This guest post is written Nancy Marmolejo, an award winning business owner who teaches entrepreneurs how to stand out as experts in their fields. The founder of the highly successful Viva Visibility, Nancy recently launched a free virtual chat series “The Wild Idea That Paid Off” to encourage entrepreneurs to think broadly and to encourage curiosity. With 8 forward thinkers joining her, this series is designed to give concrete steps to turning your wild ideas into profitable, lucrative payoffs.

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By nature, entrepreneurs are highly creative thinkers. Every aspect of a business – from filling a need, to solving a problem, to marketing, to selling, to serving customers – is an expression of creativity.

But for every great idea that gets launched, millions more go the wayside because entrepreneurs simply don’t know how to take action, how to decide if something’s worth pursuing, or if the time is right.

Wild ideas are GREAT for business… and now more than ever is the time to take action. Why? Because so many people are playing it safe, the playing field is wide open for wild ideas.

This is the time to be bold and brave, to lean out instead of leaning in, to move into the unknown rather than stay in the familiar.

But how do you do that without losing your shirt? Follow these tips, inspired by real-life
success stories, and see your wild ideas pay off!

1. Don’t wait until you know everything
The time it takes to become perfect at something is a surefire way to miss an opportunity.
Never stop learning, but at some point you must take action before- even before you know
all the details. Entrepreneurs are fast learners- never underestimate your ability to learn on
your feet while you’re taking action. As Michael Port shares in “The Wild Idea That Paid Off”
virtual chat series, “Be a blank piece of paper with a beginner’s mind.” Let the knowledge fill
you as you go along.

2. Turn past failures into future successes
Thomas Edison took over 1000 tries to invent the lightbulb. You might fail at something too…
but that failure could be the path to your next big success. Branding expert Kim Castle turned
a disastrous financial situation into multi-million dollar business by simply plucking out the
lessons and spinning them into gold. (Kim shares her entire story in an interview we did).
Where there’s failure, there’s opportunity!

3. Step out of the safe and familiar
Trailblazer coach Shawn Driscoll hung out mostly in the background until one day she decided
to break out and fully express her talents through her business. It frightened people around her,
but the bold steps have paid off. Productive Flourishing’s Charlie Gilkey walked away from an
established career and doctoral program to begin a business that served the needs of creative
entrepreneurs. Social media pioneer Jack Humphrey gave away an extremely valuable product
for free at the risk of losing $100,000 in sales. Marketing expert Ellen Britt chose to brand her
business with an unconventional, regional twist. They each were told not to take the risk but
they did… and it paid off. Get out of the safe and familiar and take bold steps into the unknown.

4. Live a creative life
Creative people don’t just summon up their creative juices when needed. They show curiosity,
try new things, and embark on new adventures. Business coach Andrea Lee views life as a
creative adventure and puts what she learns into her business and live events. Author and
coach Pamela Slim is drawn to great ideas in all aspects of her business and life. The creative
life is a way of seeing possibilities and taking action on them.

5. Make a plan
Taking risks and being spontaneous can still follow a plan, which is what 9 innovative thinkers
all agreed was the key to success in these conversations on creativity and innovation. Being
able to put your creative ideas into action is what separates wild ideas that go nowhere from
wild ideas that pay off. Look at the big picture. Chunk it down into action steps. Map out the
details and set deadlines. Stay accountable to yourself and someone else so things get done.
This is where the rubber hits the road and where the success stories are born.

There’s a big difference between a wild idea that pays off and a distracting bright shiny object.
Follow these tips to turn your wild ideas into profitable paths to happiness, prosperity, and
innovation.