Are you wasting good money on bad business ideas?

Everybody has ideas, and we’re going to need the good ones to adapt and navigate our way through the pandemic and the resulting economic downturn. Even before the pandemic, 60% of new initiatives would go bust within 3 years according to The Daily Telegraph – so how do you spot the non-starters before wasting time and money?

Julia Shalet has come up with a new book, The Really Good Idea Test which offers 7 practical steps to test an idea and find out if it really is worth pursuing. It might be an idea for a new business launch, a development to an existing product or a major life decision, but the simple process will help you understand what people really want and spot potential downfalls before you commit (or waste) time and resources on them.

With common pitfalls to avoid and top tips signalled throughout, this test is hands-on and is an early checkpoint to see if your idea is good or not. By the end of the test you will be able to move forward with confidence, making decisions based on evidence of what people want and need, rather than incorrect assumptions.

Julia is known as Product Doctor, and has developed The Really Good Idea Test through 20+ years of working on award-winning propositions. From new mobile products and services to urban markets and online education services, this approach has been proved across many different environments and sectors. The Really Good Idea Test takes you on a journey through her proven process, starting with writing a hypothesis, identifying risks and testing your idea with face-to-face research (video is a great way to do this in current times). She provides templates throughout with helpful advice on how to complete them. Finally, the journey ends with a clear decision to either pursue the idea or stop – but crucially, she emphasises that we mustn’t be afraid to stop, learn from our failures quickly and move on.

The Really Good Idea Test is for all innovators – from start-up concepts to big corporate product ideas, from community-based projects to those with international revenue streams, for senior execs through to people with no innovation experience. This book shows that there is no excuse to sit on your ideas and wait for someone else to do it instead!

The Really Good Idea Test is published by Pearson and priced at £16.99.

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