Techniques to developing your next startup idea.

1. Find Your Startup Idea:
The Idea Creation Model
Sean O’Malley
Entrepreneur
http://seancomalley.com

2. Youʼre looking for your big idea

3. An idea that will grow big...fast

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
somalley@venrock.com
http://seancomalley.com

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