Chapter 3 ideas to reality

Copyright 2008 Prentice Hall Publishing 1Chapter 2: Creativity
Inside the
Entrepreneurial Mind:
From Ideas to Reality
Inside the
Entrepreneurial Mind:
From Ideas to Reality

Creativity and InnovationCreativity and Innovation
CreativityCreativity – the ability to develop new– the ability to develop new
ideas and to discover new ways of lookingideas and to discover new ways of looking
at problems and opportunities;at problems and opportunities; thinkingthinking
new things.new things.
InnovationInnovation – the ability to apply creative– the ability to apply creative
solutions to problems or opportunities tosolutions to problems or opportunities to
enhance or to enrich people’s lives;enhance or to enrich people’s lives; doingdoing
new things.new things.

EntrepreneurshipEntrepreneurship
 EntrepreneurshipEntrepreneurship – the result of a– the result of a
disciplined, systematic process of applyingdisciplined, systematic process of applying
creativity and innovation to the needs andcreativity and innovation to the needs and
opportunities in the marketplace.opportunities in the marketplace.
 Entrepreneurs connect their creative ideasEntrepreneurs connect their creative ideas
with the purposeful action and structure of awith the purposeful action and structure of a
business.business.

Failure: Just Part of theFailure: Just Part of the
Creative Process!Creative Process!
 For every 3,000 new product ideas:For every 3,000 new product ideas:
 Four make it to the development stage.Four make it to the development stage.
 Two are actually launched.Two are actually launched.
 One becomes a success in the market.One becomes a success in the market.
 On average, new products account for 40 percentOn average, new products account for 40 percent
of companies’ sales!!of companies’ sales!!
 Creativity is an important source for building aCreativity is an important source for building a
competitive advantage.competitive advantage.

Right-Brained, Creative ThinkersRight-Brained, Creative Thinkers
 Always ask, “Is there a better way?”Always ask, “Is there a better way?”
 Challenge custom, routine, and tradition.Challenge custom, routine, and tradition.
 Are reflective.Are reflective.
 Are productive thinkers.Are productive thinkers.
 Play mental games.Play mental games.

Right-Brained, Creative ThinkersRight-Brained, Creative Thinkers
 Realize that there may be more than oneRealize that there may be more than one
“right” answer.“right” answer.
 See mistakes as pit stops on the way toSee mistakes as pit stops on the way to
success.success.
 See problems as springboards for new ideas.See problems as springboards for new ideas.
 Relate seemingly unrelated ideas to aRelate seemingly unrelated ideas to a
problem.problem.
 Have “helicopter skills.”Have “helicopter skills.”

Left-Brained or Right-Brained?Left-Brained or Right-Brained?
 Entrepreneurship requiresEntrepreneurship requires bothboth left-andleft-and
right-brained thinking.right-brained thinking.
 Right-brained thinking draws onRight-brained thinking draws on divergentdivergent
reasoning, the ability to create a multitude ofreasoning, the ability to create a multitude of
original, diverse ideas.original, diverse ideas.
 Left-brained thinking counts onLeft-brained thinking counts on convergentconvergent
reasoning, the ability to evaluate multiple ideasreasoning, the ability to evaluate multiple ideas
and to choose the the best solution to a problem.and to choose the the best solution to a problem.

Barriers to CreativityBarriers to Creativity
 Searching for the one “right”Searching for the one “right”
answeranswer
 Focusing on “being logical”Focusing on “being logical”
 Blindly following the rulesBlindly following the rules
 Constantly being practicalConstantly being practical
 Viewing play as lightheartedViewing play as lighthearted

Barriers to CreativityBarriers to Creativity
 Becoming overly specializedBecoming overly specialized
 Avoiding ambiguityAvoiding ambiguity
 Fearing looking foolishFearing looking foolish
 Fearing mistakes and failureFearing mistakes and failure
 Believing that “I’m not creative”Believing that “I’m not creative”

Tips for EnhancingTips for Enhancing
Organizational CreativityOrganizational Creativity
 Include creativity as a coreInclude creativity as a core
company valuecompany value
 Embrace diversityEmbrace diversity
 Expect creativityExpect creativity
 Expect and tolerate failureExpect and tolerate failure
 Encourage creativityEncourage creativity

 Create a change of sceneryCreate a change of scenery
periodicallyperiodically
 View problems as challengesView problems as challenges
 Provide creativity trainingProvide creativity training
 Provide supportProvide support
 Develop a procedure forDevelop a procedure for
capturing ideascapturing ideas

 Talk with customersTalk with customers
 Look for uses for yourLook for uses for your
company’s products orcompany’s products or
services in other marketsservices in other markets
 Reward creativityReward creativity
 Model creative behaviorModel creative behavior

Tips for Enhancing IndividualTips for Enhancing Individual
CreativityCreativity
 Allow yourself to be creativeAllow yourself to be creative
 Give your mind fresh input every dayGive your mind fresh input every day
 Observe the products and services of otherObserve the products and services of other
companies, especially those in completelycompanies, especially those in completely
different marketsdifferent markets
 Recognize the creative power of mistakesRecognize the creative power of mistakes

Tips for Enhancing IndividualTips for Enhancing Individual
CreativityCreativity
 Keep a journal handy to record your thoughtsKeep a journal handy to record your thoughts
and ideasand ideas
 Listen to other peopleListen to other people
 Listen to customersListen to customers
 Talk to a childTalk to a child
 Keep a toy box in your officeKeep a toy box in your office
 Read books on stimulating creativity or take aRead books on stimulating creativity or take a
class on creativityclass on creativity
 Take some time offTake some time off

The Creative ProcessThe Creative Process
PreparationPreparation InvestigationInvestigation TransformationTransformation
IncubationIncubation IlluminationIllumination VerificationVerification
ImplementationImplementation

PreparationPreparation
 Get your mind ready for creative thinking.Get your mind ready for creative thinking.
 Adopt the attitude of a lifelong student.Adopt the attitude of a lifelong student.
 Read …a lot…and not just in your field ofRead …a lot…and not just in your field of
expertise.expertise.
 Clip articles of interest to you and file them.Clip articles of interest to you and file them.
 Take time to discuss your ideas with otherTake time to discuss your ideas with other
people.people.

PreparationPreparation
 Get your mind ready for creative thinking.Get your mind ready for creative thinking.
 Join professional or trade associations andJoin professional or trade associations and
attend their meetings.attend their meetings.
 Study other countries and their cultures andStudy other countries and their cultures and
travel.travel.
 Develop your listening skills.Develop your listening skills.
 Eliminate creative distractions.Eliminate creative distractions.

TransformationTransformation
 Involves viewing both the similarities andInvolves viewing both the similarities and
the differences among the informationthe differences among the information
collected.collected.
 Two types of thinking required:Two types of thinking required:
 ConvergentConvergent – the ability to see the similarities– the ability to see the similarities
and the connections among various and oftenand the connections among various and often
diverse data and events.diverse data and events.
 DivergentDivergent – the ability to see the differences– the ability to see the differences
among various data and events.among various data and events.

TransformationTransformation
 How can you transform information intoHow can you transform information into
purposeful ideas?purposeful ideas?
 Grasp the “big picture” by looking for patternsGrasp the “big picture” by looking for patterns
that emerge.that emerge.
 Rearrange the elements of the situation.Rearrange the elements of the situation.
 Use synectics, taking two seeming nonsensicalUse synectics, taking two seeming nonsensical
ideas and combining them.ideas and combining them.
 Remember that several approaches can beRemember that several approaches can be
successful. If one fails, jump to another.successful. If one fails, jump to another.

IncubationIncubation
 Allow your subconscious to reflect on theAllow your subconscious to reflect on the
information collected.information collected.
 Walk away from the situation.Walk away from the situation.
 Take the time to daydream.Take the time to daydream.
 Relax – and play – regularly.Relax – and play – regularly.
 Dream about the problem or opportunity.Dream about the problem or opportunity.
 Work on it in a different environment.Work on it in a different environment.

VerificationVerification
 Validate the idea as accurate and useful.Validate the idea as accurate and useful.
 Is itIs it reallyreally a better solution?a better solution?
 Will it work?Will it work?
 Is there a need for it?Is there a need for it?
 If so, what is the best application of this idea in theIf so, what is the best application of this idea in the
marketplace?marketplace?
 Does this product or service fit into our coreDoes this product or service fit into our core
competencies?competencies?
 How much will it cost to produce or to provide?How much will it cost to produce or to provide?
 Can we sell it at a reasonable price?Can we sell it at a reasonable price?

Techniques for Improving theTechniques for Improving the
Creative ProcessCreative Process
 BrainstormingBrainstorming
 Goal is to create a largeGoal is to create a large quantityquantity of novel andof novel and
imaginative ideas.imaginative ideas.

Brainstorming GuidelinesBrainstorming Guidelines
 Keep the group small – “Two pizza rule.”Keep the group small – “Two pizza rule.”
 Make the group as diverse as possible.Make the group as diverse as possible.
 Company rank is irrelevant.Company rank is irrelevant.
 Have a well-defined problem, but don’t reveal itHave a well-defined problem, but don’t reveal it
ahead of time.ahead of time.
 Limit the session to 40 to 60 minutes.Limit the session to 40 to 60 minutes.
 Take a field trip.Take a field trip.
 Appoint a recorder.Appoint a recorder.

Brainstorming GuidelinesBrainstorming Guidelines
 Use a seating pattern that encourages interaction.Use a seating pattern that encourages interaction.
 Throw logic out the window.Throw logic out the window.
 EncourageEncourage allall ideas from the team.ideas from the team.
 Shoot for quantity of ideas over quality of ideas.Shoot for quantity of ideas over quality of ideas.
 Forbid criticism.Forbid criticism.
 Encourage idea “hitch-hiking.”Encourage idea “hitch-hiking.”
 Dare to imagine the unreasonable.Dare to imagine the unreasonable.

 Mind-mappingMind-mapping
 A graphical technique that encourages thinking on bothA graphical technique that encourages thinking on both
sides of the brain, visually displays relationships amongsides of the brain, visually displays relationships among
ideas, and improves the ability to see a problem fromideas, and improves the ability to see a problem from
many sides.many sides.
 BrainstormingBrainstorming
 Goal is to create a largeGoal is to create a large quantityquantity of novel andof novel and
imaginative ideas.imaginative ideas.

 TRIZTRIZ
 A systematic approach designed to solve any technicalA systematic approach designed to solve any technical
problem, whatever its source.problem, whatever its source.
 Relies on 40 principles and left-brained thinking to solveRelies on 40 principles and left-brained thinking to solve
problems.problems.
 Rapid prototypingRapid prototyping
 Transforming an idea into an actual model thatTransforming an idea into an actual model that
will point out flaws and lead to designwill point out flaws and lead to design
improvements.improvements.

Protecting Your IdeasProtecting Your Ideas
 PatentPatent – a grant from the Patent and– a grant from the Patent and
Trademark Office to the inventor of aTrademark Office to the inventor of a
product, giving the exclusive right to make,product, giving the exclusive right to make,
use, or sell the invention for 20 years fromuse, or sell the invention for 20 years from
the date of filing the patent application.the date of filing the patent application.

-
5 0,000
100, 000
150, 000
200,00 0
250,00 0
300,00 0
350,00 0
400,00 0
NumberofApplicationsorPatents
1975 19 80 1985 1990 1995 19 97 1998 1999 200 0 200 1 200 2 2 003 2004
Number of Patent Applications and Patents Issued
Patent Applications
Patents Issued

The Steps to a PatentThe Steps to a Patent
Establish the invention’s novelty
Document the device
Search existing patents
Submit the patent application
Prosecute the patent application
Study search results

 TrademarkTrademark – any distinctive word, symbol,– any distinctive word, symbol,
design, name, logo, slogan, or trade dress adesign, name, logo, slogan, or trade dress a
company uses to identify the origin of acompany uses to identify the origin of a
product or to distinguish it from other goodsproduct or to distinguish it from other goods
on the market.on the market.
 ServicemarkServicemark – the same as a trademark– the same as a trademark
except that it identifies the source of aexcept that it identifies the source of a
service rather than a product.service rather than a product.

-
50 ,0 0 0
10 0 ,0 0 0
150 ,0 0 0
2 0 0 ,0 0 0
2 50 ,0 0 0
3 0 0 ,0 0 0
3 50 ,0 0 0
19 8 0 19 8 5 19 9 0 19 9 5 19 9 7 19 9 8 19 9 9 2 0 0 0 2 0 0 1 2 0 0 2 2 0 0 3 2 0 0 4
Trademark Applications and Trademarks Issued
Trademark Applications
Trademarks and Renewals Issued

 CopyrightCopyright – an exclusive right that protects– an exclusive right that protects
the creators of original works of authorshipthe creators of original works of authorship
such as literary, dramatic, musical, andsuch as literary, dramatic, musical, and
artistic works.artistic works.
 Copyrighted material is denoted by theCopyrighted material is denoted by the
symbolsymbol ©.©.

Type ofType of
ProtectionProtection
What ItWhat It
CoversCovers
TimeTime
RequiredRequired CostCost
CopyrightCopyright Works of originalWorks of original
authorshipauthorship
About 2 weeksAbout 2 weeks About $30About $30
TrademarkTrademark Logos, names,Logos, names,
phrasesphrases
6 – 12 months6 – 12 months $900 - $1,500$900 - $1,500
Design patentDesign patent Look of anLook of an
original productoriginal product
Up to 2 yearsUp to 2 years $5,000 - $20,000$5,000 - $20,000
Utility patentUtility patent How an originalHow an original
product worksproduct works
2 – 5 years2 – 5 years $5,000 - $20,000$5,000 - $20,000
Business methodBusiness method
patentpatent
A businessA business
processprocess
2 – 5 years2 – 5 years $5,000 - $20,000$5,000 - $20,000
Source: Anne Field, “How to Knock Out Knock Offs,”Source: Anne Field, “How to Knock Out Knock Offs,” Business WeekBusiness Week, March 14, 2005., March 14, 2005.

Chapter 3 ideas to reality

More Related Content

What's hot

Viewers also liked

Similar to Chapter 3 ideas to reality

Recently uploaded

Chapter 3 ideas to reality