Mitch Ditkoff notes a common misperception regarding bad ideas: "One of the inevitable things you will hear at a brainstorming session is something like "there are no bad ideas." Well, guess what? There are plenty of bad ideas....The key for aspiring innovators? To find the value in what seems to be a "bad idea" and then use that extracted value as a catalyst for further exploration." I agree. Good ideas usually start as bad ideas, an insight I learned originally from the folks at S.I.T.. But the question is: how do you extract the value from a bad idea to transform it? I offer three approaches.