Why your
business will

Fail
by boardofinnovation.com - int. innovation consulting office
common pitfalls.

10
On a daily basis we work together with
innovation teams & startups.
Next Big Thing

stronger business models
better produc...
but most ideas pitched 

to us miss the mark.
Here are 10 examples:
Flickr: adam_jones
“An alert app for singles when they
match as they pass by on the street.”

Take a second, think about i...
What is the chance that 2 potential users have
the app installed and would find each other?
Lesson
Don’t focus on products...
1.
The-EverybodyWillLoveit-Guy

Pay With A Tweet
Before you continue:
All slides can be
downloaded as PDF
Flickr: thundershead
“Traffic jam solution via Car-to-Car
communication on highways. ”

Take a second, think about it.
Wha...
Do you really believe you could integrate your
technology in every single car, signage, roads,...?
Lesson
As a startup you...
Flickr: reallyboring
“Walls that change color depending 

on the mood of people.”

Take a second, think about it.
What do ...
How frequently do people ‘replace’ their walls?
Learning
Don’t focus too much on slow moving industries
(e.g. housing) whe...
Flickr: tuxthepenguin
“Small DVD renting machines for
retail stores.”

Take a second, think about it.
What do you see as t...
Will people start renting DVD’s again? - hell no -
Learning
You can’t stop change with your startup. Don’t fight it.
Sound...
Flickr: mightyhorse
“A fridge that automagically orders
food when your run out of milk.”

Take a second, think about it.
W...
It’s not because technology has a solution that
people have a problem to solve.
Learning
Check if your idea is based on a ...
Flickr: grumpy-puddin
“Device for patients to mix specific
drugs at home.”

Take a second, think about it.
What do you see...
What would it take to change regulation in
your favor?
Learning
If legislation needs to be updated to make your service
wo...
“Online platform for employees to
make their own time tables.”

Take a second, think about it.
What do you see as the most...
Will the employees pay themselves?
Learning

The one who puts money on the table (the employer) 

is not the one who uses ...
“iPhone case with built-in wireless
charger! No more cables!”

Flickr: tyfn
Take a second, think about it.
What do you see...
Will travelers stop carrying charging cables?
Learning
Make sure you didn’t move the problem instead of
solving it. If cha...
“Cart that automatically hands out
food in an airplane. ”

Take a second, think about it.
What do you see as the most impo...
Will you reduce the number of staff?
Learning
Always take a look at the whole process. Optimizing one part
(e.g. food) wil...
Flickr: ifrc
“Stronger emergency shelter for
disaster areas.”

Take a second, think about it.
What do you see as the most ...
How much budget does an NGO or government 

has available for you?
Learning

Purely from a business perspective you should...
Checklist: Did you miss the mark?
1. Do you offer value even with a limited amount of active users?
2. Do you expect that ...
We can train your team to come up
with stronger business ideas.

More on our Innovation Program & Bootcamps
www.BoardofInnovation.com/Training

< Change in mindset!
Practical Tools
<
Avoid your Kodak or Nokia moment…
hire our team
info@boardofinnovation.com
World wide in-house masterclasses

by boardofinnovation.com - int. innovation consulting office
coffee@boardofinnovation.c...
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Checklist: 10 common pitfalls why your business will fail. (by @nickdemey @boardofinno )

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What is wrong with your business idea? Here are 10 cases to learn from.

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  • Decent presentation but overall I agree with Vitomir. There ARE already fridges in Korea that order food when you are low. It works very well and is very popular. Also rent DVD's locally? Redbox does just that.
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  • Re: DVD Kiosks. Ever hear of Red Box? Don't think something is going to go away everywhere at the same time for everybody ... And business models can adapt with changing opportunities.
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  • I totally agree with Vitomir. We have to raise the bar as to what constitutes a 'good idea'. Saying 'Ideas are worthless, execution matters' misses the point. If ideas were instead thought more in terms of path direction, good execution would help refine them (or abandon them) as you move forward. We need more nuanced thinking about this topic. If ideas were better 'designed' to be actionable in the first place (e.g., as a testable hypothesis) then your execution would not only be more efficient but yield better insights for future iterations. To say that (all) ideas are 'worthless' does no one any service especially for innovator-entrepreneurs.
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  • Not impressed with this one. Very few ideas exampled here are attractive at all. I want to see how do you encourage and nurture good ones. It's easy to kill ideas, to recognize and develop promising is the real challenge. Maybe next Slide will deal with it? Best, Vitomir, DataStation
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Checklist: 10 common pitfalls why your business will fail. (by @nickdemey @boardofinno )

  1. 1. Why your business will
 Fail by boardofinnovation.com - int. innovation consulting office common pitfalls.
 10
  2. 2. On a daily basis we work together with innovation teams & startups. Next Big Thing
 stronger business models better products new profit ...
 Together we hunt down the

  3. 3. but most ideas pitched 
 to us miss the mark. Here are 10 examples:
  4. 4. Flickr: adam_jones “An alert app for singles when they match as they pass by on the street.”
 Take a second, think about it. What do you see as the most important pitfalls? 1.
  5. 5. What is the chance that 2 potential users have the app installed and would find each other? Lesson Don’t focus on products or matchmaking services that could only work if nearly everybody needs to be a client first. This is not just a Chicken & Egg problem. Offer value to your app even without a large user base. Similar: Poken.com, Real-time niche expert matching,... 1. The-EverybodyWillLoveit-Guy

  6. 6. 1. The-EverybodyWillLoveit-Guy
 Pay With A Tweet Before you continue: All slides can be downloaded as PDF
  7. 7. Flickr: thundershead “Traffic jam solution via Car-to-Car communication on highways. ”
 Take a second, think about it. What do you see as the most important pitfalls? 2.
  8. 8. Do you really believe you could integrate your technology in every single car, signage, roads,...? Lesson As a startup you just can’t turn a whole value chain upside down. Have a clear view on the operational hassle to roll out such a concept. You’ll realize that already the planning of the first meeting with a big player (BMW?) is a burden. 2. The-I’llChangeTheWorld-Guy

  9. 9. Flickr: reallyboring “Walls that change color depending 
 on the mood of people.”
 Take a second, think about it. What do you see as the most important pitfalls? 3.
  10. 10. How frequently do people ‘replace’ their walls? Learning Don’t focus too much on slow moving industries (e.g. housing) where the sale of products only happens every few year. Speed is crucial for your startup. If you target such an industry be sure to have a specific strategy to move quickly. (e.g. partnership for sales & marketing) 
 Similar: Roads that generate electricity,... 3. The-NeedsaRealityCheck-Guy

  11. 11. Flickr: tuxthepenguin “Small DVD renting machines for retail stores.”
 Take a second, think about it. What do you see as the most important pitfalls? 4.
  12. 12. Will people start renting DVD’s again? - hell no - Learning You can’t stop change with your startup. Don’t fight it. Sounds obvious but still many ‘ideas’ presented to us are just small improvements on products for markets where customers already moved in a different direction. Similar: Tweaked ads for television,... 4. The-BlindDenier-Guy

  13. 13. Flickr: mightyhorse “A fridge that automagically orders food when your run out of milk.”
 Take a second, think about it. What do you see as the most important pitfalls? 5.
  14. 14. It’s not because technology has a solution that people have a problem to solve. Learning Check if your idea is based on a geek’s wet dream or a real demand in the market. Smart fridges with build in computers (as an idea) exist already +50 years. There is a very good reason why our fridges aren’t robots yet. Similar: Hologram meet-ups,... 5. The-TechFetisjist-Guy

  15. 15. Flickr: grumpy-puddin “Device for patients to mix specific drugs at home.”
 Take a second, think about it. What do you see as the most important pitfalls? 6.
  16. 16. What would it take to change regulation in your favor? Learning If legislation needs to be updated to make your service work, you better kill your idea. Some rules are not ‘official laws’ but existing habits within cultures. These unwritten rules or norms within society are similar obstacles. 
 Similar: new road signs, child monitor,... 6. The-ImTheKing-Guy

  17. 17. “Online platform for employees to make their own time tables.”
 Take a second, think about it. What do you see as the most important pitfalls? 7.
  18. 18. Will the employees pay themselves? Learning
 The one who puts money on the table (the employer) 
 is not the one who uses the service. There might be a conflict of interest. (Why hand over control to employees?) Make sure that you understand the difference between ‘your clients’ and ‘your users’. You will need 2 different pitches, one for each group. 7. The-MoneyIsNoIssue-Guy

  19. 19. “iPhone case with built-in wireless charger! No more cables!”
 Flickr: tyfn Take a second, think about it. What do you see as the most important pitfalls? 8.
  20. 20. Will travelers stop carrying charging cables? Learning Make sure you didn’t move the problem instead of solving it. If charging pads are not available everywhere, people will still carry their cables with them. 
 = carry more stuff = worse. Replacing one problem with another is a mistake linked to gimmicks & gadgets. 8. The-100%MarketShare-Guy

  21. 21. “Cart that automatically hands out food in an airplane. ”
 Take a second, think about it. What do you see as the most important pitfalls? 9.
  22. 22. Will you reduce the number of staff? Learning Always take a look at the whole process. Optimizing one part (e.g. food) will not make one flight attendant obsolete. 
 = no costs being saved in the end. This is a common pitfall. Often people focus on irrelevant problems and miss out the real bottleneck in the process. 9. The-LivingInaSilo-Guy

  23. 23. Flickr: ifrc “Stronger emergency shelter for disaster areas.”
 Take a second, think about it. What do you see as the most important pitfalls? 10.
  24. 24. How much budget does an NGO or government 
 has available for you? Learning
 Purely from a business perspective you should not target clients with limited budgets. In the same domain: services that target young start-ups, students,... Although they might spend money in the end, there are often easier clients to persuade. 10. The-Idealist-Guy

  25. 25. Checklist: Did you miss the mark? 1. Do you offer value even with a limited amount of active users? 2. Do you expect that a whole value chain needs to change? 3. Do you have any idea on how fast ideas are rolled out 
 in your market? 4. Are you trying to stop a change in behavior with your customer? 5. Are you driven by your love for technology? 6. Do you rely on a change in regulation? 7. Do you have a clear understanding on who will pay you and who will use your product? 8. Do you solve a problem or just replace one by another? 9. Aren’t you focusing on one part of a bigger problem? 10. Are you targeting a client with limited budget? 

  26. 26. We can train your team to come up with stronger business ideas.

  27. 27. More on our Innovation Program & Bootcamps www.BoardofInnovation.com/Training
 < Change in mindset! Practical Tools <
  28. 28. Avoid your Kodak or Nokia moment… hire our team info@boardofinnovation.com
  29. 29. World wide in-house masterclasses
 by boardofinnovation.com - int. innovation consulting office coffee@boardofinnovation.com
 @nickdemey - @philderidder
 “The workshop really brings together fun, content and learning by doing.” - Kutlu Istanbul Innovates
 “The two-day workshop is really inspiring and informative.” - Sao Hosoya, Qunie Corporation Japan
 “BOI delivered an engaging & insight-packed workshop on Business Innovation” - M. Benson PDMA, USA

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