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Idea Creation Model


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Techniques to developing your next startup idea.

Techniques to developing your next startup idea.

Published in: Business, Economy & Finance
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  • Transcript

    • 1. Find Your Startup Idea: The Idea Creation Model Sean O’Malley Entrepreneur
    • 2. Youʼre looking for your big idea
    • 3. An idea that will grow
    • 4. But youʼre still looking for the ʻrightʼ idea
    • 5. Youʼre still looking because you havenʼt found your idea sweet spot
    • 6. The Idea Sweet Spot Solve a big problem provide a unique offering Large Market & MegaTrend Where do you Focus on Blue Ocean want to play? Opportunity Your World’s Passion Best B
    • 7. But how do you find your idea sweet spot?
    • 8. Because ideation is inherently messy and non-linear
    • 9. One method is the idea creation model Place yourself here to: unleash ideas vet the best ideas choose the ‘one’
    • 10. The Idea Creation Model 1. Go broad 2. Go deep 3. Customer discovery Where are the Where are the Who are the real B opportunities? problems? customers? Does it fit your Idea Sweet Spot (if no)?
    • 11. 1. Go broad and align with a Megatrend
    • 12. Going broad means uncovering the biggest Megatrends where you have interest
    • 13. But what is a Megatrend?
    • 14. SMS location-based services Baby boomers aging Mobile e-commerce real-time web Megatrends are demographic, behavioral or technology tsunamiʼs Global warming Global workforce Bite size media The death of traditional media Health care coverage Credit crisis
    • 15. And how do I uncover the Megatrends?
    • 16. Talk to industry pundits Talk to innovative companies Talk to venture capitalists Read everything that seems relevant
    • 17. 2. Go deep to uncover the meaningful problems
    • 18. Going deep means looking at all the meaningful problems created by the Megatrend and developing a concept solution
    • 19. But what are meaningful problems?
    • 20. Baby boomers keeping in touch Driver’s can’t find what they need Teenagers use SMS as a primary form of communications Mobile consumers want to compare goods Teenagers need tools to pay for goods Meaningful problems are large, blue ocean opportunities that can inspire Managing electricity Coordinating a global workforce consumption No time to consume media No credit Costly health care coverage
    • 21. And how do I uncover meaningful problems?
    • 22. Talk to influential customers Talk to industry pundits Talk to venture capitalists Read everything that seems relevant
    • 23. 3. Validate with influential customers
    • 24. Validating with customers means getting in front of potential customers to hear their problems, wants, needs and desires
    • 25. Reach the Mac user....not the PC user
    • 26. And how do I find these customers?
    • 27. Surveys Google Ad Words Concept product
    • 28. How do I choose the one?
    • 29. The Idea Selection Map High Passion Idea 1 Idea 3 Large Blue Ocean Idea 4 Idea 2 Size of addressable market
    • 30. Other Idea Selection Factors Factor Idea 1 Idea 2 High customer ++++ ++ lifetime value Unique ++++ ++ distribution model Capital efficiency ++++ ++++ Margins ++++ +
    • 31. If you remember anything... Most successful ideas are about making lives better
    • 32. Sean OʼMalley Entrepreneur
    • 33. Image Credits By Mariajc By Imagonovus on Flickr on Flickr By davipt By Froot Smoothie on Flickr on Flickr By jovisalsa47 By dgray xplane on Flickr on Flickr By Dalla* By Reini68 on Flickr on Flickr By Lensbs By Snelvis on Flickr on Flickr