The Ultimate Investment

Brainstorming is a simple, effective way to approach problem solving of any kind.  Here’s how it works:

First, find a quiet place where you won’t be disturbed.  Set aside about an hour.  Take out a clean sheet of paper and write down your problem in detail at the top of the page.  Include the parameters you need to work within, such as how much money you can afford to spend, how much time it can take, what location it has to be within, etc.  Be careful you don’t include restrictions which don’t legitimately exist.  It will restrict the list of possible solutions. 

Next, begin writing down every possible solution that comes to mind.  Don’t worry about whether it’s good or not, just write it down.  Evaluating the options comes later. 

For the next forty five minutes write down every possible solution that comes to mind.  It will require some real intense focus.  Don’t give up until you’ve listed at least thirty solutions (more if you have time).  The first seven or eight will come fairly easily because they are obvious.  The rest will take a little more delving into your creative genius.  The last few are very creative and may be the best solutions. 

Next go back through your list and pick which solution, or group of solutions, best solves your problem. 

Hank was faced with the daunting task of leasing space in a large regional mall which had just come out of bankruptcy.  The mall’s reputation for business failures was horrible.  He had to find a way to attract business which would boost the reputation and increase the mall’s traffic.

He sat down and listed out all the possible ways he could attract businesses on a limited budget.  Many were very creative, if a little out of sync with industry norms.  Hank got on the phone to his boss and got permission to try some of the ideas.  Now mind you, these ideas weren’t necessarily original, but they hadn’t been tried in the same format he was proposing. 

First, Hank put a classified ad in the local newspaper:  ”Wanted.  People to be their own boss.  You bring the idea.  We teach the rest.”  The calls started coming in.  He met with quite a few people and whittled down to those he thought had the best ideas for trying in a mall setting.  Together they worked up a business plan, merchandise design, advertising, and product pricing.  They got their business license, financing, and sources of supply.  Finally they worked up a creative lease to help them get started. 

Instead of charging rent in the normal way, Hank’s company agreed to receive a percentage of sales as rent.  If the store did well, the rent was good.  If the store didn’t do well, then the rent was low.  The risk for the new business owner was substantially reduced.  Tremendous incentive was given to the mall management to do whatever it could to help the tenant succeed. 

This type of partnership grew until a full forty percent of the mall was filled with merchants in this program.  Things started to move and traffic increased.  The bad reputation started to fade. 

This idea didn’t originate with Hank, but many of the ways he found to successfully implement the concepts came from a single brainstorming session.

From now on, enjoy using your brain for what is was intended — thinking, solving problems, exploring opportunities.