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FROM OPPORTUNITY
TO STORY
IKHLAQ SIDHU
Founding Director and Founder
Sutardja Center for Entrepreneurship & Technology
IEO...
So, where do good ideas come from?
Skills and
Background
of Team
So, where do good ideas come from?
Observing
Change in the
Environment
Idea
(Starting)
A: You are a typical the
customer.
Its something you really care about
“There must be a better way”
B: You are working and...
Berkeley Method
#2: Pick a Target: Someone to Disrupt
Marc Benioff,
Founder Salesforce
Target:
Siebel Systems
CRM x SaaS
“...
Berkeley Method
# 3: Look for Change
Be aware of news stories that might
affect areas of your expertise.
New technical tre...
Every New Venture (and new
project) builds on a story derived
from watching the environment
External world
is changing
Bac...
Two Types of Stories
Investor / Management Story Customer Story
1. The problem you are solving
2. The solution you propose...
This is called a high concept pitch.
It works for company also.
• Trick: no one else is doing it already
• Fits on a busin...
This is called a high concept pitch.
Amazon ? Company + Geography
Big
Data ? Trend + Geography
In China
In China
How it really works:
Ideation Journey
A path to join a larger
industry conversation
Momentum
• New knowledge and
people
• ...
Observe
Environment
Skills and
Background
of Team
Stories
at work
Story/Pitch
Prototype
Validation
Company story keeps
ada...
END OF SECTION
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BMoE1: Berkeley Method Opportunity Identification

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Berkeley Method of Entrepreneurship, Topic 1, Opportunity Identification. Getting and filtering ideas.

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BMoE1: Berkeley Method Opportunity Identification

  1. 1. FROM OPPORTUNITY TO STORY IKHLAQ SIDHU Founding Director and Founder Sutardja Center for Entrepreneurship & Technology IEOR Emerging Area Professor Department of Industrial Engineering & Operations Research, UC Berkeley
  2. 2. So, where do good ideas come from?
  3. 3. Skills and Background of Team So, where do good ideas come from? Observing Change in the Environment Idea (Starting)
  4. 4. A: You are a typical the customer. Its something you really care about “There must be a better way” B: You are working and you have a problem. You require a better tool, which you cannot find You decide to create that tool yourself Berkeley Method #1 Your own frustration. Your own story. Most people simply don’t spend enough time learning about the competing alternatives
  5. 5. Berkeley Method #2: Pick a Target: Someone to Disrupt Marc Benioff, Founder Salesforce Target: Siebel Systems CRM x SaaS “I hate Banks”
  6. 6. Berkeley Method # 3: Look for Change Be aware of news stories that might affect areas of your expertise. New technical trends and capabilities New regulations, taxes, laws Customer behaviors
  7. 7. Every New Venture (and new project) builds on a story derived from watching the environment External world is changing Background of team Stories at work Story/Pitch Prototype Validation Mindshare → Traction Story → Awareness→ Brand Operative insight: background + change Collecting Stakeholders A company story keeps adapting and building Story is important for 2 reasons: 1. Alignment and feedback 2. Scale and stakeholders
  8. 8. Two Types of Stories Investor / Management Story Customer Story 1. The problem you are solving 2. The solution you propose 3. The value proposition for your users and customers 4. The market size and opportunity 5. A description of actual product - how it works and what it looks like 6. The sales, distribution, and revenue model 7. What’s unique about the technology - often referred to as the unique selling proposition 8. The competitive landscape 9. The team 10. The financial projections, your funding needs and financing strategy 11. Your timeline 12. Your “ask”. the “ask” is an industry term for what are you asking your audience to do? • TV or print commercial • Product announcement • Customer case study: problem, solution, result
  9. 9. This is called a high concept pitch. It works for company also. • Trick: no one else is doing it already • Fits on a business card. Gets a conversation started. Internet Trend USA Today or other Newspaper Yahoo Company + Trend
  10. 10. This is called a high concept pitch. Amazon ? Company + Geography Big Data ? Trend + Geography In China In China
  11. 11. How it really works: Ideation Journey A path to join a larger industry conversation Momentum • New knowledge and people • Mistakes, learning a new possibilities at each step External world is changing Background of team Adjacent Possibility
  12. 12. Observe Environment Skills and Background of Team Stories at work Story/Pitch Prototype Validation Company story keeps adapting and building
  13. 13. END OF SECTION

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