Business Ideation Quotes

“No matter how wonderful an idea may be, the ultimate question is "will the idea be profitable?" If the answer to this question is yes, it's a good idea. If the answer to this question is no, it’s a bad idea.”
― Hendrith Vanlon Smith Jr., Business Ideation: The Five Steps

“Value has to be at the heart of business ideation because the exchange of value is what business is all about.”
― Hendrith Vanlon Smith Jr., Business Ideation: The Five Steps

“In many ways, ideation has been the way that businesses cope and survive.”
― Hendrith Vanlon Smith Jr., Business Ideation: The Five Steps

“Ideas, well exececuted, have the power to spark revolutionary new ways of being that improve and enrich life.”
― Hendrith Vanlon Smith Jr., Business Ideation: The Five Steps

“In order for an idea to be viable, there has to be a market willing to pay money for that idea, presented as a product or service.”
― Hendrith Vanlon Smith Jr., Business Ideation: The Five Steps

“Trying to ideate in business without thinking in terms of value is like trying to ideate in engineering without thinking in terms of physics.”
― Hendrith Vanlon Smith Jr., Business Ideation: The Five Steps

“Ideation is one of the most important parts of business and it's a skill every manager, every employee and every executive will benefit from having.”
― Hendrith Vanlon Smith Jr., Business Ideation: The Five Steps

“Ideation is an extremely important part of business.”
― Hendrith Vanlon Smith Jr, Business Ideation: The Five Steps

“The Hendrith Business Ideation Framework is a five-step process designed to help entrepreneurs and business leaders generate and develop successful business ideas. The framework begins by emphasizing the importance of establishing a value basis for the product or service, ensuring it offers genuine value to the customer. Next, it highlights the need to estimate the market, including identifying the target audience and evaluating their willingness to pay. The third step focuses on imagining efficient delivery, which involves determining if the business can effectively and profitably deliver the product or service to the market. The fourth step involves evaluating the profitability of the proposed idea, ensuring it can generate revenue and sustain the business. Finally, the framework concludes with execution, where the idea is put into action and brought to market, requiring capital, a robust strategy, and actionable steps.”
― Hendrith Vanlon Smith Jr.