How to unlock large companies in just 4 minutes Entrepreneur

Need a great business idea? Just set aside for four minutes.

That is the advice of Mike Michalowiczauthor of nine books and host of the new TV series 4 minutes money maker. In the show he helps business owners quickly solve real problems – by coming up with as many ideas as possible in just four minutes.

But it’s not just a TV gimmick, he says. It is a real strategy that he uses to help entrepreneurs to solve problems, to unlock growth and identify new opportunities.

Here he explains how it works.

You are known as the Systems Guy. Do you have a system for generating ideas when a company is stuck or even starts with Platline? How can anyone replicate that to breathe new life into their own company?

Michalowicz: Absolute. Generating ideas is a skill, not talent. And like any skill, practice is getting better. The best way to start is by using a method to structure your brainstorming, especially if you learn to bend that creative muscle.

If you are not sure what to repair, I use a tool called Dumbo: Desire, Understanding, Method, Faith, Outcome.

I start with questions: what does the customer want (wish) versus what do they actually get (outcome)? If there is a mismatch, I check the method to deliver my product or service. (I will explain that below.) If the method works well, the real block may be that customers do not understand how to use it, or not believe it will work for them.

Example: A meal preparation company is struggling with retention. Your customers wish healthy meals in a few minutes, but the result is that Prep still feels too long. The method is the sending of raw ingredients – and although technically it can deliver the healthy meals they wish, your customers may not understand how they can prepare these meals efficiently, or they don’t believe it really saves time. Anyway, that means they will leave your service.

This is where generating ideas comes in. One of my go-to tools is the random Mashup. I don’t take two – related things – say, a snowman and a grass feed – and see which sparks:

• Snowman: Frozen, ready-made meals customers can be in stock.
• Lawnchair: Marketing that promises: “Dinner is ready so quickly that you can enjoy more time in your grass shipment.”

A quirky mashup like this may sound absurd, but it often arouses practical experiments, such as reformulating your marketing or offering a uncomfortable product.

Follow three basic rules to get the most out of it:

• Set a timer. For four minutes, the Sweet is spot – long enough to make ideas flow, short enough to keep the energy high.
• Stay with one problem at the same time. Focus keeps ideas relevant.
• No assessment. The wilder the ideas, the better.

Dumbo shows you where to focus. The 4-minute Mashup shows you how to spark solutions. Together they unlock breakthroughs quickly.

What are the most common mistakes that entrepreneurs make in generating ideas?

Michalowicz: The search for perfection, considering and tackling too many problems at the same time are common trials. Entrepreneurs store the “perfect” idea, get bogged down in analysis or spread their focus. The 4 -minute method solves this: focus on one problem, prioritize quantity over quality and set a strict timer to quickly generate ideas. Then refine and test the ideas with the most potential.

How do you filter which ideas are worth striving for?

Michalowicz: I use the lens of impact versus effort. Start with ideas that have a high impact and low effort. Fast implement, test and itteren. Often the fastest victories come from simple, usable movements.

How can an owner of a small company make a filthy idea a permanent system?

Michalowicz: First test the concept. For example, let’s think about the meal preparation, of which the customers struggled with preparation time. That company could control a small series of ready-made meals for a week, follow the sale and repeat assignments.

Always involve customers and meet behavior, not just words. As soon as you know for sure that the idea is resonating, you must allocate the systematization – assign documents, allocate responsibilities and make it repeatable. Fast experiments can become real growth engines.

What advice do you have for entrepreneurs who feel that they are not “ideas of people”?

Michalowicz: Everyone can generate ideas. It is a skill, not talent. Make ideas part of your regular work. Plan time and user structure – a strict timer, one problem to solve and focus the output (such as 10 ideas in four minutes). Ideas are just the spark; Implementation feeds the fire. Lean in your strengths, bend your ideas muscles and make ideas a routine.

The 4 -minute method is fast, usable and surprisingly effective. I use it in my own company and to help entrepreneurs resolve real challenges. You don’t need a TV program. You are just a timer, a problem and the willingness to act.