4 Step Idea Marketing Model For Enterpreneurs

4 Step Idea Marketing Model For Enterpreneurs

DEAR ENTREPRENEUR,
Entrepreneurship and Innovation at Indian Institute of Science-IISc (EntIISc) had organized a session on ‘How to market ideas’ where I was a speaker. We conducted a quick survey about the idea marketing efforts. Twenty four entrepreneurial minds in Bangalore participated in the survey.
FINDINGS

  1. 71% Entrepreneurs find it difficult to market ideas!
  2. 71% Entrepreneurs typically get ‘improvement’ type of ideas.
  3. 42% Entrepreneurs don’t create a marketing plan for their ideas.
  4. 29% Entrepreneurs don’t define their ideas.

IDEA MARKETING MODEL FOR ENTREPRENEURS

  1. I – Initiate your idea
  2. D – Define your idea
  3. E – Explain your idea
  4. A – Act on your idea

Here are steps for M2I2 – is ‘Marketing Ideas for Idea Marketing’.

  1. All of us are IGMs – ‘Idea Generating Machines’. We need a filtering mechanism to shortlist ideas to work on. Use parameters like time, cost, resources, and many such for filtering your ideas.
  2. Once you run your idea through idea marketing model mentioned above, create a marketing plan and execute it.

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