Bob Serling – The Million Dollar Minute

Here’s What’s Included:

 

There are three Phases in the complete process. Each Phase has just a few simple steps, all easy to learn and execute.

So let’s take a look at the steps that make up each Phase in this innovative process.

This will give you a better understanding of the overall process – and what’s covered in the program.

 

Phase 1: Preparation

 

Step 1: Establish your goal.

 All projects need to have a single goal. Otherwise, your attention is pulled in multiple directions, resulting in poor overall results.

This step provides a simple method for selecting your single, ideal goal.

And it’s especially useful for identifying the single best goal when you need to choose between two or more excellent goals.

 

Step 2: Create your Focus Statement.

Not only do you need to select a single goal, but you also need to be able to clearly state that goal and the outcome you want to achieve.

This is done with a Focus Statement, which is a tightly defined statement of what success will look like when you achieve your goal.

In this step, you’ll get an ingenious process for creating an accurate, impactful definition of your goal in 15 words or less.

 

Step 3: Assemble your team.

In order to create the most dynamic marketing, product, and service ideas possible, you need to limit the size of your team.

The maximum number of people on your team should be 8. However, the process can be run just as effectively with just 1 or 2 team members.

 

 

Phase 2: The Million Dollar Minute IDEA process

 

There are four steps in this Phase, represented by the acronym IDEA.

This is where you’ll gather all your research… organize it in a way that’s designed to optimize your ability to create breakthrough ideas… actually create your initial ideas… improve on those ideas… and finally select the single idea that’s best for creating an exceptional marketing strategy, product, or service.

 

Here’s what’s covered in each of these steps.

 

I – Information immersion. In this step, you’ll gather all information that’s relevant to your goal. This includes finding out everything you can by gathering published information, talking to your customers, studying your competitors, and more.

And here’s the CRITICAL point that drives the entire Million Dollar Minute process:

Whenever you’re gathering information that will inform the development of your marketing, products, or services, the single most valuable source of information that will truly move the needle is customer intelligence.

This intelligence includes actual customer experience and customer buying behavior. And it must be collected directly from your customers, not from third parties or focus groups.

Collecting this information in the most effective way, is so critical to your success, that there’s an entire section devoted to an innovative method of gathering next-level customer intelligence. By using this method, you’ll gain a deep level of customer intelligence that none of your competitors can hope to match.

D – Develop raw ideas. This is an “incubation” stage where you begin to develop raw product or marketing strategy ideas and idea fragments. It’s fun, exhilarating, and extremely productive!

E – Eureka (potential Million Dollar Ideas evolve). Next, we move to a deeper level of “idea engineering” where many of the raw ideas from the previous step are refined into complete ideas with tremendous profit potential.

A – Authenticate each idea. The ideas from the previous step are put through a quick but rigorous verification process. Each product idea or marketing strategy is validated against real-world requirements and constraints. The goal is to arrive at The Million Dollar Minute – that single minute where you identify the most lucrative product or marketing strategy for your business.

Phase 3: Executing your Million Dollar idea

In this final Phase, an action plan is developed to implement the product idea or marketing strategy you’ve created. As great as any new idea may be, nothing will come of it without a strong implementation plan.

At the same time, the plan must be simple and action-oriented to ensure that it actually gets carried out quickly and effectively.

There are two levels to this phase:

Level 1

1. Put someone in charge

2. Commit all necessary resources

3. Set a completion date

Level 2

1. Plot your course

2. Carry out your plan

3. How and when to modify your plan

4. How to stay motivated

This is a critical phase and it’s been carefully designed to make sure your plan is complete, easy to implement, and keeps you engaged and motivated all the way to completion. There are obviously considerably more details for each step at each Level, but this should give you a good overview of what’s included for this final Phase.