Winning Approval to Turn Ideas into New Products

Have you ever had one of those “aha!” moments? The type where the cartoon lightbulb magically flashes above your head and immediately, you just ‘know’ your onto something? How many of these moments are lost within a fleeting second once reality sets in with its questions of who, what, where, when, why or how, tearing your hopes and dreams in two?

Best-selling author, successful business consultant and internationally acclaimed speaker Peter Sheahan has a reputation for transforming organizations by turning traditional paradigms on their head. Recently he was a guest columnist in the Globe and Mail where he shared his insights on how to persuade the decision makers to give you the green light on those “aha!” moments and turn your idea into reality: 

THE ADVICE

Focus on value, not features. It doesn’t matter whether you think it is a good idea. It is about what the executives think. Start by getting very detailed about what the idea is, and specifically the value it will bring to the company. Don’t focus on features and benefits. Focus on the unsatisfied need, the market’s appetite to pay for a solution, and the value (think dollars) it will bring for the company.

Align to company priorities
All companies have a strategy; it could be “sell more services to existing customers” or “grow internationally” or “penetrate new market segment.” Senior executives are responsible for executing against these strategies, so ask yourself, “What priority does my idea help to achieve?” To sell the idea to senior executives, use the language in your description, and link directly to the strategic priority.

Talk to the right manager
Many companies have dollars earmarked for innovative projects. If you’re struggling to get buy-in, perhaps you are pitching to the wrong manager. If that person is focused on monthly sales numbers of existing products, then innovative ideas may not be a priority. Find a manager who is responsible for innovation itself and you will likely have a better shot.

Mitigate risks
If senior managers are not giving a project the green light, it is because they remain unconvinced your idea will be a success. The more evidence of its likely success you can generate, the less risk involved. Seek out and obtain unquestionable testimony of customers saying they both desire and would pay for this product if your company made it. And if it is true, leverage your competition’s possible desire to satisfy this need. Fewer things will sharpen senior managers’ focus than the thought of a competitor beating them to new market share.

For more information on Peter Sheahan, visit his NSB profile page.