I’d Been Sitting On This Idea. And Last Month, I Said, F*ck It.
Welcome to the world, 1LD.
2022 is going to be one of those years. I can feel it.
More than feel it, I’m sculpting my pathway, controlling every action to make it my year.
Come December 31st, I will drink my celebratory champagne knowing I gave life every ounce of motivation and effort.
But let’s not start celebrating yet. I have to do the work first. And so do you, by the way. We can’t sit on our asses all year and expect a worthy celebration. We all know success doesn't work like that.
And part of the reason I know the success is coming my way is because I made a smart decision. Perhaps a decision fuelled by ambition and emotion too, my smart decision has been one a long time coming.
I couldn’t sit by and pretend any longer that I didn’t want or need to pursue this idea.
And as I’ve settled into my new home (and no, I have forgotten about the office tour but I’m still waiting on one piece to complete it), I’m cementing the dream.
👆🏻Office sneak peak!👆🏻
Introducing 1 Lovelock Drive
I have wanted to create 1 Lovelock Drive for too long now. This year, I have not only created it but I’ve launched it, written articles, started promoting it. I'm in this.
I’m here today to share how excited I am, fearful I am at the same time, and inviting anyone with a similar idea to go for it.
Here’s the scoop on how it all happened.
👆🏻1LD on Medium 👆🏻
Ideas are always rattling around
I swear I come up with new business ideas everyday. I see something, a perceived gap in the market, and my brain explodes with ways I could capatlise on it.
My morning walk is one of the most brain busting hours of the day, outside of the reading time prior to bed. It turns out my brain loves the daily ritual and allows all creativity to explode during these times.
I would say if you’re desperate for ideas, come join me on a walk one day. With my endorphins, I’m convinced I could make you a millionaire overnight.
It’s a little chaotic with these ideas coming and going. Once you have one, you have many. You become used to have many ideas circulate through your brain.
When 1LD came to me mid last year, I thought it was another passing fancy ready to disappear by the time the sun was up again.
I'm glad it didn't leave, though.
This was the idea, the one I couldn't fathom dying without pursuing
Me and 1LD, glued together. With super glue, no less.
The idea became apart of my everyday thinking, the complexity of the idea developiny as the months passed.
Yet, with all ideas, you do reach a point where have to figure out whether this is the money maker, the soul shaker, the things that gets you out of bed every morning.
Or is this another thing that goes into the vault of ideas you could find success with thanks to a magical amount of money, time and effort you don’t have?
I have a way of filtering my ideas which works well for me, something I undoubtedly applied to this idea. This works for me, that’s why I’m sharing it.
It might not work for everyone, but feel free to steal what helps you sort through the million of ideas you’re no doubt having. Here is the process:
Write the idea down
As soon as the idea comes to you, take a piece of paper, physical or electronic, and write the idea down. Put all the details festering in your mind on the paper. Even if your scribbling makes little sense, or you don’t record it logically, get it out of your mind. This might include:
Drawing mind maps
Including images and links from sources that inspire your idea
Graphs, charts, spreadsheets with numbers
What you’re aiming to do is see the idea for what it is. In your mind, the idea looks wonderful. It can seem logical, profitable, genius even, but once on paper, it’s like shining a torch on it. How good does it really look?
Tell someone the idea
After putting pen to paper, with the idea loosely mapped out, telling someone is a wise second step. When you talk out the idea, you discover positives and negatives you may not have known.
The person can offer insight into areas you’ve overlooked, undersold, or that pose you extreme limitations. It’s a second head, and you never know what may come from hearing their point of view.
Price up your idea
Most ideas can seem like good ideas when you don’t need to invest a single cent. It’s all fun and games until you have to open your wallet and start paying to make the idea a reality. So how much is the idea going to cost?
Pricing up your idea involves investigating several factors. These can include:
Basic startup costs — office space, equipment, transport, stationary
Staffing costs — if your idea needs staff from the outset
Materials — anything you need to create the product you sell or deliver the service you promise
Marketing — cost of marketing programs, advertising campaigns and traditional material
All volumes — how much you need of everything to start
Sales price — what would sell your product or service for, based on market research and pricing limitations
Time cost — how long it will take you to produce a single unit of what you offer
1LD only costs me time and small amounts of money when I decide it needs it, for marketing and domains and the like. My time is valuable, I’m not saying it isn’t. But I don’t have to pay anyone to get my articles online. Brilliant.
Test the idea with social groups
Reaching this stage of the testing process generally means your idea has some merit, and you can financially justify pursuing it.
This timing means you can afford to take some risk and float your idea with your potential customer. This is providing you with social feedback on whether they would buy what you’re offering, and whether it’s a sellable idea.
It’s easy to do this without giving away your idea, something by now you might be conscious of. Finding a way of describing the idea without going into too many specifics.
Or explaining exactly what you’re considering.
Sit on the idea
Like I mentioned earlier, ideas come and go quick. It’s easy to become excited, overzealous about an idea, and then fall out of love with it moments later.
Most of us don’t have the luxury of experimenting with business ideas, putting them on the market, and then deciding how interested we are in them. We need to know how much we care before investing a single dollar, or minute, into it.
Though it’s easy to succumb to time pressures, take a moment to step away from the idea and see how you react.
Are you motivated by the idea after a couple of days?
Do you wake up thinking about it?
Are you onto other things without even thinking about it?
This time will help cement where you really want to go with it.
Ideas are cheap. Everyone has them.
This is what I know about ideas, and why I applied my approach to 1LD before writing a single word.
I’m like anyone else with an idea, so in someway I had to find a way of separating myself from being like everyone else. Because being one of the pack, another noise the same as many, never makes for success.
Everyone can come up with the next “good idea”. What sets us entrepreneurs apart from the pack is our measured and timely assessment of ideas, combined with our ability to self-censor. These qualities don’t come to you overnight. Practise them, and make a few mistakes along the way.
It’s easy to become wrapped up in the side hustle culture, or the next big thing sweeping the money-making world.
I’m proud to say 1LD is live, and it’s not a side hustle or anything like that.
It’s the dream, the one I will pursue to the end.
This journey isn’t the same without you. And I sure know you can’t find success without support, somewhere to vent, and people just like you. Join me here on The Frolics as we grow our careers together!
Ok, so this isn't enough for you?! Damn, I love your style! You can reach me and get more right here 👇