There are plenty of really good ideas out there.  Plenty of really good ideas that you know you can implement into your strategy.  It’s great to have an arsenal of good projects in your pipeline, right?

I disagree.  Having a lineup of good projects is not the answer.  You first have to consider a few things.

1. Does it target the right audience?  Recently we had the opportunity to use our 2,000-seat auditorium to host a concert for a couple bands that are well known nationally. Sounds great, right?  Not for us. They are well known nationally but not by the people we are targeting.  Getting 2000 people through our doors sounds great until we recognize they aren’t our primary target.  For instance, if you sell dog toys and treats, you aren’t looking to fill your store with cat lovers.
2. What kind of resources will it consume?  When you start to allocate your resources and count your costs, remember to include more than hard dollar signs.  Consider manpower and time spent. Not just yours, but your team as well. For us that means all the way down to the janitorial staff and paid security.
3. Does it fall in line with your ultimate goal and mission statement?  The clarity of that has to come from leadership.  If you are responsible for leading the vision of your company or division, make sure it’s clear. Give your team the freedom to run the idea through the filter of your vision to make sure they are on point with the team’s objectives.

Good projects that do not fit into the scope of your goal might be a misuse of resources.  Not all good projects and ideas are for everyone. Although it might not fit into your strategy, it might for someone else you know….and sharing is caring.

Photo Credit: Tax Credits’