4 Yes Evaluation
Aaron Rosenzweig
Product Manager @ American Express | Product Management Leader | Driving FinTech Innovation & Scalable Digital Solutions | Passionate about Data-Driven Product Strategies
Every now and then everyone experiences an invitation from a friend, colleague, or any other person to get on board one of their ideas, be a part of the business that the other person is thinking about. In my experience I have made a lot of mistakes that have taught me not to rush into the ideas, think them over, and make a thorough evaluation, this evaluation I even do it to the ideas that I come up with. After a few evaluations I started to see a pattern of the ideas I accepted and the ideas I did not accept. All of them were reduced to 4 yeses.
First yes. It is very important in this first step to know in general terms the idea of the business. In this step I like to listen how the person came up with the idea, and the most important part of this step is getting to know the problem, and letting me fall in love with the problem. When I evaluate one of my ideas, I come first with the problem and then the solution. Learning the business market (who are the potential customers, who might be the buyers, where do they live, what are the customers' profiles), the general idea of the business and in the case needed, the story.
Second yes. It is very important to consider ones persons feelings, thoughts, emotions towards an idea and story that one has to think their position, so that they can make a rational decision. If we want to do what we like then we have to ask ourselves about the option, opportunity - however that the reader wants to put it - if we like the opportunity that its presented in front of us. If we want to be an integral part of a business, if we want to lead a business forward, guide it to success, and see it grow. We have to like the idea, we have to like the story that has been told to us, so that we can be part of the next chapter (part) of the story.
Third yes. It is very important at this point, to know the details of the business or of the idea. In order to be part of the idea, we have to know the specifics of it. The financial aspect of the idea and/or business is a very important one, as it shows what are the next steps. We have to know where does the idea stand, what is the vision, where does the team want to take the idea, what can you offer the team and what it needs to get done in order for the idea to start, grow, etc. (Not everyone is asked to be part of a business or idea in the beginning, many are asked as the business is expanding, shrinking, reshaping, etc.) It does not matter at what point of the life of a company you are asked to be a part. However, the answer depends on what you can do to lead the way, what you can offer. Furthermore, in order to answer all those questions you have to know the specifics, the details so that a great decision can be achieved.
Fourth and final yes. After considering all of the points above, it is now a great time to make a decision. If you like the idea, the market, the ideal customer, the product, vision, path and you believe that the resources that the team, idea, and business have at the moment of being asked are a good opportunity for you. Then this is a great moment for you to accept. We all have to remember that sometimes the idea is great, but it stands at a point where you cannot afford to spend a lot of time, or when it is going so well that you cannot see yourself adding something new or value to the business. That is why this yes is very important because it encapsulates all of the previous yeses.
"Look for the yes that inspires you, that makes you a better person, not for the no that makes you greedy and materialistic." Aaron Rosenzweig