1. Innovative Entrepreneur Skills? Myths! More> Lounge47, Aug 16, 2014 Sudeendra.Koushik@gmail.com

2. How many of you see yourself as a Innovator ?

3. What is Innovation Develop an idea that can be of social and/or commercial use to mankind

4. Innovation is NOT only

5. 43 % 42 % Household insecticides market = 3000 cr

6. Social Innovation Commercial Innovation Welfare Self esteem driven Lifestyle is key IP/Patent is not key Pull Innovation Not for profit Industry Technology driven RoI is key IP is a goal Push Innovation For profit

7. JC Bose Wireless communication 1894 Archimedes Sushrutha / Charaka Yoga Kanad _ atomics Bhaskara _ algebra Nagarjuna_Chemistry Bharadwaj _ Aviation

8. Where are you India ? INTERNET Timothy B Lee CELL PHONE Martin Cooper

9. Patents

10. What is missing? Skill Habit That you can learn, practice it to perfection That you keep repeating, Even unconsciously

11. Where am I

12. I don't believe there is such a thing as a non-innovative person. Everyone is innovative somewhere in his or her life. - Anonymous

13. Innovation is for Children ??

14. Business Process Idea YOU as Intra-preneur Idea

15. YOU as Entrepreneur Business Plan IdeaIdea

16. Your Innovation Products & Services Process Business model None of your business Everything else Faster, Better, Cheaper Fast food delivery Value Chain, Eco-system - Wal-Mart, Dell Finance, Billing, Customer service Payment gateway, ATM Features, New applications, New products, New services Glass staircase Examples Ipad, Appstore, Opensource

17. Idea Solutions & Decision making Selling your innovation ARTIST SCIENTIST INDUSTRIALIST

18. How to Spot Innovative opportunity?

19. What is your Experience of a Auto ? Why 3 wheels Why they squeeze in Congested traffic Radius of turning Camera Tripod allows the most precise moments to be captured and that too sharply Unpredictable movements

20. PROBLEM FRAMING TRENDS FIX GAPS How to start Identify a valuable Problem Sony Walkman ?

21. Bitter medicine Mosquito repellant Ganesha around the world Chotakool Problems are everywhere if you want to see it PROBLEM FRAMING

22. Face-book vs. Orkut Nokia and dual sim Kodak and Digital Camera Ambassador, Premier Padmini Vs Hyundai, Toyota Stitched vs Ready made clothing Desktop versus Tablet, Notebook computers Landline versus mobile TRENDS

23. McKinsey Global Institute - TrendsMobile Internet Knowledge work Automation Internet of things Cloud Technology Advanced Robotics Autonomous vehicles Next-gen Genomics Energy Storage 3D Printing Advanced Materials Advanced oil & gas explorations / recovery Renewable energy

24. Gatorade sports drink 24 hour day care Big size clothing Tata Nano FIX GAPS

25. Traits of a Innovator? EXPERIMENT OBSERVE (analogy) HARD WORK Find other uses For existing thing

26. 10,000 + experiments Edison 51 attempts of angry birds 5200+ prototypes of Vacuum cleaner Sachin Tendulkar Sprint runners on sand Rocky First Flight of 6 minutes EXPERIMENT HARD WORK

27. 3m Coating Post it notes Microwave oven Velcro Penicillin Alexander Fleming OBSERVE (analogy)

28. Habits of a Innovator? PASSION READ-READ- READ MORE INTUITION FACE FAILURE LOG BOOK

29. PROBLEM section IDEA section LOG BOOK

30. INSIGHT / RESEARCH PSEUDO- EXPERIENCE READ-READ- READ MORE

31. 91 year old masters Left school at 14 Dr Devi Shetty's Bangalore-based Narayana Hrudayalaya hospital performs more heart operations a day than Singapore and Malaysia together. MRF Pace Bowler? Make cartoons Make people happy ! Passion Passion Passion PASSION

32. How do you develop intuition ? Contemplate solitude Newton Fall of apple Archimedes Gold in crownAadi kavya.. INTUITION

33. FACE FAILURE

34. People see RESULTS and not the STRUGGLE

35. BORED ?

36. Seat for standing

37. Creative problem solving is looking at the same thing as everyone else and thinking something different. Nobel prize winner, Albert Szent-Gyorgi

38. Who gives ideas at work YOU caniff .. YOUR IDEA change the way people LIVE or WORK Arthur Rock, star investor Intel, Apple, Teledyne, more

39. What is Product or Service Product Tangible Generalized How customer decides Manufacturing to dealer shop Product marketing Innovation based on technology Service Intangible Personalized How customer decides Manufacturing to customer service Service marketing Innovation based on experienceRice, Sugar Bank, SaloonCar & service

40. Opportunity identification Idea Or Solution PRODUCT SERVICE Solves New Problem Solves Current Problem PATENT Timely Attractive Durable Available

41. Opportunity identification PRODUCT SERVICE Timely Attractive Durable Available

42. So Whattest People dont buy WHAT you do People buy WHY you do

43. Myth-1 Entrepreneurs are born, not made Experience Learning Pursuing an opportunity

44. Innovation is NOT about ideas only Innovation is NOT about Technology Innovation is about meeting needs & Innovation is about creating Businesses Entrepreneurship

45. Formal Degree matters ? Ratan Tata BS Architecture (62) / Adv Mgmnt Prog Harvard (75) Mukesh Ambani BE Chemical, 1 yr (of 2) MBA Stanford Anil Ambani MBA Deepak Parekh (HDFC) CA Kumar Mangalam Birla CA. MBA Narayana Murthy BE(univ of Mysore), Mtech

46. Time Market Size

47. Opportunity marketFinancial Organizational Product / Service ?

48. Hype Cycle for Consumer Devices

49. Myth-2 Anyone can start a business Planning Luck Perseverance 1 in 10/20 survive 5 years period for capital gains

50. How they started HP Motorola Sony Ex. Walkman Bowling foul line indicator Telescope clock Drive Urinal Auto flush Shock to lose weight! Had no idea Made Rice cooker ! Failed Struggling battery eliminator repair biz P&G Soap and candle maker

51. Myth-3 Entrepreneurs are gamblers Take risks - Calculated risks

52. Value chain analysis Inbound Operations Outbound Sales & Marketing Secondary / Support Profit feedback

53. Myth-4 Entrepreneurs wants all for themselves Team needed to grow big

54. Boxing INVENTOR Entre/intra Preneur PromoterManager High Low High Low Creativity & Innovation GM skills, Biz Know-How, Networking Time telling Vs. Clock building Built to last

55. Myth-5 Entrepreneurs work longer than managers at firms Mixed evidence

56. Myth-6 Money is the most important ingredient One of the least important ingredient

57. Myth-7 Entrepreneurs should be young and energetic Age is no barrier 30s to 60s

58. How late is late KFC Colonel Sanders was started at 65 Steve built his first computer at 10 Ramanujam Own theorems by 12 Edison Printer as a kid

59. Myth-8 Entrepreneurs seek power and control Sense of accomplishment

60. Opportunity & Idea or Case build-up Decision Making Solution generation PoC / Patent Validation Idea Selling Movie 127 hours EXIT Time Difficulty per step ~ F(energy already spent) Dont get emotionally attached Valuable problem? Valuable Solution?

61. Timmons model Opportunity Resources Team

62. Myth-9 Talent is enough; success will follow in a year or two What else is more common Maxim amongst VC Lemon ripen in 2/2.5 years Pearls need 7/8 years

63. Myth-10 Any good idea will get money in Only 1 to 3 in 100 are funded

64. Business Plan Sense of Excitement Along with facts and figures - anticipation and excitement of the possibilities that surround a new venture

65. Myth-11 Good entrepreneurs need a good SAT, GMAT etc Innovation, creativity, decision making Integrity, leadership, team building, networking

66. IQ /SAT /CAT what not MBA Harvard Alumni was studied for 25 years So called TOP in class were found successful & NOT successful in life So called BOTTOM were very very successful So called MIDDLE all cases

67. Closing

68. Read unrelated stuff ! Read Related stuff ! Online Idea contests Keep yourself challenged Draw your ideas; Think Visually Be Positive Physically active Laugh a Lot Watch Tom & Jerry Find and Be YOURSELF

69. Imagination is more important than knowledge. For while knowledge defines all we currently know and understand, imagination points to all we might yet discover and create - Albert Einstein

70. Its a life skill part of U Its exciting - creation Its satisfying - growth Innovation

71. PROBLEM SOLVING TRENDS FIX GAPS EXPERIMENT OBSERVE (analogy) HARD WORK PASSION READ-READ- READ MORE INTUITION FACE FAILURE LOG BOOK YOU & iQ DO THINK BEHAVE

72. The start How many of you see yourself as a Innovative entrepreneur ?

73. Thanks for your time & Giving me this opportunity