Business Idea Brainstorming and Evaluation Techniques
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Business Idea Brainstorming and Evaluation Techniques

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Techniques for brainstorming marketable new business ideas and then reviewing them with realistic criteria.

Techniques for brainstorming marketable new business ideas and then reviewing them with realistic criteria.

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Business Idea Brainstorming and Evaluation Techniques Business Idea Brainstorming and Evaluation Techniques Presentation Transcript

  • Mark Tayar
    Sept, 15, 2010
    HireMarks.com
    1
  • Today’s Objectives
    Learn and use six brainstorming techniques
    Critically review business ideas
    Cast some business ideas into the world
    2
  • My Fishing Lines
    6 web “businesses”
    Canberra Tutor
    eLearning Design
    Business Catalyst
    iSplit.com.au
    Entrepreneur Events
    Business Idea Brainstorm
    3
  • Brainstorming should have structure:
    Withhold judgement (for now)
    Failure is not a concern
    There are no bad ideas
    There are no resource constraints
    Don’t worry if it’s been done before
    Carte Blanche Brainstorming
    4
  • Pick an everyday object
    Create a business using that object by:
    Selling the object in a unique way
    Finding a new use for the object
    Using the object as part of a new invention
    Object-Focused Brainstorming
    5
  • Pick a problem you or your friends face
    Create a business that solves this problem by:
    Defining the problem and its causes
    Addressing the problem with an idea
    Explaining how it will make $$$ (revenue model)
    Problem-Focused Brainstorming
    6
  • Pick a question that you or the world needs to answer
    Methodically search for answers by:
    Taking a long walk
    Sleeping on it
    Mind-mapping
    Question-Focused Brainstorming
    7
  • Choose an industry you’re interested in
    Identify top competitors
    Map out how they perform on different aspects
    Niche-Focused Brainstorming
    8
  • If all else fails: Plagiarise!
    Look at success in other markets
    Look at failures in this market
    Copy things not protected by IP rights
    9
  • Plagiarise!
    Copy what works
    Improve what doesn’t work
    If IP rights are an issue, can you acquire or license the IP?
    10
  • Mark’s Pessimistic P’s
    11
  • Pessimistic P: Problem
    12
    What Problem Does Your Idea Solve?
  • Pessimistic P: Pain
    13
    How Painful is that Problem?
  • Pessimistic P: Passion
    14
    How Passionate are you about this Problem?
  • Pessimistic P: Punch Line
    15
    Does Your Idea have a Clear and MarketablePunch Line?
  • Pessimistic P: Profit
    16
    Can Your Idea Make Money?
  • What important problem can you solve?
    How valuable is your venture to the customer?
    How painful is the problem for the customer? (you need to change somebody’s behaviour to buy your product or to use your service)
    How many customers are there who are willing to buy from you?
    How many customers are there? (Market size)
    How many will buy from you? (Market share)
    Who will be your first customer (besides your Mum)?
    Who will be your 100th?
    Can your potential margins cover your expenses?
    Why can only you provide the solution?
    How are you unique?
    What do you provide that nobody else can?
    How can you defend against others?
    17
    Criteria for Profit
  • 18
    Don’t Let the Pessimism Harm Your Optimism
  • Cast your fishing lines
    Get some energy and momentum behind ideas
    Work with people who have your weaknesses as their strengths
    Promote the idea even in the early stages
    Protect the idea but NDAs and Provisional Patents are pretty rubbish
    From Ideas to Action to Results
    19
  • Thanks!See you at: BusinessIdeaBrainstorm.comSlides at:http://HireMarks.WordPress.com