Idea Generation

Dr. Milton Silver

Outline
General Comments on the Interview protocol Sources of Ideas Two phases Skills needed to generate ideas A framework to think about for entrepreneurship ideas Tool kits

Feedback
Mostly the questions were good Avoid complex questions Avoid questions with yes or no answers, except as probes Sequencing the questions Strategy of interview

Sources of Ideas
Initial considerations Two phases Skills needed to generate ideas

Initial considerations

You see what you believe

Initial considerations
You see what you believe Individual experiences

Individual Experiences
Learning technology push Learning in many places Frustration- self Frustration- others

Opportunity Driven or Problem Solution: Two faces of the same coin

Two Phases of Ideas

Generation of ideas

Generation of Ideas

Which comes first? An idea or a business?

Funny Relationships

Need to start a business

Settling on an Idea

Business Plans

Question

Generate as many ideas you can in ten minutes

Generation of Ideas
Which comes first? An idea or a business? Searching for ideas Trial and error No block bluster, no tiny tot either!

Screening of Ideas
Not all ideas are business worthy Feasibility is two faced Technical Business: market and financial

Two Phases of Ideas

Generation of ideas Screening of ideas End result: A product/service concept

Project ideas
Cogniscope Gastroscope MacroArray technologies MobilDoc Combined Circuit and packet Switching SMIRP

Types of Strategies
Radical Improvements Propagation Hustle Contrarian

A Framework to Think About Ideas for Entrepreneurship

Existing Products
Existing Markets

Modified Products

New Products

Identifiable Markets

New Markets

Existing Products
Existing Markets

Modified Products

New Products

Alternative Greeting Cards Clothes for Overnight Identifiable professional package Markets women delivery Mobile pet Personal New grooming Computers Markets device

Womens Shampoo

Solid state still camera

Specialty sports car Laser discs

Process Innovations

Intellectual property protection is a challenge

Tool kit
Nave listening Look again/ read widely Ask why Post it notes Idea folder