The Ten Steps For Producing Profitable Product Ideas

Step 1, Identify the problem: You cannot solve a problem until you know exactly what that problem is.
Step 2, Assemble the pertinent facts: Professionals in every field know the importance of gathering specific data/facts

Step 3, Gather general knowledge: This has to do with the expertise you've developed in all aspects of your life - from events, people, marketing, technology, management, communications, selling, entrepreneurship, selling, parenting, the Internet and human psychology

Step 4, Look for combinations: Is there really such a thing as a completely new idea?  Many ideas are simply a new combination of existing elements.

Step 5, Sleep on it: Putting the problem aside for some time can help you renew your idea-producing powers just when you think your creative well has run dry

Step 6, Use a checklist: Checklists can be used to stimulate creative thinking and as a starting point for new ideas.

Step 7, Get feedback: Some entrepreneurs prefer to work alone, but feedback is critical.

Step 8, Team up: Many people think more creatively when working in groups, but they tend to include too many people.
Step 9, Give new ideas a chance: The creative process is a TWO stage process.

Step 10, Define success: Always set metrics. Define what is the least amount of sales you would accept for this product to be a success.

People who should listen to this show are entrepreneurs