How to generate ideas? Entrepreneurs, by definition, shift resources from areas of low productivity and yield to areas of higher productivity and yield. The unexpected failure demands that you go out, look around, and listen. Failure should always be considered a symptom of an innovative opportunity and taken seriously as such. The reverse is also true, unexpected success also demands attention Generic strategies: Innovator Modifier Copycat Personal innovation: Accidents - unexpected traction - 3M Build-product-for-yourself - solve your problem Pictura API (Jobindex portal) Crazy-enough-it-might-work: (Poul Graham) Example twitch - justin.tv - life stream - pivoted -> platform for lifestreaming -> pivoted to twitch, platform for lifestreaming Strategic innovation ideas (Porter Generic Strategies): Low-cost: Mailer lite vs Mail Chimp Differentiation: Mailer Lite traction from small community Technological Innovation: High-end - Creative Imitation (Peter Drucker): Apple strategy - take what is working and make it right with the best tech Tesla strategy (Toyota Prius 1997 - Tesla 2003) Low-end - Entrepreneurial Judo (Peter Drucker) (Disruption Theory - Clay Christensen): Panasonic - (Transistor radio) Mini-mill (Clay Christensen - disruption theory) Business model innovation: Changing the economic characteristics of a product: Revolut Symantec (HBS Lecture and here) Geographic innovation: Copycat: Rocket Internet - Amazon vs Lazada (Web) Market Research based innovation: Market leader DIY Pictura API (TV3, The Guardian) Classical Market Research Good for expansion of functioning business / hard to innovate (Coca-cola vs Pepsi) Big data based research Airbnb fund Craig list + Airbnb Change & Time based innovation: Demographic change: growing pensioners. Millennials vs Generation z Technological Adoption: iphone 4 picture (2010) = Instagram (Video) Economic change: housing crisis (2008) = Airbnb (Video) How to select ideas? Check-list: What’s the market? How big it is? What is the target segment? How many competitors there are? How easy is it to start the business? Upfront investment? Do I have a skillset to realise the business or do I need a partner? Is it a single time purchase or recuring? How am I going to market it? Is there a way to scale it? Created by: Kristijonas Zibutis CEO at Match My Thesis https://www.matchmythesis.com/

1. Business ideas
generation & selection

2. Business ideas generation
Business ideas selection
01
02
03
04
About me
Break
05 Q&A

3. 01 About me
Kristijonas Žibutis - Linkedin
Match My Thesis, Pictura API
50+ Countries
Copenhagen Business School, DK
Karate, Marathon, Ironman
Education
Business
Sports
Travel

4. 01 About me
Match My Thesis, Pictura API
50+ Countries
Copenhagen Business School , Danija
Karate, Marathon, Ironman
Education
Business
Sports
Travel

5. Interlude

6. Terms
• Market
• Pivot
• Customer feedback
• Economies of scale

7. Peter F. Drucker, Entrepreneurship and Innovation
“Failure should always be considered
a symptom of an innovative
opportunity and taken seriously as
such.”
• Observe unexpected failure
• Observe unexpected success
Macy’s clothing + appliance
Dropbox
Vinted (Tomas Plantenga)

8. 02
Business ideas
generation

9. Generic strategies
02
• Innovator - high risk - high return
• Copycat - low risk - medium return
• Modifier - less risk - high return

10. Personal
innovation

11. Build products
for yourself

12. Crazy-
enough-it-
might-work
Poul Graham, Ycombinator
justin.tv / Twitch

13. Strategic innovation ideas
(Porter Generic Strategies)

14. Porter’s Generic Strategies

15. Low-cost:
Mailer lite vs Mail Chimp

16. Differentiation
Mailer Lite - Gay Community
Mailer Lite competitors - Band Community

17. Technological
Innovation

18. Low-end:
Mini-mill
Disruption Theory - Clay Christensen

19. High-end:
Tesla strategy (Toyota Prius 1997 - Tesla 2003)

20. High-end:
MPMan F10 1997 - Ipod 2001
PalmOne Tungsten T5 2004 vs iPhone 2007

21. Business model
innovation

23. Revolut
Value proposition - channel
innovation (n26 copy)

24. Norton
Antivirus
Value proposition - Pricing innovation

25. Geographic
innovation

26. Rocket
Internet
Copycats in different markets

27. Market Research
based innovation

28. Copy
Market
leader DIY
Pictura API (TV3, The Guardian)

29. Data based
research
Highest occupancy vs lowest real
estate price

30. Data based
research
Alternative to…

31. Change & Time
based innovation

32. Technological
Adoption
Instagram & Iphone

33. Economic
change
Airbnb

34. Current Trends &
Opportunities
Artificial
Intelligence
Quantum
Computers
Ageing
Population
China

35. Break
15 min.

36. 03
Business ideas
selection

37. What is a
good business?

38. Good
Business e.g.

39. Business idea
selection
checklist

40. What’s the
market? How
big it is?

41. John Patterson
20 per day
1eur / unit
Helena James Jenna Doe
35 per day
1.2 eur / unit
20 per day
1.1 eur / unit

42. 35 units / day
12.775 units
40 units / day
14.600 units
Total Market Size :
27.375 units

43. 35 units / day
12.775 units
15.330 eur
40 units / day
14.600 units
15.330 eur
Total Market Size :
30.660 eur

44. Competitors &
Market Share
Helena James Jenna DoeJohn Patterson
100% 50% 50%

45. Expected Market
Share
Helena James Jenna DoeJohn Patterson
50% 33% 33%
ME
50%
ME
33%

46. Expected Market
Share
Helena James Jenna DoeJohn Patterson
50% 33% 33%
ME
50%
ME
33%
7.665 5.110 5.1107.665 5.110

48. Target segment

49. 28 - 50
Quality Conscience
Upper income (non price sensitive)
Educated
Female
Prefers to drive
Target segment

51. What’s the traffic from each door?
Where does the competitor stand?
What kind of people come from each door?
Location
Traffic
Segment
Channel

52. How to select business idea check-list:
What’s the market?
How big it is?
What is the
target segment?
How many
competitors there
are?
How easy is it to
start the business?
Upfront
investment?
Do I have a skillset or
do I need a partner?
Is it a single time
purchase or recurring?
How am I going to
market it? Channel
Is there a way to
scale it?

53. Thanks!