At a presentation this week I was asked about what to do with the random hallway ideas that happen in the halls of corporate America. Pay attention? Dismiss? Shelf for a later time?
Here's a framework you can use to evaluate ideas on the fly.
Rank the idea on a scale of 1 to 5 in three areas:
Beliefs - How does this idea sit with my beliefs and values?
Outcomes - If this idea works, are the outcomes something that I want?
Resources - Do we have the resources needed to bring this idea to light?
Three questions to orient and evaluate the new idea. If you don't have the resources (#1), the idea won't fly - it's roadkill. If it doesn't match your beliefs (#2) it won't get buy in. If you aren't excited by the outcomes (#3), the implementation won't get momentum.
Quick, simple, and effective. Try it with this idea:
"We should just buy our biggest competitor."