Ideation and the business canvas session 3
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Ideation and the business canvas session 3

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This is the third session in my course titled Entrepreneurship Management. In the first two sessions, I introduced the students to the idea of entrepreneurship as being that of identifying......

This is the third session in my course titled Entrepreneurship Management. In the first two sessions, I introduced the students to the idea of entrepreneurship as being that of identifying opportunities and creating value - not just in start ups. I talked of Entrepreneurial Leadership and presented some facets of the support ecosystem that exists in India. Here in session three I take the discussion one step forward by talking about ideation per se and converting it into an actionable plan using a tool called the Business Canvas.

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  • Some would say that the lab that was set up in New Jersey for Thomas Edison provided the environment and tools that allowed him to think through many of the problems and propose solutions. These were “enablers”.

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  • 1. Anilesh Seth Ideator, Co Founder & CEO, KROW www.krow.in Strategic Advisor to the Qatalys Group of Companies Mentor at the KYRON incubator Visiting Faculty at CMR IT Exec MBA program Ex-CEO/MD: LGSI, Qatalys & Supervalu India www.slideshare.net/anilesh http://In.linkedin.com/in/anileshseth anileshseth@hotmail.com
  • 2. Session objectives 1. To imbibe the structured ideation process 2. To understand the business canvas as a tool that can enable the development of an effective business plan to implement your idea
  • 3. Ideation Needs First? Ideas First?OR “Anything that won’t sell, I don’t want to invent. Its sale is proof of utility, and utility is success.” -Attributed to Thomas Edison
  • 4. Thomas Edison Inventions Industry Year Edison electric pen and press Document duplication 1873 Carbon button microphone (telephone transmitter) Telecom 1876 First phonograph and record Recorded sound 1877 Incandescent electric light and system of electric power Electrical power 1879 Motion picture camera and moving pictures The movies 1893 Alkaline storage battery Portable power 1905 The 6 industries pioneered by Edison generated a market value of 6.7 Billion USD by 1910 – in today’s dollars that would be over 100 billion dollars! Source: Strategyn Edison and ODI white paper
  • 5. How to generate ideas?
  • 6. Brainstorming • Brainstorming is a technique usually in a group, to rapidly generate a large list of ideas to solve a problem or to identify new products/solutions etc • The goal of brainstorming is to generate IDEAS • It is a good idea to apply a “process” or “method” to this This begs the question: Can you put a structure to creativity?
  • 7. A word about structured creativity.. • Edward de Bono avers that there is a mistaken belief that creativity should be totally free and unfettered – that restrictions will limit and stifle the creation process • His example is: “I would like you to write a book about aliens” Vs “I would like you to write a book about aliens who all behave like monkeys” The second statement has more focus and therefore helps channel your creative energies http://www.extensor.co.uk/articles/structured_creativity/structured_creativity.html Edward de Bono is a leading author in the field of creative thinking and the teaching of thinking as a skill
  • 8. An exercise in structured creativity Need expressed by a toy manufacturer Create a unique “being” that can be converted into: - An action figure - Cartoons - An animation movie - Games - Can be put on T-shirts, Mugs, Plates - etc
  • 9. “Quality circles” is a structured technique aimed at finding solutions • Quality circles originated in Japan in the 60s • Ishikawa has been credited with their creation and the development of the Ishikawa or Fishbone chart • It is generally a volunteer group of cross- functional workers who come together to solve a problem. Some are management initiated and some are worker initiated • Roots lie in manufacturing but this has extended to other industries and needs as well
  • 10. Back to brainstorming….. Goal: Generate ideas! Round-robin Floodgates approach Silent - Have a facilitator - Write the problem on a flipchart - Write all ideas: no editing - Assign a no to each idea - Postpone judgement; no criticism - Push through 2 or 3 lulls - Have a diverse group - Encourage crazy ideas! - Everyone gets a chance - But may lack spontaneity - Build off each others’ ideas - Some may not get a chance - Ensures no disruptive pre-analysis - Don’t build off each other Combine items that are similar – group them Eliminate items that don’t make sense (don’t meet the stated objective) Reduce your list to the most important items Discuss each item - turn by turn. Seek clarity from the person who gave the idea Give each person a final chance to add items
  • 11. An exercise in brainstorming Problem statement A: What should AAM ADMI PARTY do to win the next elections? Problem statement B: How should India tackle the concern around safety for women?
  • 12. From ideation to execution: The Business Canvas http://www.youtube.com/watch?feature=player_embedded&v=QoAOzMTLP5s http://www.youtube.com/watch?v=jMxHApgcmoU (Alex Osterwalder)
  • 13. Thank you! Credit: http://simonmainwaring.com/creativity/surviving-social-media-with-your-creativity-intact/