Idea Generation
Dr. Milton SilverDr. Milton Silver
Outline
General Comments on the Interview General Comments on the Interview protocolprotocol
Sources of IdeasSources of Ideas Two phases Two phases Skills needed to generate ideasSkills needed to generate ideas
A framework to think about for A framework to think about for entrepreneurship ideasentrepreneurship ideas Tool kitsTool kits
Feedback
Mostly the questions were goodMostly the questions were good Avoid complex questionsAvoid complex questions Avoid questions with yes or no answers, Avoid questions with yes or no answers,
except as probesexcept as probes Sequencing the questionsSequencing the questions Strategy of interviewStrategy of interview
Sources of Ideas
Initial considerationsInitial considerations Two phasesTwo phases Skills needed to generate ideasSkills needed to generate ideas
Initial considerations
You see what you believeYou see what you believe
Initial considerations
You see what you believeYou see what you believe Individual experiencesIndividual experiences
Individual Experiences
Learning – technology pushLearning – technology push Learning in many placesLearning in many places Frustration- selfFrustration- self Frustration- othersFrustration- others
Opportunity Driven or Problem Solution: Two faces of the same coin
Two Phases of Ideas
Generation of ideasGeneration of ideas
Which comes first? An idea or a business?Which comes first? An idea or a business?
Generation of Ideas
Funny Relationships
Need to start a business
Settling on an IdeaBusiness
Plans
Question
Generate as many ideas you can in ten Generate as many ideas you can in ten minutesminutes
Which comes first? An idea or a business?Which comes first? An idea or a business? Searching for ideasSearching for ideas Trial and errorTrial and error No block bluster, no tiny tot either!No block bluster, no tiny tot either!
Generation of Ideas
Screening of Ideas
Not all ideas are business worthyNot all ideas are business worthy Feasibility is two facedFeasibility is two faced TechnicalTechnical Business: market and financialBusiness: market and financial
Two Phases of Ideas
Generation of ideasGeneration of ideas Screening of ideasScreening of ideas End result: A product/service conceptEnd result: A product/service concept
Project ideas
CogniscopeCogniscope GastroscopeGastroscope MacroArray technologiesMacroArray technologies MobilDocMobilDoc Combined Circuit and packet Switching Combined Circuit and packet Switching SMIRPSMIRP
Types of Strategies
RadicalRadical ImprovementsImprovements PropagationPropagation HustleHustle ContrarianContrarian
A Framework to Think About Ideas for Entrepreneurship
Existing Products
Modified Products
New Products
Existing Markets
Identifiable Markets
New Markets
Women’s Women’s ShampooShampoo
Alternative Alternative Greeting Greeting CardsCards
Solid state Solid state still camerastill camera
Clothes for Clothes for professional professional womenwomen
Overnight Overnight package package deliverydelivery
Specialty Specialty sports carsports car
Mobile pet Mobile pet grooming grooming devicedevice
Personal Personal ComputersComputers
Laser discsLaser discs
Existing Products
Modified Products
New Products
Existing Markets
Identifiable Markets
New Markets
Process Innovations
Intellectual property protection is a Intellectual property protection is a challengechallenge
Tool kit
Naïve listeningNaïve listening Look again/ read widelyLook again/ read widely Ask whyAsk why Post it notesPost it notes Idea folderIdea folder