turn more ideas into opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 category leadership...

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Helping Tech Entrepreneurs Turn Ideas into Opportunities SBDC Conference 2019 – Long Beach, CA Wendy Kennedy President - WKI wendykennedy.com inc. Turn More Ideas into Opportunities Sowhat? who cares? why you?' A Methodology to Find the Business Value of New Ideas ByWendy Kennedy with Pet • r Eddison

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Page 1: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Helping Tech Entrepreneurs Turn Ideas into Opportunities

SBDC Conference2019 – Long Beach, CA

Wendy KennedyPresident - WKI

wendykennedy.com inc.

Turn More Ideas into Opportunities

Sowhat? who cares?

why you?' A Methodology to Find the Business Value of New Ideas

By Wendy Kennedy with Pet • r Eddison

Page 2: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Who is WKI?

• Since 2005….• Science & technology• Frameworks to ideate

and find the business value of ideas

• Develop clarity and confidence to move ideas forward

wendykennedy.com inc.

The Value of a Category Map ________________ ._____ --~.,.,,_,,., ..... _ _...,. __

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Turn More Ideas into Opportunities

Page 3: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Hyperion Portable Computer ….1982

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Page 4: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

PointShot Wireless

Page 5: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

QNX Software – Embedded OS

Automotive Consumer Medic.al lndustri 1al

Netwo~ - -

GM ,_

• Turn More Ideas into Opportunities

wendykennedy .com inc.

Page 6: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Reading Skills Improvement Software

Page 7: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

What Problem Does WKI Solve?

wendykennedy.com inc.

Turn More Ideas into Opportunities

Page 8: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Hello….So what do you do?

wendykennedy.com inc.

Page 9: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

The Polite Nod…

wendykennedy.com inc.

Page 10: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Entrepreneurial Ideation

Ideation

AccelerationBusiness Model

At the early stage:

• Ideate to find the business value of ideas• Awareness of the vocabulary of business

Researchers

Engineers

Scientists

0

• WKI wendykennedy .com inc.

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Page 11: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Ideas that are “on the napkin”….

• Science & Technology

• Engineers, Scientists,, Physicians, Faculty, Cardiologists, …

• New techniques, approaches and concepts

• Business value is “fuzzy”•

Turn More Ideas into Opportunities wendykennedy.com inc.

Page 12: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

WKI Entrepreneurial Ideation….

so WHAT?

~ . Wliat's ~ouri lclea~

2. Wliat's tlie P.rotilem?

3. Wllere Does rouri lclea F.it?

4. Who's Your Customer?

5. What's Your Path to Market?

6. Where's the Money?

WHY YOU?

r/;. Wliat's ~our. Com~etitive Eclge?

8. Can ~ou Execute?

9. Wliat•s ~ouri ~alue P.ro~osition?

Page 13: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

StructuredIdeation

who

care

s?

Differentiation & Opportunity Identify Customers Provide Use Case(s)

The Category Map ToolThe Competitive Radar Tool The Market Fishbone Tool The Segment Strawman Tool

why

you

?Map the Path To Market Show the Market Entry Plan Present the Financial Model

The Channels to Market ToolThe Ecosystem Ladder Tool The Go to Market Plan Tool The Financial Forecast Tool

LAYER

S

PLAYERS

Lead Customers(early adopters)

#1

#2

#3

Category Leadership

TargetSegments

Top Five Customer Targets:

1. _________________________

2. _________________________

3. _________________________

4. _________________________

5. _________________________

Major Initiatives:

• ______________________________

• _____________________________

• _____________________________

Measure of Success:• _____________________________

• _____________________________

Timing:• _____________________________

Risks:• _____________________________

• _____________________________

Major Initiatives:

• ______________________________

• _____________________________

• _____________________________

Measure of Success:• _____________________________

• _____________________________

Timing:• _____________________________

Risks:• _____________________________

• _____________________________

Major Initiatives:

• ______________________________

• _____________________________

• _____________________________

Measure of Success:• _____________________________

• _____________________________

Timing:• _____________________________

Risks:• _____________________________

• _____________________________

Design A Winning Pitch

so w

hat?

Intro Vision & Team Define the Problem Showcase Your Solution

The Vision Tool The Business Problem Tool The Napkin Drawing Tool

® Registered Trademark of wendykennedy.com inc.

Phone: +1-613-851-6621North America Toll Free: +1-866-663-0171

wendykennedy.com

now

wha

t?

Make “The Ask”

What Are You Asking For?

What Will You Do With It?

Why Are You A GreatInvestment?

List the Proof Points.

Present the Highlights Restate Your Vision

? ? ?

wendykennedy.com inc.

Sowhat? who cares?

whyyou?·

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Page 14: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Overview 2012

Visual Design Thinking Tools Structure the Conversations…

Create a ep Profile your target customer using the 'Definers' and

'Descriptors'.

Step Describe how they will use your idea using 'Context'

and 'Compatibility'.

/ NAME YOUR.

/ 1-1,~~

Page 15: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

A Common Language for Conversations

--- ---~

Page 16: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Engage

TECH Fort Worth – Think Lab

' > IX

ora, a category map for the ma et space into ,vhich your idea fits.

Page 17: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Founders Help Founders

Page 18: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Some of our customers…

UF Sid Martin Biotechnology Institute UNIVERSITY of FLORIDA

CS a Zone · ~

eal

LC Federal L.aborator~ Con.$Oftium

for T chnology Transfer

UT Health an An oni Penn State

NEC EC LABORATORIES AMERICA, I C. --- EPlcenter

Rel ntless passion for innovation

- E•wrc_;y I P,ir•r•p•sh ns I I"• ov<1t1on

0 UNIVERSITY OF NEBRASKA pare® A Xerox Company

Turn More Ideas ·nto Oppo tunities

Page 19: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

EPIcenter – Energy Entrepreneurs

Page 20: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

The Hub at UF

I

• WKI Turn More Ideas into Opportunities wendykennedy.com inc.

Page 21: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

UF Collaboratory – EWITS Program

l ewits EMPOWERING WOMEN "' TECHSOlOGY STAIITUl'S

Page 22: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

LaunchPad @ Community Health Network

Page 23: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

The Heart of Dayton’s Innovation District

THE Entrepreneurs CENTER

Page 24: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

ExperiencesWhat Are We Learning?

wendykennedy.com inc.

Turn More Ideas into Opportunities

Page 25: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

IT'S ABOUT­CONVERSATIONS

Active, dynamic conversations about business value - not training classes. Promote discussion and debate - push to explore the possibilities.

Page 26: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

....

DRIVEN BY QUESTIONS, NOT BY ANSWERS

Ask probing questions to spark different ways of thinking. This sets the stage for "A-Ha" breakthroughs and coachable moments.

Page 27: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

INSPIRED BY SO WHAT? WHO CARES? WHYYOU?® TOOLS Visual tools provide the common language for both coaches and founders to be sounding boards and advisors .

• WKI wendykennedy .com inc.

Turn More Ideas into Opportunities

Page 28: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

E>RAW, ~ BRAINSTORM

&DEBATE :Y-HE BUSINESS VALUE This is the time to explore and experiment the best path to commercial success. Sketch, model and map ideas using the visual tools .

• WKI wendykennedy .com inc.

Turn More Ideas into Opportunities

Page 29: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

FOUNDERS DRIVE, COACHES NAVIGATE

Focus on coaching, not consulting. Guide founders to look at their ideas through the So what? who cares? why you? methodology.

Page 30: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Successes

• Funding for early stage startups• PoC, SBIR, Seed, Pitches, ….

• Deal flow to tech incubators• Save your staff time and

frustration• Prioritize your pipeline – who’s

ready now? Next? Who’s coachable?

• Common vocabulary accelerates decision making

• Inventors self-discover their “baby is ugly”…

• Turn More Ideas into Opportunities

wendykennedy.com inc.

Page 31: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Challenges

• Founderitis!• It’s ground breaking technology• I can’t talk about it in public• Everyone (I talk to) wants it• “I don’t need any help”• I just need a web site…• You say tomaytoe, I say tomahto…• The Polite Nod J• Yours??

• Turn More Ideas into Opportunities

wendykennedy.com inc.

Page 32: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Tips – Entrepreneurial Ideation

1. It’s About Conversations2. Founders Drive, Advisors Navigate3. This is Coaching, Not Consulting.4. Live in the Problem Space for a While5. Hands on and High Touch 6. Ideate – Investigate – Iterate7. Lots of Pitching & Catching8. Ideation is about Clarity & Confidence

• WKI Turn More Ideas into Opportunities wendykennedy.com inc.

Page 33: Turn More Ideas into Opportunities · 2019. 9. 9. · (early adopters) #1 #2 #3 Category Leadership Target Segments Top Five Customer Targets: ... Design A Winning Pitch so what?

Thanks for Coming!

Join us in Delaware September 25-26th

for WKI Certified Coach Training

Details: [email protected]

wendykennedy.com inc.

Turn More Ideas into Opportunities