Idea generation (1)

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Idea generation (1)

  1. 1. Idea Generation <ul><li>Other people see things and say ‘Why?’ …. But I dream things that never were and say ‘Why not?’ </li></ul><ul><li>George Bernard Shaw </li></ul>
  2. 2. Attributes of the Creative Person <ul><li>Openness to experience </li></ul><ul><li>Observance – seeing things differently </li></ul><ul><li>Curiosity </li></ul><ul><li>Personal freedom </li></ul><ul><li>Willingness to take calculated risks </li></ul><ul><li>Self reliance </li></ul><ul><li>Persistence </li></ul><ul><li>Freedom from fear of failure </li></ul><ul><li>Desire for recognition </li></ul>
  3. 3. Managing Creativity- Inhibition <ul><li>Bureaucracy </li></ul><ul><li>Tradition and culture </li></ul><ul><li>Poor communication </li></ul><ul><li>Penalties for failure </li></ul><ul><li>Tight deadlines </li></ul><ul><li>Authority over responsibility </li></ul><ul><li>Values which inhibit </li></ul>
  4. 4. Managing Creativity- Fostering <ul><li>Open organisational structure </li></ul><ul><li>Freedom to fail </li></ul><ul><li>Culture of new ideas </li></ul><ul><li>Delegate responsibility </li></ul><ul><li>Circulate success stories </li></ul><ul><li>Empowerment </li></ul>
  5. 5. Creative Organisation <ul><li>Sharing a vision </li></ul><ul><li>Interpersonal support </li></ul><ul><li>Praising achievement </li></ul><ul><li>Coaching </li></ul><ul><li>Conflict resolution </li></ul><ul><li>Accepting failure </li></ul>
  6. 6. Sources of Ideas………. <ul><li>Existing Businesses </li></ul><ul><li>Franchises </li></ul><ul><li>Product Licensing </li></ul><ul><li>Patents </li></ul><ul><li>Networking </li></ul><ul><li>Support Agencies </li></ul><ul><li>WWW……….. </li></ul>
  7. 7. Techniques for generating ideas <ul><li>Guidelines for idea generating sessions </li></ul><ul><ul><li>Select participants </li></ul></ul><ul><ul><li>Have a facilitator </li></ul></ul><ul><ul><li>Task Focus </li></ul></ul><ul><ul><li>Time Management </li></ul></ul>
  8. 8. Techniques for generating ideas <ul><li>Brainstorming </li></ul><ul><li>Attribute Listing </li></ul><ul><li>Who, what, where, when, why, how </li></ul><ul><li>Assumption Smashing </li></ul><ul><li>Discontinuity </li></ul>
  9. 9. Screening ideas for opportunities <ul><li>The ‘Gut Feeling’ is not good enough! </li></ul><ul><li>Need for Solid Market Research </li></ul><ul><ul><li>Size of market </li></ul></ul><ul><ul><li>Competitor Analysis </li></ul></ul><ul><ul><li>Market Conditions and trends </li></ul></ul><ul><ul><li>Profit Margins </li></ul></ul><ul><ul><li>Revenue Opportunities </li></ul></ul>
  10. 10. Assessing a Good Idea – Questions to ask (O’Kane) <ul><li>Why is it a good idea? </li></ul><ul><li>What are the assumptions? </li></ul><ul><li>What type of customer will buy it? </li></ul><ul><li>Why? </li></ul><ul><li>List four ideas why the idea will NOT work </li></ul><ul><li>List four ideas why it will work. </li></ul><ul><li>What are the differences? </li></ul>
  11. 11. Key Issues <ul><li>Timing </li></ul><ul><li>Feasibility of the idea </li></ul><ul><li>Suitability of the idea to the circumstances of the potential entrepreneur </li></ul>
  12. 12. Transforming Ideas into Realisable Opportunities <ul><li>Action-oriented </li></ul><ul><li>Focus and pace </li></ul><ul><li>Easy to understand </li></ul><ul><li>Networking with the industry </li></ul><ul><li>Try, test and revise </li></ul><ul><li>Harnessing competencies and capability </li></ul>
  13. 13. Useful Websites <ul><li>Entrepreneurs.about.com/cs/ideas </li></ul><ul><li>Entrepreneurs.about.com/library/weekly/199/aa092799.htm </li></ul><ul><li>www.bizplus.ie </li></ul><ul><li>www,businesscreativitynetwork.org.uk/tools.htm </li></ul><ul><li>www.circle-of-excellence.com </li></ul><ul><li>www.cocd.be/eng/index.htm </li></ul><ul><li>www.entrepreneur.com </li></ul><ul><li>www.irc.net.lu </li></ul><ul><li>www.niftybusinessideas.com </li></ul><ul><li>www.planware.org </li></ul><ul><li>www.powerhomebiz.com </li></ul><ul><li>www.work-at-home-index.net/limks/telecommuniting.html </li></ul>
  14. 14. Useful Websites <ul><li>http:// ireland.franchiseopportunities.com / </li></ul><ul><li>http:// www.irishfranchiseassociation.com / </li></ul><ul><li>http://www.irishfranchisemagazine.net/?ck=1&s=4ecbefb5514aa1997c7a043483400f58 </li></ul><ul><li>www.ideacafe.com </li></ul>

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