Idea Generation Process for Startup Businesses

Idea Generation

Business Initiation- Isti Raafaldini -

ENTREPRENEURIAL PROCESS

Opportunity Resources

Team

Founder

Sustainability : Environment, community, society

Business plan

Fits and gaps

Timmon’s Model

The Opportunity

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Opportunity

• Not every good idea is a good opportunity• Opportunities -> idea, that if it is realized, it

would provide a significant added value for the company

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• To build a team is the biggest challenge

• Entrepreneur as a player and coach in the company:

- Determining of direction- Shaping the company culture

Arthur Rock (Harvard venture capitalist) : “If you can find good people, they can always change the product. Nearly every mistake I’ve made has been I picked the wrong people, not the wrong idea”

The Team

The resources:a) Financial accessb) Assetc) HRd) Business Plan

The Resource

“Thinking money first is a big mistake” Untuk mendapatkan sumber daya : Potential opportunity Solid team

Bootstrapping is A Way of Life

Think Big Enough!

• The biggest MISTAKE: Think too small• Chances to survive and succeed for small

businesses is lower

if it is successful, the benefits will not be comparable• Start from small, yet grow to be a BIG

business

Arthur Rock : find a business concept that will change the way people live

…. Business

• Create a new businesses,• Get / buy an ongoing business• Do the franchise (franchise).

PRODUCT

• Video

…..choose your product

• Offering value-added• Starting from the preference• unique• Answering the need / consumer problem

… how?

• Create products or services that are not in the market (New-New Approach), or

• Adapt an existing product in the market and deliver innovation that will create or expand existing markets (New-Old Approach)

• Delivery• packaging

• Design• Quality

• Trend

• Unexpected event, exp: Post it (3M)

• Knowledge based concept (commercialization), exp: mobile technology, pharmaceutical industry, robotics

• Incompatibility (Ketidaksesuaian)

• Needs, exp: Venture capital business• Industry and market changes, for example: business for

customized products, distro, boutique• Demographic changes, for example: the culinary business,

agribusiness• Perception changes, for example: organic food business and a

healthy lifestyle (healthy choice)

SCANNING AN IDEA

Product ideas• Market needs• Technology• Raw materials• Expertise• Cost of production

What do customers want?How to satisfy customers?

How best to do it?

Use your creativity

Suggestion

Try to listen to other people

22

Suggestion

ObservationOne way to fulfill

customer’s needs is by

looking at the people around

us doing unusual things

IDEO designer Jane Fulton Suri

Examples of innovative products

Examples of innovative products

Your Innovation?

What is your product?

• video

MORPHOLOGICAL MATRIX

Contain beverage

can bottle bag box

Material for drink container

aluminum plastic glass waxed cardboard

Mechanism to provide access to juice

pull tab insert straw twist top tear corner

Source: Dym & Little, Engineering Design

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