Inside the entreprenurial mind
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Inside the entreprenurial mind

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    Inside the entreprenurial mind Inside the entreprenurial mind Presentation Transcript

    • Inside theInside the Entrepreneurial MindEntrepreneurial Mind from ideas to realityfrom ideas to reality byby Muhammad Adeel JavaidMuhammad Adeel Javaid
    • Creativity, Innovation, andCreativity, Innovation, and EntrepreneurshipEntrepreneurship
    • CreativityCreativity The ability to develop new ideas and toThe ability to develop new ideas and to discover new ways of looking at problemsdiscover new ways of looking at problems and opportunities.and opportunities.
    • InnovationInnovation The ability to applyThe ability to apply creative solutions tocreative solutions to problems andproblems and opportunities toopportunities to enhance or to enrichenhance or to enrich people’s livespeople’s lives
    • Barriers to CreativityBarriers to Creativity  Searching for one right answerSearching for one right answer  Focusing on ‘being logical’Focusing on ‘being logical’  Blindly following the rulesBlindly following the rules  Consistently being practicalConsistently being practical  Viewing play as frivolousViewing play as frivolous  Becoming overly specializedBecoming overly specialized  Fearing looking foolishFearing looking foolish  Fearing mistakes and failureFearing mistakes and failure  Believing ‘I’m not creativeBelieving ‘I’m not creative’’
    • Enhancing OrganizationalEnhancing Organizational CreativityCreativity Include creativity as a core company valueInclude creativity as a core company value  Embrace diversityEmbrace diversity  Expect CreativityExpect Creativity  Expect and tolerate failureExpect and tolerate failure  Encourage curiosityEncourage curiosity  Create a change of scene periodicallyCreate a change of scene periodically  View problems as challengesView problems as challenges  Provide creativity trainingProvide creativity training  Provide supportProvide support  Develop a procedure for creating ideasDevelop a procedure for creating ideas  Talking with customersTalking with customers  Looking for uses for your products/services in otherLooking for uses for your products/services in other marketsmarkets  Rewarding creativityRewarding creativity  Modeling creative behaviorModeling creative behavior
    • Questions to Spur ImaginationQuestions to Spur Imagination  Is there a way to do it?Is there a way to do it?  Can you borrow or adapt it?Can you borrow or adapt it?  Can you give it a new twist?Can you give it a new twist?  Do you merely need more of the same?Do you merely need more of the same?  Less of the same?Less of the same?  Is there a substitute?Is there a substitute?  Can you rearrange the parts?Can you rearrange the parts?  What if you do just the opposite?What if you do just the opposite?  Can you combine ideas?Can you combine ideas?  Can you put it to other uses?Can you put it to other uses?  What else should we make from this?What else should we make from this?  Are there any other markets for it?Are there any other markets for it?  Can you reverse it?Can you reverse it?  Can you rearrange it?Can you rearrange it?  Can you put it to another use?Can you put it to another use?  What ideas seem impossible but if executed wouldWhat ideas seem impossible but if executed would revolutionize your business?revolutionize your business?
    • Ten ‘Secrets’ for Leading CreativityTen ‘Secrets’ for Leading Creativity  They think.They think.  They are visionaries.They are visionaries.  They listen to customers.They listen to customers.  They understand how to manage ideas.They understand how to manage ideas.  They are people-centered.They are people-centered.  They maintain a ‘culture of change’They maintain a ‘culture of change’  They maximize team synergy, balance, andThey maximize team synergy, balance, and focus.focus.  They hold themselves and others accountableThey hold themselves and others accountable for extremely high standards of performance.for extremely high standards of performance.  They refuse to take ‘no’ for an answer.They refuse to take ‘no’ for an answer.  They love what they do and have fun doing it.They love what they do and have fun doing it.
    • Enhancing Individual CreativityEnhancing Individual Creativity  Allow yourself to be creative.Allow yourself to be creative.  Observe the products and services of otherObserve the products and services of other companies, especially those in other markets.companies, especially those in other markets.  Recognize the creative power of mistakes.Recognize the creative power of mistakes.  Keep a journal handy to record your thoughtsKeep a journal handy to record your thoughts and ideas.and ideas.  Listen to other people.Listen to other people.  Listen to customers.Listen to customers.  Talk to a child.Talk to a child.  Keep a toy box in your office.Keep a toy box in your office.  Read books on stimulating creativity or take aRead books on stimulating creativity or take a class on creativity.class on creativity.  Take some time off.Take some time off.
    • Evaluating IdeasEvaluating Ideas for their Market Potentialfor their Market Potential  What benefits does the product or service offer customers? Is there a real need for it?What benefits does the product or service offer customers? Is there a real need for it?  Have you pinpointed the exact problems or difficulties your idea aims to solve? HaveHave you pinpointed the exact problems or difficulties your idea aims to solve? Have you considered the problems or difficulties it might create?you considered the problems or difficulties it might create?  On a scale of 1 to 10, how difficult will it be to execute the idea and sell itOn a scale of 1 to 10, how difficult will it be to execute the idea and sell it commercially?commercially?  Does the product or service have natural sales appeal? Can customers afford it? WillDoes the product or service have natural sales appeal? Can customers afford it? Will they buy it? Why?they buy it? Why?  What existing products or services would compete with your idea? Is your product orWhat existing products or services would compete with your idea? Is your product or service superior to them? How?service superior to them? How?  On a scale of 1 to 10, how easily can potential customers understand the benefits ofOn a scale of 1 to 10, how easily can potential customers understand the benefits of your new product or service? Are they obvious?your new product or service? Are they obvious?  On a scale of 1 to 10, how complex is the product or service? If it is a product, can youOn a scale of 1 to 10, how complex is the product or service? If it is a product, can you prototype it yourself?prototype it yourself?  On a scale of 1 to 10, how complex is the distribution or delivery system needed to getOn a scale of 1 to 10, how complex is the distribution or delivery system needed to get the product or service into the customers’ hands?the product or service into the customers’ hands?  How unique is your product or service? How easily can other companies imitate yourHow unique is your product or service? How easily can other companies imitate your idea?idea?  How much will it cost to produce or provide the product or service? To distribute it? ToHow much will it cost to produce or provide the product or service? To distribute it? To market it?market it?
    • The Creative ProcessThe Creative Process  PreparationPreparation  InvestigationInvestigation  TransformationTransformation  IncubationIncubation  IlluminationIllumination  VerificationVerification  ImplementationImplementation
    • Techniques for Improving theTechniques for Improving the Creative ProcessCreative Process  BrainstormingBrainstorming  Mind-MappingMind-Mapping  TRIZTRIZ  Rapid PrototypingRapid Prototyping
    • Intellectual Property: ProtectingIntellectual Property: Protecting Your IdeasYour Ideas  PatentsPatents  TrademarksTrademarks  CopyrightsCopyrights
    • The Patent ProcessThe Patent Process  Establish the invention’s novelty.Establish the invention’s novelty.  Document the device.Document the device.  Search existing patents.Search existing patents.  Study the search result.Study the search result.  Submit the patent application.Submit the patent application.  Prosecute the patent applicationProsecute the patent application..
    • Characteristics of Patents,Characteristics of Patents, Trademarks, and CopyrightsTrademarks, and Copyrights Copyright Works of original 2 weeks $30Copyright Works of original 2 weeks $30 authorship-books or softwareauthorship-books or software Trademark Logos, names, phrases 6 months $900 toTrademark Logos, names, phrases 6 months $900 to to 1 year $1,500to 1 year $1,500 Design The look of an up to 2 $5,000 toDesign The look of an up to 2 $5,000 to Patent original product years $20,000Patent original product years $20,000 Utility How an original 2-5 years sameUtility How an original 2-5 years same Patent product worksPatent product works Business A business process same sameBusiness A business process same same Method Patent or procedureMethod Patent or procedure