SGFI Spring 2011 Vision (Kris Childress) Apr 12

8/7/2019 SGFI Spring 2011 Vision (Kris Childress) Apr 12

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Vision and Values: The CoreKris Childress

CEO

NanoThree

14/3/2011



What Is Your Passion?

� What do you enjoy?

± Technology, people, ideas?

± Are you a product or a service person?

� Someone oughta do something about that!

� Whats missing in the world?

� What is your/your teams expertise?



What Is Your Vision?

� How should the world change?

� Break from the herd!

� Video on moment of inspiration



From A Vision to A Business

� Should you start small? (not always)

� Build the car . . . dont try to build the road

� Move fast, fail quickly, iterate.

�Must be scalable



The Gestation of A Good Idea

1. You have nails, or

2. You have a hammer, or

3. You have nails and a hammer



The Gestation of A Good Idea

Hammers = Solutions looking for problems

Nails = Problems/Opportunities looking for solutions

Hammer Companies Hyflux Membranes

Google Search (but theyve morphed)

Nail Companies

Apple

Groupon

Reality - most companies combine both more or less



The Space Pen Story - Unpacked

� NASA Spent Millions Actually Fisher private $1M

� Russians used pencils Actually everyone now uses

the Space Pen

� Pencils are just as good Not true flammable &

broken pencil leads = hazardous in zero gravity

� Space Pens good just in space - Also underwater, in

freezing environments, etc.



The Fisher Space Pen

� 1965 - Patent # 3,285,228: Original AG7 Anti-Gravity pen developed byPaul Fisher

� 1968 - Fisher Space Pen used on Apollo 7 (two years of testing by NASA)

� 1983 - Ronald Reagan uses Fisher Space Pen to sign the Proclamation

inaugurating the Air and Space Bicentennial celebrating Man's 1st flight in

hot air balloon

� 1996 - Good Morning America names Space Pen a best stocking stuffer

� 1997 - Used on Everest North Face Ski Expedition

� 1998 - Fisher Space Pen is used on the Russian Space Station Mir to write

the letters QVV (QVC Shopping Network) - the first product sold in space

� 1998 - Seinfeld builds an episode around the Fisher Space Pen



Hammer Dilemma

If you only have a hammer, everything

starts to look like a nail

The problem/opportunity may redefineyour tool kit

You often lack a complete tool kit and

have to work with others: purchase, share,partner, adapt, copy, replace (dont steal)



Translating Idea To Biz

Take Stock: Step back and look.

1. Does anyone want this? Test the market

2. Others do this? Displace current solution?

3. Pivot the idea?

4. How much will it cost to build biz? (Stages?)

5. KEEP IT SIMPLE

6. KEEP IT SIMPLE (simple is often not easy)



Importance of the Market

Companies that cant clearly articulate their

customer and market are not real serious

companies, they are research projects . . .

Engineering and marketing need to work

together from the get go.

-RonaldWeissman, chair of the Software Special Industry Group at Band

of Angels, Silicon Valleys oldest angel investment organization.



Testing the Idea

� Check against the market will someone pay for it?

� Dont get freemium-ized

� Proverbs 15:22: Plans fail for lack of counsel, but

with many advisers they succeed.

� But dont rely on any one adviser (rare cases you may

be successful even when advisers all say NO!)



Good Vs Bad Ideas

� Good ideas bear rigorous review and SELL

� Bad ideas may become good ideas with

± Rework

± Application to a different need

± As technology changes (evolution video) or as the market

changes (augmented reality video)

� Its usually not one idea you need a steady stream



Focus Versus Flexibility

� One of the toughest balancing acts

� Survival favors the adaptable BUT you have to

win your niche� Be flexible but not wishy washy



Thank You

Questions, Comments,

Rotten Vegetables?

Documents

SGFI Spring 2011 Vision (Kris Childress) Apr 12