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Business Idea Brainstorming and Evaluation Techniques
 

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