How do you decide to pursue a business opportunity?
Do you need help making a business decision?
Have you ever had a brainworm?
In the natural world, a brainworm is actually a parasite common to white-tailed deer, which causes damage to the central nervous system. Based on that definition, you might do well to stay well clear!
But in one of my Mastermind calls yesterday, it had a far more palatable meaning.
Louise was seeking an idea for a new way of building the visibility and credibility of her business since the COVID-19 world has removed the conference networking and speaking opportunities that had worked so well in the past.
She's the Director and Founder of a very successful project management organisation on an impressive growth trajectory and is an absolute delight to have in our group. In addition to the insightful contributions she makes to our discussions, she also introduced us to Heads Up on our recent retreat, and we laughed ourselves stupid playing :)
Whilst I won't share the idea itself (we have a significant confidentiality commitment in Next Chapter Masterminds), Louise wants her marketing initiatives to clearly demonstrate how they'll generate qualified leads or revenue for her business before they are developed and launched. This one, on the surface, doesn't seem to offer that obvious, tangible and direct link, but it just won't go away, and so she knows she needs to dedicate some time in her diary to explore it fully.
That's a great example of a brainworm. An idea that has wormed itself into your awareness and just won't leave.
So, what do you do when you have a brainworm encounter and need to make a decision?
This is what I recommend:
Put aside some time in your diary to explore the idea
Grab a big sheet of paper (I love A3 art diaries)
Spill every aspect of the idea onto the page, using post-it notes - what is it, who's it for, why is it useful, how will it help, how does it fit into your product suite, what do you like about it, what concerns you about it, do you see a clear need for it in the market (ie: does it fill a hole you've noticed), how does it align with the philosophy of your business, how might you price it, how will you market it, do you need help developing and delivering it, can it be outsourced?...
Keep going until you're tapped out
Go make a coffee, stay away from the paper for at least an hour and then come back and look again - is there anything you've missed?
Now that you've fully explored the idea, my simple 4-step evaluation system will be rather helpful. I encourage my clients to rate each area on a scale of 1-5, where 1 is not so great and 5 is awesome.
The TICK:
How accessible is this market segment or target customer?
Can you reach the Decision Maker/s easily?
The DOLLAR SIGN:
• How potentially profitable is this audience?
• Do the members of this audience have both the motivation and the means to invest in your product or service?
The HEART:
Pause and look inside
• How does this opportunity feel? Is there a sense of lightness and excitement?
• How much do you love the idea of pursuing it?
The RAILWAY TRACKS:
• Is this option aligned with your values and goals?
• Does this option take you towards your vision or is it a diversion/distraction?
It's safe to say an idea that, realistically, scores just 1-2 out of 5 in most areas is just not a go at the moment.
It may be relevant in the future, there’s no need to discard it completely; however, you should set it aside for now. I have a literal Ideas Box for these bright sparks that fizzle under closer examination.
But if you're scoring 4's and 5's, then it has great potential - go for it!
By the way, the categories below have a business flavour - but you can easily apply them to life decisions too.
Simply replace the criteria with those that make more sense in your context.
For example:
The TICK might reflect how feasible or accessible the opportunity is.
The DOLLAR SIGN could be about emotional, energetic, or lifestyle ROI, not just financial.
The HEART always check how something feels in your body and gut.
The RAILWAY TRACKS stays true to whether this aligns with who you are and where you want to go.
The TICK – Feasibility
Non-business example: You’re considering applying for a leadership program.
Is it logistically viable? Can you access the time, support, and headspace to participate fully?
Do you have what you need to move forward easily, or are there immediate blockers?
The DOLLAR SIGN – Return on investment (not just financial)
Non-business example: You’re weighing up whether to join a local women’s circle or community group.
It may not earn you income, but will it give you energy, perspective, support, joy, or creativity in return?
What’s the personal payoff, and is it worth the investment of your time, focus, or presence?
The HEART – Emotional resonance
Non-business example: You’ve been invited to chair a meeting, and it’s a great opportunity, but your gut is clenched.
Are you excited and nervous in a good way, or does your body feel heavy?
Does this feel expansive… or like obligation dressed up as opportunity?
The RAILWAY TRACKS – Alignment
Non-business example: You’re contemplating returning to study.
Is this decision connected to your future vision and the life you’re intentionally creating?
Or are you tempted because of “shoulds,” external pressure, or a desire to prove something?
Who can you share your ideas with?
Having trusted colleagues that you can bounce ideas off can be a key part of the steps I've outlined above. It's why I love Masterminds so much - the people there with you understand both you and your business and are beside you throughout the journey.
Louise has us. You may have some beautifully aligned people in your business life, which is fabulous. But you also have your own sense of knowing. Trust that.
A final aspect of the decision-making process is being clear about who you are, and how you best work. When I had my Strengths debrief and understood more about how I was naturally wired, it helped me make decisions about the type of services I would deliver with more ease and delight (and what I need help with, or to outsource)
The suggestions above will be helpful when you need to evaluate an opportunity or idea that triggers a Brainworm.
If you'd like my assistance, let’s have a conversation.
I've been helping with business brainworm interventions for years!