Going From “I Have an Idea” to “It’s Live!” A Checklist for Female Entrepreneurs
You already have a solid business. You have loyal clients that you can count on, and revenue has been looking good recently. But then you know it’s time to bring out something new.
Even worse, your competitors are rolling out new services as fast as they can. You can’t afford to be left behind. The good thing is that an idea has been rolling around in your head for months. The problem? Can you really juggle your current clients and, at the same time, get this new thing off the ground?
The truth is that you can. In fact, a recent GEM Women’s Entrepreneurship Report revealed that women are launching innovations at the same pace as men, and in some cases, even faster. If women across 18 countries can do this, you can, too.
What you need is a practical roadmap, a step-by-step checklist for turning that idea rolling around your head into a live, sellable offer without burning out or losing steam.
That’s what this article is all about. Read on as we discuss the steps that can help you move from “I Have an Idea” to “It’s Live!” in a way that respects your current business while at the same time setting you up for business growth.
Step 1: Be Clear About Your New Offer
That an idea has been in your head for months doesn’t mean it’s ready to see the light of day, or is it? The truth is that you need to do a bit of homework first. This homework will involve asking yourself a few questions.
What specific problem will my new service solve? If you can’t name the problem your service will be solving, then you probably need to spend some more time on it.
Who is this new service for? Are you looking at your current clients as the perfect fit, or will you have to attract a whole new set of audience? It’s important you know your target audience from the get-go, as this will affect virtually everything — your messaging, pricing, and marketing. The clearer you are, the easier it will be to sell.
How does it fit with what you’re already offering? Is it a natural extension of your menu, or are you going off in a totally new and different direction? While your new offer can be totally different from what you currently do, it still has to align with your brand. Don’t go too far off-brand so that people don’t think it’s coming from a totally different business.
Once you’ve answered these questions, you’ll have a clearer picture of your idea and know whether it’s ready to move forward or if it needs more work.
Step 2: Validate Your Idea
This is where many entrepreneurs, both male and female, drop the ball. You have a great idea for a new service. You’ve done your homework to clarify your offer. But that’s just for you. Will people think it’s great enough to open their wallets and pay for it?
According to the U.S. Chamber of Commerce, many business failures can be traced to a lack of demand for their product or service. You don't want to fall into that trap, and this brings us to the next step, validating your idea.
Here’s how to go about it:
Tap into Your Existing Network: Send short surveys to the people who already do business with your company. Ask directly if your idea solves a real pain point for them. If yes, then what would be a good price point? You’ll get a lot of insights from these replies.
Analyze a Broader Market: You should also look beyond your immediate clients or circle. Go on social media. What are people saying about the problem you’re trying to solve? Are other brands offering something similar? If yes, can you see any gaps or opportunities you can take advantage of?
The good thing about doing business today is that you can leverage artificial intelligence to do a lot of the heavy lifting. So, use it. Use AI to analyze the feedback you’re getting to identify patterns and highlight opportunities where you can stand out.
It might be tempting to jump straight into the fun part, but skipping validation is risky. Data-driven decision making gives you the confidence to launch what people actually want.
Many entrepreneurs know this. In fact, it’s one reason why those with an MBA or a Master’s degree in a business-related field are enrolling in Doctor of Business Administration online programs. They want to sharpen their ability to make smart, insightful decisions backed by business intelligence and analytics.
According to Marymount University, programs like these are typically 100% online, so working professionals can study from anywhere.
But do you really need a doctorate to validate your idea? Not at all. While it’s a nice-to-have, what matters is that you’re able to gather the right data and turn it into actionable insights to guide your next move. If you can do that, you’re already far ahead of people who rely on guesswork.
Step 3: Package Your Idea into a Sellable Offer
You’ve gotten your feedback. You think you’re good to go ahead. Now, it’s time to make your idea into a sellable form.
This starts with defining exactly what your clients will be getting. If you were writing it out on a notepad, it would look like this:
What will you do for them? If you offer a coaching service, for example, your answer here could be “three weeks of coaching and mentoring”.
How will they get it? Still using the coaching service, your answer here could be “a one-on-one program, “a Zoom workshop”, “A downloadable PDF released every week”.
What will the end result look like for them? This is where you describe the transformation or outcome for them. For example, after the end of the three weeks, clients will feel confident in their decision-making and ready to take the next step in their business.
Next, set your pricing strategy. Remember, you did a bit of market research where you asked your existing clients to mention a good price point, so you already have something to work with.
These days, clients prefer the tiered-pricing system because it gives them multiple options to choose from. In fact, a recent Gartner survey of US consumers found that 80% see brands with consistent pricing as trustworthy. Offering clear, tiered pricing gives clients that consistency, while also giving them the flexibility to choose the level that suits them.
You could offer a basic, standard, and premium version of your service, each one with different access levels and features. It’s also a good idea to check out what the competition is asking for a similar offering. Compare with what your clients suggest and use that to price each tier.
Step 4: Start With a Simple Working Version
You’ve gotten to this point, and you probably think you’re ready to go live with your new service. Not just yet. You need to test it with actual users, and what better way to do that than with a service version of an MVP?
This means putting together the smallest version of your working idea to see how clients will receive it. Forget about any bells and whistles. Focus on just the essentials and go from there.
For example, if your new service entails a 12-week coaching program, start with a 3-week version.
Invite only a small number of clients. These are your testers who’ll give you honest feedback and help you refine the service. They can even become your first success stories.
At the end of the session, collect feedback.
Did it help them?
What can you do to make it better?
Would they pay for the service again or recommend it to someone else?
Use their experience and feedback to fine-tune your offer before rolling it out to a wider audience.
Step 5: Launch Your New Offer
You’ve done all the important things you need to do, and now it’s time to see your idea come to light.
Start with your existing clients and the people who tested the simpler version of your new service. They already know your brand and what you offer, and most of them will likely say yes, “Let me give it a try”.
So, it’s time to send out those DMs, emails, and social media posts.
Your messaging should be clear, confident, and straight to the point. After all, you’re not a newbie; you’re an established business owner expanding her portfolio. Talk about your new service and the problem it solves. And don’t forget to include a crystal clear CTA that tells exactly what's next to do.
Don’t forget to keep an eye on what’s happening once things have kicked off. Track your metrics to see how the new offering is doing.
How many people clicked?
How many people inquired?
How many people subscribed?
What’s your conversion rate?
These numbers will give you a good idea of what’s working and what’s not so that you can make adjustments as needed. You don’t need anything fancy. Even Google Analytics can give you enough data to work with.
Ready to Bring That Idea to Life?
You’ve got an idea running through your head for months, but you’re worried that bringing it to life will affect your current operations. Hopefully, this article has shown you how that’s not the case and that you can go from I Have an Idea” to “It’s Live!
You already have the skills. You already have the idea. Now you have the checklist. So, why not take that idea of yours and give it the spotlight it deserves? It could be the next big thing for your business.