12.10.20 finding the best ideas a different way to recognize innovative ideas
DESCRIPTION
You can save time and money while finding better ideas faster by accurately eliminating ideas. The IDEA Formula helps you do that.TRANSCRIPT
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Joseph F. Dellaria, Jr., Ph.D.
Founder and President
(651) 436-6494
mobile: (651) 216-1563
www.PerceptiveRealities.com
1 © 2007 Joseph F. Dellaria, All Rights
Reserved Confidential, For Private Use Only
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Career Highlights • Training: B.A. in Chemistry (Hope College); Ph.D. in synthetic organic chemistry
(U. of MN); Post-doctoral research (Cal. Tech. and Harvard University)
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• Research and Discovery Experience: over 35 years of doing and/or managing
research; 28 years of industrial experience
• Publication Summary:
- Co-inventor on 55 patents
- Author/co-author on 30 peer reviewed articles
© 2007 Joseph F. Dellaria, All Rights Reserved
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• Other:
- International Speaker - Inventor
- Numerous invited and professional lectures - Author
- Workshop leader - Consultant/Trainer
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While sorting ideas people often:
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• Work too long on ...
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While sorting ideas people often:
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• Work too long on ...
• Miss opportunities leading to ...
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Stage 1.
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Stage 2. Stage 3. Stage 4.
Ideation
Idea
Assessment
Research
& Develop.
Commercialization
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Stage 1.
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Stage 2. Stage 3. Stage 4.
Ideation
Idea
Assessment
Research
& Develop.
Commercialization
What you have at the
end of Stage 2 ...
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Two Types of Information-Poor Ideas
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Information Poor Ideas that Cannot Work
Information Poor Ideas that Can Work
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They are like Scratch-Off Lottery Tickets
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Scratch-Off Lottery Tickets and Information-Poor Ideas
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• Winners and Losers ...
• There aren’t many ...
• To win big, you have to ...
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Generating New Information
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• New information is created by ...
• This requires ...
• The covering is removed ...
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Eliminating ideas
• Quickly
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• Accurately
• At the lowest possible cost
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Using the Idea Value Formula
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x =
Total
Idea
Value
Technical
Opportunity
Value
(Can it work technically?)
Business
Opportunity
Value
(Can it work financially?)
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Using the Idea Value Formula
16 © 2007 Joseph F. Dellaria, All Rights Reserved
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x =
Total
Idea
Value
Technical
Opportunity
Value
(Can it work technically?)
Business
Opportunity
Value
(Can it work financially?)
• A Total Idea Value of ZERO means the idea
CANNOT WORK, eliminate it
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The Power of the Idea Value Formula
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x =
Total
Idea
Value
Technical
Opportunity
Value
(Can it work technically?)
Business
Opportunity
Value
(Can it work financially?)
• The Total Idea Value is zero if either
Opportunity Value is zero
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The Power of the Idea Value Formula
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x =
Total
Idea
Value
Technical
Opportunity
Value
(Can it work technically?)
Business
Opportunity
Value
(Can it work financially?)
• Deliberately look for Disqualifying Flaws to
eliminate ideas with a zero Total Idea Value
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A flaw that prevents an idea from becoming a
profitable product
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A flaw that prevents an idea from becoming a
profitable product
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• The absence of a necessary positive feature
• The presence of an undesired negative feature
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Now is the time to start scratching
• Higher quality ideas remain
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• Increased “batting average”
• Fewer overall resources are used
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Does This Really Work?
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In a Major division at 3M:
Situation: 27 new ideas needed to be prioritized
Time: Identified the best projects in 40% of the time
Resources: Used less than 20% of the resources normally used
Estimated Savings: $1 million in time alone
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Do you need to try
something different?
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Due out in
early November
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1The Innovation Continuum is a modification of concepts originated by : Ansoff, H.I., 1957.
100
100
0 0
% Idea IN
NOVA
TIO
N
Competitive Advantage
New Idea
New Market
Existing Idea
Existing Market
New Idea
Existing Market
Existing Idea
New Market
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Present
Mid-term
Long-term
100
100
0 0
% Idea IN
NOVA
TIO
N
Competitive Advantage
New Idea
New Market
Existing Idea
Existing Market
New Idea
Existing Market
Existing Idea
New Market
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100
100
0 0
% Idea IN
NOVA
TIO
N
Competitive Advantage
New Idea
New Market
Existing Idea
Existing Market
New Idea
Existing Market
Existing Idea
New Market
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Confidential, For Private Use Only
100
100
0 0
% Idea IN
NOVA
TIO
N
Competitive Advantage
New Idea
New Market
Existing Idea
Existing Market
New Idea
Existing Market
Existing Idea
New Market
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Confidential, For Private Use Only
100
100
0 0
% Idea IN
NOVA
TIO
N
Competitive Advantage
New Idea
New Market
Existing Idea
Existing Market
New Idea
Existing Market
Existing Idea
New Market