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IT TAKES 3,000 RAW
IDEAS = 1
COMMERCIAL
SUCCESS
HOW TO FIND SUCCESS

Lynn Sutherland
November 2013
FORMULA 1
3000 Raw Ideas

Stage 1

-> 300 Ideas where some action is taken
-> 125 Small Projects

Stage 2
Stage 3

-> 9 Si...
FORMULA 2

Success requires
(Leader + Market + Team + Finance + Product or Service)

×
(Timing + Execution)
MY RESULTS
• Many successful projects
• Moved from Stage 2 to 3 or from Stage 3 to 4
• Felt successful as they move ideas ...
SO
• Generate lots of ideas
• Use good filters
• Look for the right conditions
• Build the right team
• Work smart and har...
3,000 raw ideas = 1 commercial  ls nov2013
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3,000 raw ideas = 1 commercial ls nov2013

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Short presentation given at Cybera Summit November 2013

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3,000 raw ideas = 1 commercial ls nov2013

  1. 1. IT TAKES 3,000 RAW IDEAS = 1 COMMERCIAL SUCCESS HOW TO FIND SUCCESS Lynn Sutherland November 2013
  2. 2. FORMULA 1 3000 Raw Ideas Stage 1 -> 300 Ideas where some action is taken -> 125 Small Projects Stage 2 Stage 3 -> 9 Significant Developments Stage 4 -> 4 Major Developments Stage 5 -> 1.7 Launches -> 1 Success Stage 6 Stage 7 0.03% success rate from initial concept, based on evidence from many sectors From: 3,000 Raw Ideas = 1 Commercial Success! Greg A. Stevens and James Burley; Industrial Research Institute Inc. 1997.
  3. 3. FORMULA 2 Success requires (Leader + Market + Team + Finance + Product or Service) × (Timing + Execution)
  4. 4. MY RESULTS • Many successful projects • Moved from Stage 2 to 3 or from Stage 3 to 4 • Felt successful as they move ideas further along • But did not lead to big commercial wins • Two failed startups • Both went from Stage 1 through to Stage 7 • 1 had a limited market, 1 was not able to attract growth financing • Painful hard lessons because you give your life over to these for a few years • Part of a couple of big successes • Product commercialization success (major growth in sales) leading to company acquisition • International recognition
  5. 5. SO • Generate lots of ideas • Use good filters • Look for the right conditions • Build the right team • Work smart and hard • Move things along to next stage, evaluate • Keep trying • Fail fast if you’re not sure • Keep going and re-adjust if you are sure and have the stamina • It may take (much) longer than you think • Create your own luck by putting yourself in the right place at the right time

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