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Idea Evaluation

Sebastien Braxton
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Sebastien Braxton is the CEO for The New Life corporation.  He is also a member of the InVerse team, a young adult bible study program on Hope Channel.  He resides in North Carolina w/ his wife Candis and their four children.   His latest project is an online course on how to study and preach the Bible.

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  • July 31, 2020
    1:15 PM
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All righty Good afternoon everyone we have Sebastian Braxton best today and. Will be. Let me give you. A little bit off a bio of Sebastian So Sebastian Braxton is the c.e.o. for the new life of Corporate Development startup he serves as a business consultant and the speaker or the center of in the patient in North Carolina he's a certified a real facilitator and ice house entrepreneurial mindset so the paper is also an instructor for the 2 c.e.o. program is a founder of the ad Fiat locks. Feel free to correct me moves you have the absolute great great a consulting company that specializes in the line mentorship of young professionals and young adults as well as business model and consulting and financial innovation strategies his latest project is an online entrepreneurial community called the 1000000 Dollar Club the and that's fighting entrepreneurs that millionaires or radically and made it to God and missions so Sebastian. Thank you very much for joining us and joining us today to play. It's going to be interesting to hear your thought process about the strategy brand development your practical experience how you have approached gives these matters. As far as. As far as. A structure or agenda for debate will start with an opening prayer. Than The far as. Ground rules will have questions in the middle of the session so feel free to ask your rations along the way. Then some bastion will have a presentation for us. He will. Open. Open on his Timor and then rule have you on they along the way and we're close with that with a prayer closer to 315. Eastern time all right Larry and to get to the questions since they are not going to be in this room meeting are you going to be letting me know when questions come in I will yes Ok perfect I will I'll do that all right let's open up with the prayer Dear Heavenly Father thank you very much for blasting us so much with great speaker and great speakers in this conference and especially thank you for Sebastian you have such a wealth of knowledge and hysteria facts through peace and we're just hungry to learn how to be batter entrepreneurs batter business people in general those that want to serve you and want to start people so please blast Sebastian give him lift them how can do our hearts and minds and how best to have a great interesting chief of staff session today we thank you and ask all this in your name. All right thank you Andrea appreciate it reading those introductions always sound a little bit more like urban myth to me none of that matters right until it's time to deliver. Under can give me our permission to share my screen going to go ahead in bring up my presentation yes you should be able to do that yes so I wanted to. Essentially to get started. And really address the fact that this session is about defining your game plan I did send out the notes to Christina and so if you need to get a copy of that you can either reach out to her. I can. Also. Put my e-mail here on the screen see if I can clarify that actually I'll just remove it. So the main particular issue that we're going to be grappling with today is how to prepare your idea and actually get ready for the market. You may have an idea you may have a ministry you may have a social enterprise that you're trying to go through and the foundational step is to do idea evaluation that's the best way to prevent yourself from a tragedy as you move forward there are a lot of people who have tried to start a business try to create an organization try to pursue a particular mission only to arrive at failure simply because they did not assess the proper risk and we find this in the Gospel of Luke Chapter 14 and Jesus says no man goes to war and 1st does not count whether he has enough rice to win and no person will go to build a house unless they count the cost and make sure that they have enough to finish the house otherwise we'll be embarrassed because it will be half way completed and then you know the rest of the embarrassment that comes with that this is a similar concept that happens in business we need to be able to count a lot of the cost or what we may call the risk that goes into pursuing different ideas and how do we can how we can actually reduce risk is one of the primary methodology is and mindsets of an entrepreneur people think that as entrepreneurs we're all about risk and we are but not in the way that people think we're about minimizing risk not about maximizing risk and although it is true in financial investment the higher the risk the higher the return stock markets are a lot more volatile so you can get higher returns from that versus a Treasury bond or investing in commodities such as corn or wheat or copper those things are a little more risky than Treasury bonds but a little less risky than stocks so the return is right there in the middle. And so this is the idea that we want to think about when we're talking about our business now as we as you go forward I just want to. Share having some problems with my presentation Ok. All right so the 1st thing here is this is an overview of some of the main areas that we're going to be looking at as we tunnel move forward so we're going to look at 1st of all at the bottom you're digging out the scribing the problem now in describing the problem is always the place where you start when you're looking at your idea every idea whether it's a business whether it's a social enterprise a nonprofit a ministry you are addressing a problem or a desire or a need in the marketplace it's something out there in the world that currently does not exist and you're trying to come up with a solution to fulfill this particular need or desire and one of the 1st mistakes that people make when they come up with ideas for a business or a project even within a corporation because corporations are now creating entrepreneurial innovative teams inside their corporation to keep innovating. And one of the 1st things that I always have to teach a person who is trying to create an idea is you have to fall in love with the problem and not the solution so many people are like I want to come up with a cafe that's a vegan cafe Ok Your That's a solution but do you have a problem so it's like someone coming into your house and basically telling you hey I want to fix your garage but there's nothing wrong with your garage actually if you could help me with my lawn that would be great well no we only do garages Well listen man I got the best prices in fixing garages yet but I need help with my lawn what you don't understand and I have the most innovative technology when it comes to fixing garages. Ok but I I need help with my lawn and it's like when the market says no it's actually put us in a direction of success I used to say this when I used to call Porter and canvas door to door I would always say to myself the fact that people are rejecting me and telling me no is moving me faster to my next sale so I don't waste time on people who are not the persons that God has for me on that particular day it is very similar in business when I'm getting no from the market Deshon not be a point of discouragement it should be a point of adaptation and response to the environment men I'm over here trying to build solutions for garages when everybody keeps telling me they need help with their yard maybe I should start a long care business. With a optional garage service so that if something happens with their lawn and they say hey man you know something I have with my garage actually provide a service for that or I'm in the wrong market these people don't need help with their garages they need help with their lawns so if I want to market to these people I have to adapt. But this problem emerges because we fell in love with the solution we're so obsessed about doing a garage business we're so obsessed with doing a missionary training school we're so obsessed with having a vegan cafe that we have enough ought about the needs and the desires and the problems that are facing in the market place that we're trying to actually sell to so the 1st step is you have to fall in love with the problem not the solution but most of the time when people come up with their idea they don't even know what the problem is they don't even know the desires Hey I want to do is we can cafe What problem does that solve now coming up with a vegan cafe in Fayetteville where I live in North Carolina you'd be the 1st to market because there is no vegan cafe here right so there's a lot of people who can't find the good food and they want to eat out so you would be solving that problem for people who want healthier options or a vegan option in a market where that currently does not exist is a question I came up not yet Ok I would suggest for folks if you research 3 to submit your questions we see them here in the platform will be will be Sebastian will be addressing them come current Me Ok Art such want to make sure so when you when you're thinking about falling in love with the problem so if I want to create if you can cafe I always have to take people back to Ted Levitt who was a lecturer at the Harvard Business School and he's the one that famously came up with the line people don't buy a drill because they want a drill they buy a drill because they want to one 4th inch hole in the wall so the question is What does your product do for your customer so people say Well Sasha want to start of being cafe so that people can come in even food so that. And I'll take them through so that until we arrive at a point where they're confused and stumped why I don't know but usually one or 2 answers before that is truly why you want to come up with a vision café so really you're not dealing with vegan cafe you're dealing with eating options so that's really the industry that you're in you're in an alternate food industry in which people there's the mainline fast food there's the mom pop restaurants and there are the you know typical ones Chili's and Apple be Ruby Tuesdays and whatever the p.f. Chang's and the Red Robins on and on and on we said yeah those are restaurants but sometimes people are like yeah but I always have to find a vegan option what if I went to a restaurant in everything was plant based so for me dealing with type 2 diabetes for me dealing with high blood pressure or Carty cardiovascular disease my doctors telling me I need to eat more vegetarian I need to give up the red meat but I want food that is healthy and taste good at the same time so when I'm looking at the market in the problem I have to be obsessed with that problem is how do I give people the the healthiest food for their medical condition and make it taste just as amazing as the food that they had how do I present food that makes them not miss the t. bone steak in the rib eye and the Philemon your own so that they're used to eating seed that's my problem but notice what I did I formed it in the framework of a question because when you're starting your business idea you want to be thinking about your problem that I'm obsessed with but it has to start up with a question or a hypothesis that you're going to explore because every To person who comes up with a business idea or ministry or social enterprise they're bringing a certain view to the world. That's a hypothesis you think the world will be better or that some community of people who are being overlooked what have their needs met if your business existed but that's a hypothesis this not a fact it hasn't been proven it hasn't been tested so when we look at describing the problem as we're going through the presentation I'm going to start walking through some components of this but essentially you have to start with falling in love and then framing that in the context of a question what is my question that I'm actually asking what is my hypothesis I believe that if we create a vegan restaurant in Fayetteville a lot of people who are trying to go plant based because of documentaries or for health reasons or because they just feel better eating vegetarian food and they want a lot more healthier diverse and well really tasty options they're going to love they're going to love my food so then someone would say to me Sebastian So where do we go from there well then we start clarifying. The solution so here you see in the top left of the screen now we start asking the practical questions on what is your solution to this problem what are you proposing So what are you making what makes it unique better or special and are your target customers both able and willing to pay now a good example of and I'll get into this in a minute as we're going through the presentations a good example of this and a bad example of this is there's a lot of them on both sides but in looking at this clarify your solution a lot of people when they come to me with an idea and I ask them the simple question What are you making. See though say I like I have an idea for a business like I want to do a lifestyle medicine clinic that treats diabetes and does hot and cold treatments and it also does mud treatments and it also does Clay things for dermatology but it also has opportunities for exercise in a gym and a basketball court but also needs to be way out in the country so people can get fresh air and be out in nature and I'm like Ok so what are you making see of us about their business are going to tell me a 100 things but I say what exactly are you making they'll say Ok we want to make a a lifestyle center Ok that's what it is it's a lifestyle center best richard making you're not making the trees right you're not making If the gym equipment you're making a lifestyle center that has access to nature has a gym a quick Mint has you know opportunities for hydrotherapy and hot and cold treatments that's those are also of details of Alternately what you are making when you ask the question what makes it unique or better special we're going to talk a little bit about how you identify that in a minute but this is a critical thing that a lot of people don't think about every single new enterprise and I have to emphasize this any new business any new ministry any new social enterprise it has to be an innovation it cannot be more of the same if you're creating something there already exists it's going to die and people say yeah but Sebastian it's it's got to be innovative either it's innovative based on where it's located Well I created a mission school in China well yeah I mean there's not a lot of mission schools in China so that would be an innovation right that's it's innovative not because of the idea but because of the location. Or it's innovative because of how you do it so Ober didn't create taxing taxing was already a thing old old thing the problem was how you paid and contacted the tax whose cars did you use so was no longer yellow cab the move cab white cab you know the little British famous taxis all that has rust aside what do we use other people's cars so now it's not like we're going to create a taxi company with no cars really yet which is going to get people to use their car and be able to call the taxi right from their phones through an app so that was the innovation but taxi service has never been a new solution same thing with air b.n. b. they didn't create the hospitality industry they just innovated it did it a little bit differently and because of that it makes it unique better or special it's going on and on so sell out and go ahead so we're waiting for a question let me let me ask you a bit more here Yes So how do you see some tourists rate the risks and problem to keep the Risen need to you're trying to get you trying to food to fulfill. And you pretty much give a framework here your distance if you already have a need in mind this is how you would evaluate it. Is there are. Let's say someone and person summer and in the end Colorado once to start a business in business that will have in the or serving people or feeling the need. They can use the framework what else would they do and that original station they have a few ideas how would they go about evaluating them in their shoes before being feasible or practical when they can solve another evil would they would they go somewhere with a read who they get consultant they get what they offer to a ration only to you at least filtered those save us better in practice right so allow me to speak about your question a very directly someone at Qana pull up the whites the white board here to kind of address your question so when a person has a business idea right so let's just say this gentleman he's in Colorado Ok so now that he's in Colorado he has this business idea and the question is Where does he start Well the 1st thing is there's the 3 concepts of design thinking right so the 1st thing he has to answer the question of desirability So how do you know people want it and how do they want it right so this is his 1st question how do you mean focused design is something that was actually not a thing until recent times. A lot of times people bill things because they felt people needed it that's it there was nothing desirable about a lot of the things that used to be created in the marketplace. But then you also have the 2nd space where you say Ok but is this thing even feasible right so I sat down and listened to a business presentation and a guy told me that he wanted to create a business and he was looking for investment to basically build a rocket to rival not a rival but to support the space x. program of Iran last and it would require $130000000.00 I'm like well that's not feasible no one's going to give you $130000000.00 for a possibility and it's a capital if we if we set ourselves up Iran must Tesla space x. will just bias I'm like how do you know that so and that's going to lead me to this concert that I'm going to call it's an idea that I like to call the $100000.00. Idea. So a lot of times right when you look at the concept of gambling I said Let's assume right you went to a casino you have $100000.00 now you have 2 options right and I'm just giving these 2 options I'm not saying this in real life but let's just say you only had 2 options you could either gamble once with all 100 k.. Or you could gamble a $1000.10 times which one would you choose probably number 2 exactly right so here's the point when you're building your idea and we're talking about the question of feasibility a lot of people the reason why they're burned in starting their business is because they chose Option one like and I can say this like doctors are some of the worst business people I don't mean any disrespect to them but here's the reason is because they have the money the most innovative people were people who didn't have the money. So they had to find another innovative way to do it but see a doctor a lawyer a dentist they've got the money to say I'm an open I'm my own practice I'm a buy a building and I'm a do this and this and because they have the money they just gamble it all on one thing and I'm like what if you're wrong if you open up that practice and it flops you just lost a lot of money so you're learning the same lessons as the guy gambling a $1000.00 it just cost him a lot less to learn that same lesson. So the key in starting your business in the feasibility stage is how do I gamble a $1000.10 times rather than 100001 time that should be always your mindset and building your solution so if you want to build a v. and restaurant I tell people cook the dishes and offer them to a meal service or offer them as a dish at a restaurant and say hey I have a dish concept would you be willing to take the recipe tested at your restaurant or do a pop up restaurant do a booth just like a hotdog stand small little booth prepackaged right it's already ready to go catch people on the road hey I have a little a vegan lunch a books see if people will buy it they tell you what they like the food you want the feedback now the sex the the 3rd component to this is what we call the viability so viability I can't type here today so viability is essentially will this thing make money so when we combine each of these each of these ideas the whole concept is that we wanted to be desirable we wanted to be feasible and wanted to be viable so in each of these concepts right I'm going to take this idea and I'm going to say Ok how do I do desire delivery Well number one I need to speak to customers. I'm going to shrink this down to make it fit so I have to get out hit the streets and get the customers right away so that they soon as I have my hypothesis right because this is the whole point I got to have my hypothesis which is a you know a vegan restaurant cafe in Fayetteville right Will meet an unmet need for healthy alternative. Takeout So that's my apotheosis but now I need to go and test that So my 1st question is desirability So I got to get out and actually speak to people so what kind of people have this problem that's and that's what we talked about in the presentation who has this problem how many people have that problem we need to quantify it so abs we go through desirability and feasibility and we say Ok how do I test this at very low cost right how do I reduce the cost of my wrist and then obviously you're in your viability you're really focusing on will this thing make money right how do I make this thing self-sustaining there are so many businesses so many ministries so many social enterprises that never asked this question can it support itself and this is exactly what element is talking about with self-supporting ministries but a lot of our ministries are donor dependent they're not self-supporting. So they didn't design it in a way to maintain itself it's one thing to set up a school but how is a school going to support it so is it just tuitions is it registration What if we had an industry which is what you know she often calls it in her writings well have a farm have this on site provide music lessons write whatever it is teaching English classes to the to the community around you if you're in a foreign country so whatever it is you need something that says Ok it's desirable it's feasible but is it viable will this thing actually make money generate profit to support itself as well as future needed innovation Subash And so what if what if people would argue especially among among number audience there are a lot of good Corish I'm committed committed people some some people would argue that Ok I've got to work on my heart desires to have this type of business by have Billy or be in South sustainable will come in time I will sort of start with what it is and try to. To Commit to try to to do my Bastien Bastien that business and then see you know then believe that it's going to work out on the finance and Q What's your thought process that. Whole while there's a I could do all summon are in that mindset. So let's let's let's look at it right biblically 1st and them address it from a from an organisational business standpoint biblically right there is nothing that God ever created that was not planned with sustainability in mind when God planted creation he created the sun before He ever created plant right right as plants are created in day 3 he already had light in existence. There was already water on the earth right so sustainability was already there when he goes to humanity on day 6 and says look I made all the plants in the of the ground for your food that means he created the plants and that and the need for a man before he ever knew that he needed it so that means that God supplies the needs that he creates he already had sustainability in mind when he created the world when we go to the Hebrew sanctuary there was the typhus because God already had in mind sustainability of the sanctuary service in mind if the priest are going to do this baking bread fresh every Sabbath going to all the sacrifices cleaning the sanctuary maintaining the daily prayers morning evening sacrifice how are you going to support that what this whole tribe is set aside but if they're set aside they can't grow their fields they can't be sowing all day if they're doing sacrifices all day well we're going to have ties because God programmed sustainability when we go into the church and Paul talks about that very same concept that. You know the labor is worthy of his hire you don't muzzle the ox so if we preach the Gospel then we live of the Gospel that's that's Paul's language so Biblically this idea that God place something on my heart and I don't need to worry about the sustainability of it is a self-supporting it will eventually make money this is a flaw that Biblically God never left as an example of so the only organization that that applies to is the church because God has already built a plan through ties and offerings to sustain it but as soon as you leave the church context we're not talking about a church enterprise when I talk about union division or conference where they have a sustainability model already created. Once you could become a non church entity you are a self supporting organization which means you should not be staking type of money or offering money from the church you should be self-supporting so that you can shrank in the church rather than weakening in spreading its finances then now on the secondary component from a business model standpoint if your idea is so God given and it is something that's on your heart and that means God gave it to you because it is needed in the world if it is not self-sustaining you won't be doing it for very long and therefore the very thing that got asked you to do in the world will no longer exists even when we go back to Ellen why she sold her writings she wrote books and sold them in fact in order to finance Kellogg's medical education through University of Michigan she borrowed against her own writings so she borrowed from the bank to finance n l m i died in debt she had not paid off all her debts that she took in order to move the church forward in the mission forward in so many different ways so she was so believing in health that she borrowed money to help Kellogg write her and James White help Kellogg go through medical school and then when the Senate Tarion came the same thing so in looking at this this idea that the printing press that James white owned before he gave it over to the church and that spawned us to come up with the name 7 Day Adventists because we need to own our own stuff at the behest of James White same thing the printing press was self-supporting it was so sustaining So when people make that comment that oh God laid on my heart eventually No The last quote I will mention on that is. A light writes about Jericho. In Joshua and she says that Joshua prepared his army for the Battle of Jericho as if the battle depended upon them alone that's how he prepared he is so no help from God That's how he prepared himself then she says but he went into the battle as if the battle depended on God alone that's how he worked but his preparation was as if God was not going to help so if you apply that same mindset to preaching Oh God gave me a sermon on my heart or even this presentation right now oh yeah I'm going to talk about idea of valuation but I do no preparation because I'm like well God is going to provide right once I start talking if you apply that model to preaching if you apply that model to any other ministry or service in the world it would not work people would clearly see as the Bible says you should be instant in season and out of season which means if you're in season you should be prepared because it was time for you to speak so there's preparation so my whole point is is the sustainability of your ministry is a part of the preparation to actually execute said ministry and Bashan thank you very much for expanding on that question and heard this structure I have a question here. So in the previous slide you also talked about in the basin that innovation is critical paramount to 2 dental regional business idea yes well the question would start when you go on with their families on Muslim be 1st bookseller online and Facebook was not the 1st social media and Nicholas tassel it was the inventor but Thomas Edison made his inventions or was once sat in it so yeah yes. So when you look at that you know. The last the act with creating or innovating in Steve Jobs as well sounding the same b.s. is and them is in the base you really need it is really is in the nation really critical there or. More How would you even define in the nation. That's funny so when you when you look at your question right and the question is about is innovation essential in all the ideas when you say Amazon Well Amazon wasn't the 1st seller of books that's true but the difference is online they understood why they were unique or better or what made Amazon special So Amazon might have said well yeah you let me just use Wal-Mart as an example. Walmart was not the 1st store to sell a whole bunch of stuff all in one store Wal-Mart is not the 1st to do that what made Wal-Mart special and what makes it special to this day is supply chain management. We can reduce your inventory because you get to see our systems of how much we're selling so of you get to see the supply chain is now like well char Sharman you know toilet paper as I Will we can see that there's only 30 left on the shelf so rather than us. Having an inventory warehouse a distribution center Wal-Mart has a distribution center I just have to replenish their distribution center exactly what they need and I started getting into just in time manufacturing so I just read just enough based upon seasonal data that I'm getting from the seller when before that was separated Wal-Mart there innovation was they bridged the gap between the supplier in the seller the retailer so the store wasn't an innovation but the idea of how they want to about their store was innovative. Let's go to Amazon Jeff basis right one of my favorite stories of how he started he was sleeping in his car I mean he almost lost his marriage to start Amazon you think his wife thinks that he's wrong now obviously not and but at the time Jeff base's thing was the web needs to be utilized it's not being utilized and so he thought Ok We're going to sell a lot of different things and Amazon started out just selling books that's all they sold at 1st but when they transition into an online store they realize that the system similar to McDonald's We have a system in place of how to make these burgers right there other burger joints right or other there are other plays that sold fries and burgers and shakes like that what was it like an innovative thing what made McDonald's innovative is the same that made Amazon innovative with the systems that they had in place in order to go about that selling process so Amazon took that data and said hey we should do features we should do today shipping let's do a prime membership which was a scripture model right other booksellers didn't have that so I remember being one of the 1st Prime members back then Prime was something that you know. You only paid once a year it was a lot cheaper and the crazy thing was was that when Prime went full on subscription model Amazon's whole approach was you know what shipping is the biggest hassle in the world. For any online retailer and Amazon solve that problem for itself and it was that innovation of prime to day delivery we're going to tell these retailers give us a whole bunch of it and we're going to be able to deliver it to people in 2 days. So I didn't go to Amazon necessarily because they had the cheapest prices or because they were the prettiest web store most people went to Amazon because you could get it in 2 days so if I need a textbook this other stores like oh it's going to take you 77 days to get this textbook and you're like I'm a college student Of course I didn't order it on time I have an assignment Amazon to do today or even one day shipping I was like No way so everybody started going towards Prime membership I could get anything in 2 day shipping automatic I never have to pay shipping again because they saw the retailer when a person was shopping once they saw the shipping costs they would back out of the card. Wait 9 months and the shipping cost more than the product spokespeople like so Amazon said you know how we can hide that cost charge you an annual fee you never in your mind you not paying shipping even though you actually already paid for it. In the very cost and then they pass some of that cost up to their to their sellers on their platform and that's what made Amazon different so when people say is innovation necessary it's absolutely necessary you have to have that answer is that 2nd question and solution what makes it unique better or special if you say I'm making the exact same thing you can't come out and say I'm going to make a fast food restaurant that sells everything McDonald's sells but it's going to be called Make Braxton's. Like people are going to say why would I go to make Brassens when I can go to McDonald's If you come up with a ministry we're going to create a missionary training school why would I come to your Braxton Missionary Training School when I can go to arise when I can go to Mission College when I can go to campus when I can go to Africa but why would I go there give me a compelling reason. So innovation is that compelling reason and if you don't have that it's not going to succeed and you're not going to be able to position yourself in the mind of your customer and make sense of mash and thank you for expanding on that yeah absolutely any of any questions and come on line of like barely broached this presentation we're like down to 15 minutes right I'm loading and I think Ok Yes So let me just say in terms of evaluating your problem to your earlier question. And one of the things that we do once you do the criteria for your problem is we say is this you have to have one to 3 of these to actually know that your ideas even worth pursuing in terms of profitability and impact so these 3 create these criteria usually I walk people through and say do one of these fit at least one to 3 have to apply otherwise it's not even worth pursuing So once you say Ok is it popular that means Ideally it's a what the market is 1000000 people have this problem it's a growing problem it's urgent people need it right now it's expensive it's costing people a lot of money like pharmaceuticals is it mandatory like a law changed so I when you think of t.s.a. and now you have to go through security in order to fly that gives you an opportunity to create a business because it's mandatory they have to have it. Is a frequent problem so you think about toilets people have to use the bathroom they have to use water they have to have air conditioning right this is something that is a frequently needed issue. And so because of that it creates an opportunity for your problem to actually be something that's worth pursuing at the same time. I want to mention before we open it up for questions. Is that one of the things I love to use is this matrix. And want to try to make this a little bit bigger. To expand it but when you look at this matrix This is a matrix that we say after you've kind of well actually let me back up before I go into this so after you've kind of gotten your idea your question you're going to your feasibility of how can I solve this problem I usually tell people you want to come up with 20 different ways that you could solve this particular problem and you list them down and you say Ok here are 20 different ways that I could list this problem I could address it and as you address it you say you answer these questions what makes it unique and special Are they willing and able to pay who is my target market and is a solution already being offered so you just kind of go through this thing and then you choose your top $5.00 ideas now looking at these top 5 ideas then you go into how do I stablished my advantage in my top 5 ideas. And then from there you go back to the same start filling it out and completing it and then I like to go through in an idea of valuation so you take your top 5 ideas and you rank them according to problem solution or your unique insight and you score them and this is a kind of a more scientific measured way to say oh I should really pursue idea number 4 because it's scored really high in all the categories and this is where we're assigning numerical values to the different components of your idea and its success so this is something I like to use because I find that it's really helpful for people to ask these questions in my ideas it's a popular one. And I want to give it a score one is not at all 3 is absolutely it's popular rise of it's a one that's a low score. And as I understand things are scoring really high it gives me a better sense of what's a good idea to pursue bashing. One of the questions one opportunities do you see today given the post conflict situation I mean you definitely have a you definitely have a framework around to assess. What I think there's going to be there's going to be 2 automatic issues right markets that are going to be really open that are being created by Cove it obviously Zoom has a monopoly so to me. I can already see opportunities for creating contextualized platforms if platforms are going to be coming a lot more commonplace people going to want more contextualize things so being on Zoom is great but what if I already had a button that said oh yal pray for that so I just click that button and everybody Committee says I'll pray for that or in a business meeting we can say yeah that task I'll take that task and it automatically takes it off the chat board and creates a To Do list for me when the meeting concludes So to me there's going to be a lot more highly contextualized software and features for communities who are going to be using this technology during the pandemic and post pandemic is people are going to zoom. We don't want to go through this again and not be prepared. Another one is going to be a disaster preparedness right the next time a pandemic comes are you going to be ready and what are those businesses that are going to provide the services consulting set up so that your business can quickly adapt in the middle of a pandemic on the health side is another growing 11 of my consulting customers clients she has an online herbal business when this thing went into lockdown her sales went up by 80 percent online so even though they said the economy was suffering she was actually growing astronomically during cold that situation because it's all natural herbal supplements. Oh rebuilder stings that strengthen your immune system etc all using natural herbs which people were not trusting vaccines and pharmaceuticals during this time 8 they had no solution. And b. there was very little known about Cove it at that time what were its effects how do you identify so people are just like buying all of her stuff and char suppliers are running out of her supplies so quickly that she started ordering you know 10 times what she would normally order just to get a hold and even to this day we just talked and she was like they're out like they don't even know what the crop yield is going to be for a lot of the herbs if they're going to catch it in time to deliver to her what she needs so I see natural supplements is deafening going to be a growing market. The last thing I would say is. Online communities and digital experiences. People are going to be a lot more. Was the word I want to use after offensive Ok to just go back into the world and just do things without thinking about the possibilities you could get sick another covert breakout whatever it is so I also see the fact that people are going to still they still want to have fun they still want to be entertained they still want to be able to engage but you're going to have to do it in better ways than just zoom you know or have a zoom game show your screen so I think one of the future innovations is going to be things like. You know now the n.b.a. for example is doing virtual fans so you can log into the app and you can virtually be in the game and your digital avatar will appear in the n.b.a. stands right here like and they have cameras that can represent your angle in view of the game and everything. As if you're actually watching the game so to me that's a virtual experience using Virtual you know 3 virtual reality technology so a lot of digital experiences are going to need to be really enhanced and I can only imagine that elderly people who are reticent to go back to church right would love that like oh just put on this thing and be able to see the pastor see the member sitting next to me. Be able to kind of feel like I'm at church even though it's digital life streaming experiences are going to probably go up that's a definite opportunity for innovation. And then safety I mean that's your ability to respond because one of the main issues during cold it was coming up with enough tests and getting those tests out and that clearly needs innovation. You know you solve that problem you'll be a billionaire overnight basically So testing kits developing that very quickly. Is also going to be a really big opportunity for innovation thank you for Masha and thank you we have another question here so Grace issues that practicing physical therapist she's asking how do we find how do I find an audience I'm or businesses because from the boundless class herbs and acts of science my own gardening one atheist would come to your mind to get an audience to attend those things. Well. Normally when when I look at ideas that already exist this is more for me a consulting question. I walk people through what I call human focused design because most of the time if you have an existing business or thing like a like a cooking class or whatever and you don't have attendance the question is is the desirability it's feasible you obviously doing it but what's killing the viability is the desirability let me use a quick illustration and I'll answer the question the guy who created the m.r.i. machine he was like really like beside himself that he finally got it scale with the magnet and everything to get it in hospitals. And it you know was manageable but what do you notice is almost 80 percent of m.r.i. scans happen on children and pediatrics and so but he noticed that most people go through these machines never go back it was one time and they got really poor reviews because you got to tell a child to sit in a machine don't move don't touch the sides it's super loud and this was scaring kids so he came in and realized that desirability was lucky it was viable it was feasible he built it hospitals needed it it could help doctors you know assessor and things conditions but for if you don't get patients that want to go through with it it's current hurting what you're trying to do and he realized that he had nothing for the human side of it so what he did was he worked with some designers and creative specialists at i.d.e.o. their creative consulting agency and what they did is they completely redid the whole experience so when a kid goes for an m.r.i. Now you go into a hospital it's like a whole story so you walk in and the doctor and the nurse and a person administering a procedure is like oh yeah listen you are now part of a jungle adventure. And now as we walk in it's all decorated with nice colors and it looks like a jungle and then when I tell you listen now in order to survive the terrible river from the anaconda you have to go inside this machine this is our boat that we're sailing down the river but you can't touch the sides if you touch the sides the anacondas going to get you right and it's going to be loud noises right because there's a lot of animals going through but don't worry right if you're brave we're going to survive this when you get to the other side and we'll be able to get this prize whatever 80 percent increased kids were leaving the machine like I want to go back and we go do this again all because he changed the experience of how the kid looked at the m.r.i. machine he made it desirable looking at the gardening in the supplements and the cooking classes and all of that getting an audience you have to really tap into a human core motivation drive. There's a framework developed by a guy name you call it shall It's called the autolysis and he basically took the concept that we called the game of occasion which is applying human design to issues in which people are not making money so it's like we're taking something as a not a game and we're using the core drives of what makes people want to do things when there's no reward. So when you look at this for me the 1st core drive is epic meaning and calling So if you came for example like Tom's or the love crunch granola brand they tell you every pair of shoes you buy from us we donate a pair of shoes to someone who can afford them every time you buy this thing of granola we donate it to a homeless shelter or a community in the world that doesn't have access to food. So that's an epic meaning and calling So if you go and say hey come join our community garden right help learn gardening natural up limit you know supplements and herbs and food every meal that you prepare we actually donated to a family that can't afford dinner that night you're going to get an audience because people going to say dude like I want to learn about gardening Yeah but if I can learn about gardening and then this helps feed a family that doesn't have access to food now you've give it you give it me of course human motivation to be there. And so I can go into other human core drives but that's one of the 1st things I would tap into to get an audience in the us that space the other option I would all so look into is partnership key aspect of people's business model is partnership sometimes we provide the product someone else provides the audience as a speaker I was approached by several brands when I was in college. Because they saw that my my club was having a lot of attendance on campus and so they're like man you know this is so then we get approached by Coca-Cola pizza places and I'd say Listen I'll donate free pizza if you let a sponsor your event so they were willing to pay me $3000.00. To speak and they'll bring because they just want people to try the pizza so for them that's better marketing because everybody's there everybody's eating the pizza it's. A member we did a vegetarian taste fest at Tufts University in Boston. To promote vegetarian meals. Eating Chipotle a donated Avery dos subway donated a 50 foot cut into pieces. Yet there were there were a lot of things that came out of a partnership so sometimes you may have the product and you just need to partner with someone to actually bring the audience. They have the people they there are they don't want to have your market and you're providing value to their community that becomes a natural partnership that makes sense that makes things Sebastian thank you very much for and rasping these question. I know we have 3 minutes to go I hope everything I bet if we were to stay for another hour we would be still speaking so many so many good questions and so many many really good process you bring to the table. I know that that the people are interested to have the framework you you have I know you send me to hand out I actually talked to 2 leadership both young professionals they will be posting all of beef material some presentation and at the same Ministries dot org slash might be Ok and in for young professionals and there you can find you can find the handout and that's the Basham have for you Subash them thank you very much I would say do your final word for us final advice and I finish with them for the Freyer sure. So my last 2 things would be number one get a mentor that's why I started my online Christian mentorship program because I would never have succeeded in business in ministry in anything without the mentors in my life people who believed in me were willing and able to tell me what I needed to hear not what I wanted to hear. And held me accountable. So I think mentorship is for sure a key component the 2nd thing is. The number one predictor of success of a business is traction you have to actually get sales don't listen to people that are not willing to pay you for a solution who are not willing to engage by time by money or by effort like you have to have traction this is so true in the church and it's true outside the church people don't like to join things that are not started they like to join things that are already happening so you can as I say hey man I'm thinking my starting is people going to be like now. That's a lot of effort to get something started but if you already have traction you will attract more investors you will attract a lot more customers you have social proof that whatever you're doing is working and has an impact. And you'll be learning what you need to learn to keep improving it and making it better so those are the 2 things I would say in my last comments but anyway people need to get in touch with me I'm sure the organizer organizers can provide my email address or whatever I'm happy for people to reach out to me if they have questions. I'm always willing and when I'm able to help people work to different problems or solutions but anyway let's pray thank you from my Father in Heaven Lord the time has failed us there is no way we can go through all the elements of. How to really work through our idea building it up from the ground and how to address some of the risks the issues the obstacles along the way and to minimalize the wasted money or wasted time and opportunities. Lord the truth is is that you were able to guide us in this process you provided experience in the minds and lives of people around us and solar we pray that you would lead us to those who can help us even where we are not knowledgeable We also pray Lord that you may grant us the perseverance that you may give us the mindset that is necessary in order to be successful and Lord that our motivation may be the glory of God and the upliftment of humanity continue to bless everyone listening continue Lord to teach them and the Lord we pray in a special way that you will help so many people accomplish their dreams and to find that your word is true that as we delight ourselves in the Lord he will give us the desires of our heart. This is our prayer trust that you know help this is yards. As we are for those who are here from. Jesus. This media was produced by audio through more than having to his name and services and industry. If you would like to learn more about the inside please visit. The site. Or if you'd like to listen more free line sermons please visit w.w.w. not a u. verse.

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