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