ideas in the marketplace
DESCRIPTION
"The business plan doesn't survive first contact with the customer" Why wait this long ? Surely it's better to test an idea much, much earlier to see if it can become a business? This is a London workshop delivered by an experienced lifelong innovator who has helped bring great new products to market. Come along, bring an open mind, and be prepared to help your fellow startups. Also works if you are a corporate product developer!TRANSCRIPT
Twitter - innov8tor3 (c) Blue Oyster Business Growth 2014 1
External Influenceson the Ideation Process
Marketplace Solutions for Real World Issues
Presented By
Peter JonesOf
Blue Oyster Business Growth
For Startups & Product Developers& For Suppliers to Startup Product Owners
Twitter - innov8tor3 (c) Blue Oyster Business Growth 2014 2
Understanding Market Places
● We need to solve many real world problems
– These are often called “gaps” in our market places
● We are best to solve problems “uniquely”
● How can we re-invent cost components?
– (1) Financial (2) Time (3) Resources
● How can we improve performance?
– (1) Speed (2) Experience & Perception (3) Results
● How can we improve continuity?
● Solutions need to be both real & sustainable
Twitter - innov8tor3 (c) Blue Oyster Business Growth 2014 3
Determining Idea Uniqueness
● Can we produce unique ideas?
– “There's no such thing as an original idea” - unknown
– “Thesis, antithesis, synthesis” - Hegel, 1770-1831
● Some “unique” ideas – Doh!
– The wheel, the car, light bulbs, the internet, mobile phones
– The light bulb “moment”? Took 1,000 experiments!
● Creativity is actually a “slow thought” process
● Bloom's “Knowledge” Taxonomy
– Knowledge, Understanding, Application Analysis, Evaluation, Synthesis
And … 1,000 !!!
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Automation Reduces Costs
Start Ups
Reliability & Reach – Easy &
Affordable
Good designersensure fun & access
OUT - High Cost“Consultancy”
IN - Low Cost SaaS
OPERATIONS
“Historic”
“Recent”
Twitter - innov8tor3 (c) Blue Oyster Business Growth 2014 8
Saving Customer ResourcesCustomer Simulation Workshop
Founder presents, “audience” marks out of ten, then averages
Twitter - innov8tor3 (c) Blue Oyster Business Growth 2014 9
Improving Market Performance
● On a market by market basis:
– What works too slowly?
– What works painfully and laboriously?
– What still works very expensively?
● Are there Apps that deliver comparably?
– Do SaaS Apps work quickly, slickly and cheaply?
– Previously, we asked who might deliver consultancy services?
● If no Apps, what is the pain caused, the “opportunity cost”?
– Would the market pay to alleviate the pain?
– Automate existing gap, or find something brand new?
Twitter - innov8tor3 (c) Blue Oyster Business Growth 2014 14
“Competitors”Competitor Discussion Workshop (3 + 3 + 3)
Product Competitors Local Eye Churn
USP Growth
Global Copies None Unique Continuing
Global Copies, Pinterest,
Instagram etc
Many First, Biggest Audience
Stagnating
Zoho Market Leader Cheaper GettingRecommended
Product A / 10 / 10 / 10 / 10
Product B / 10 / 10 / 10 / 10
Product C / 10 / 10 / 10 / 10
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“Competitor” CharacteristicsWhat do we like & miss? An example...
Opportunityeg CompetitveNiche Segment
“Unique”Competitor A
Cost Competitive
“Unique” Competitor B
Niche Customer Segment
NicheCustomerFeature Cost
ReductionFeature(s)
Team A
Owner AOwner B
Team B
����
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Market Influence on Execution & Operation
IdeationDevelopment &
LaunchService Delivery & Operation
ThoroughMarket Research
RiskManagement
New EntrantsNew ProductsOther Markets
CEO “Lean Foundation” ResponsibilityTo Bring Deep Knowledge / High Reputation Resources
Business Development
ProjectLive
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Solving Real World Problems
● UK 2014 – Public Sector Cost Cutting
– Health – bureaucratic, disconnected, disjointed
– Education – overwhelmed, undervalued
● There are real tech opportunities here
Issues
Commercial Opportunity
Opportunity Value
Opportunity Cost
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Improving UK Startup PerformanceSome Key 2014 Opportunities
● Startup market – disjointed
– “Poor ideas” - Hackers & Hustlers
– “No tech companies” - Hipsters
– “Venal 10% investors” - Hipsters
● Startup events – for “Busy Fools” ?
– Chaotic & random – not improving CEO skill levels
– Focused on doing, not structured, applied learning
● Right product, right place, right words, right time?
– Must CEOs be “lucky” to persuade partners to collaborate?
● Only “10% success” levels – some succeed, many don't
– 30% startups fail within 3 years – Alex Pollizzi, BBC
– But many startups never reach the “measurable” stage
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Useful Network Resources
CEO 4 Hire / TroubleshooterLending £1m-£20M
Investor Search & SelectionStartup Funding
Harnessing the Cloud
Team Assessment & MotivationProject Management eg TrelloLean Collaboration Software
Entrepreneurial Success Cultures
IdeationCustomer Discovery
PrototypingTech Solutions
Creative, Innovative Cultures
Social MarketingGuerrilla MarketingDigital MarketingSocial Sales
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Peter JonesInnovator, Opportunity Creator
● 20 year UK corporate career, FTSE & blue chip
● Tech dev, process design, project management
● Owns and runs own small business
● 5 years working with small and startup businesses
● 10 years networking with small businesses
● A UK “market opportunist” - strong hunches where the gaps are
● Ideally positioned to advise & guide young UK tech startups
● Own 10 step startup process - “The Innovation Toolkit”
– For startups and corporate product managers
● Planning to build own App to support hardworking startups