Pick Relevant Attributes

The first step in the 8-step approach is to identify and select the attributes of desired business ideas. Begin by finding out what attributes are. Then go about identifying and selecting attributes by initially looking at areas that you are good at. Then proceed to look at attributes from a customer perspective. Another area to consider is key sources of income. The importance of disruptive technologies comes up next in your selection of attributes. Last but not least is to understand the competitive advantages that your environment has that gives you an edge.

Sometimes, you need to have some idea of the products/services you are thinking of providing first before identifying the attributes. This is especially true for customer focus. On the other hand, identifying attributes first before thinking too much about the business idea can lead to breakthrough ideas.


What Are You Good At?

Customer Focus

Income Sources

Disruptive Technologies

Competitive Advantage




The 8-Step Approach

Pick Relevant Attributes

Generate New Ideas

Select Best Ideas

Identify Income Sources

Work Out Costs

Forecast the Revenue

Assess and Iterate

Invest and Launch