeLuca had just graduated from high school. He wanted to go to college and then medical school, but he had a problem. The only jobs that he could get only paid minimum wage. He couldn't make enough to pay for his education.

So he approached a family friend and asked him for the money to start a restaurant. He got the money and opened the restaurant. It lost money – Fred would have been better off working for minimum wage!

But the young man was not dismayed. He did something that we wouldn't do; maybe you wouldn't either.

He opened a second store nearby!

There was just one problem – it lost money too.

What Fred did next was downright crazy – he opened a third restaurant!

Before long, all three locations were profitable because he could advertise all three with the same budget as just one.

This is the story of how Fred DeLuca started Subway. His tactic – opening more stores in spite of losses – may not work for anyone else. It doesn't matter to Fred; it worked for him.

With the two key principles in mind, here are the action steps to duplicate the success of bigg winners like Fred DeLuca. We’ve put them into an acronym to make them easier to remember: I STEER.

Investigation: Match your talent with a specific market opportunity.

Strategy: Formulate a plan to get started.

Tactics: Break your strategy down into specific actions to be done by a specific time.

Execution: Act upon your tactics.

Evaluation: Review your progress and make any and all necessary adjustments.

Reprise: Repeat these steps in harmony with the knowledge you've gained.

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Thank you so much for sharing some of your time with us today. Please join us next time when we’ll tell you how to feel better right away. Until then, here’s to your bigg success.

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