E-NNOVATE empowers entrepreneurs with innovative tools to create and implement innovative ideas for business success. It considers a 3 stage idea development processes which cut across Conceptualization, Commercialization and Actualization.

3. e-nnovate
Entrepreneurship with Innovation
By
David Lanre Messan
Innovation Strat-Artist

4. Generating business ideas
(ideas for entrepreneurship)
Business ideas –are they for the genius?
How to tap into the world of ideas- think big
Pointer to business ideas?
Existing business ideas that you can run with

5. No boundaries – break loose from the cage.
The enterprise that does not innovate ages and
declines and in a period of rapid change such
as the present, the decline will be fast.”
As an entrepreneur, the ability to convert ideas
to things (be it product, service or tangible
change) is the secret of outward success.

6. The purpose of Business
Innovation
• To create new products,
define new processes.
• To create new customer
demand
• To build strong teams
capable of constant
innovations.
Generally, an entrepreneur
who innovates simply
BRING IDEAS TO LIFE.

7. What is Entrepreneurship?
• The creating and nurturing of a unique organised
system to either produce or offer service that fill
a need as a method of adding significant value to
human life and to make profit, can be regarded
as entrepreneurship.
• The ability to convert thinking to things;
problems to opportunities; opportunities to
tangible realities; all worth paying for to satisfy a
desire is the beginning of anything
entrepreneurship.

8. IDEAS
Entrepreneurship begins with ideas & thrives on
innovation, supported by markets,
technology, human resources, finance e.t.c.
TYPES OF IDEAS
• Commercial ideas
• Project ideas
• Transformational ideas

9. Ideas Rule!!!!

10. WHAT IS AN IDEA?
An idea is knowledge based
propositions which contain
inherent value that solves a
problem or addresses a
situation.
Many elements inspire ideas.
• God, Needs,
Problems/challenges,
Environment, Observations,
Experiences, Knowledge,
Adventures.

11. IDEAS THAT TRANSFORM
• Steve Jobs built the
most innovative and
valuable technology
company in the world,
he began laying the
foundation for the
Apple takeover in 1996
which finally took off in
2001 spearheading an
unmatched cultural
force in history.

12. IDEAS THAT TRANSFORM
Peter Drucker, is unarguably the greatest
management thinker of the last
century, also known as the creator
and inventor of all modern
management concepts. He invented
the toolkit to effectively manage
incredibly complex organisations.
Some of them included the importance
of picking the best people, on
focusing on opportunities instead of
problems, on getting on the same
side of the desk as your customer, of
the need to understand your
competitive advantage and to
continue to refine them.
Talented people were the essential
ingredient of every successful
enterprise.

13. IDEAS THAT TRANSFORM
• Anita Roddick mixed the
need to meet urgent
humanitarian needs with
entrepreneurial genius to
form the giant beauty
multinational, The Body
Shop.
If you think you are too
small to have an impact,
try going to bed with a
mosquito.

14. IDEAS THAT TRANSFORM
Mark Zuckerberg...
took an idea which wasn’t
completely his and
turned it into a project
that grew into one of
the world’s most
influential businesses
ever.

15. IDEAS THAT TRANSFORM
Richard Branson’s nerdy
innovativeness pushed
him into many ventures
helping him create the
Virgin Empire with over
50 companies
underneath its belt.

16. hOW tO gO aBOUT iT ?
TAKING YOUR IDEAS
THROUGH THE THREE
STAGES OF
DEVELOPMENT
• Conceptualization
• Commercialization
• Actualization

17. Conceptualize the Idea
This is a process where an entrepreneur thinks through an
idea & substantiates it. The basic features of this stage
include:
• -Pry-thought: being inquisitive, observant using the
questioning methods to stabilize the concreteness of an
idea after it drops as a thought.
• -Practicability: researching the viability of an idea through
evaluation processes in order to create a function able
market structure for it across several areas.
• -Prioritizing: an entrepreneur must device at least 5
business aspect of a single idea & prepare a SWOT
perspective around these 5 business areas & afterwards
sequence an action plan through prioritizing.

18. Commercialize the Idea
This stage enables you to fit the adopted idea
into an identified market with strategies
across 5 Ps:
• People
• Product
• Pricing
• Process
• Paradigm

19. Commercialize the Idea
People:
These are the most important assets
to a visionary entrepreneur. You
must have an instinct to know
the right kind of men to fish for
your business empire. Learn to
identify them by skills relevant to
your vision for business; give
them stakes to enable them run
with the vision, keeping their
hands glued to the plough; & also
be sensible enough to pass the
stick of leadership to them, to
carry on with the business of
innovation.

20. Commercialize the Idea
Product:
As an entrepreneur, create
real products from your
ideas, whether tangible or
intangible. Make your
customers personalize your
products either by the feel
or experience. Even your
service can be made to be a
product for as long as you
create a personalized
content out of it, for
customers.

21. Commercialize the Idea
Pricing: This is important & is done
by considering the demographics
& psychographics of your market.
• Demographics: age, annual
income, educational attainment,
type of occupation, region of the
country they live in, household
statistics.
• Psychographics: behaviours,
lifestyle, reasoning patterns,
interest, hobbies.
All your considerations would enable
you tag a fair pricing for the
product.

22. Commercialize the Idea
Process: Your business ideas must have a process
model which is simply a collection of
activities created or designed to achieve pre-
determined business goals for a particular
customer(s).
You must consider the following:
• Management Process: Which is the process
that govern the separation of a system & this
is basically includes corporate governance &
strategic management.
• Operational processes: which constitutes
the core business & create the primary value
stream? This includes: purchasing,
advertising, marketing & sales.
• Supporting process: which supports the core
processes e.g. accounting, recruiting, call
centre, technical support.
Basically, a business process begins with a
mission objective & ends with achievement
of the business objectives. This enables you
to control barrier chains & work within
structures.

23. Commercialize the Idea
Paradigm:
This signifies a cultural
adaptability by everyone
involved in the internal
management of your
business. You must create
your own corporate culture
& live it passionately,
ensuring that everyone
stays motivated & inspired
to exude it for the success
of your business.

24. Actualize the Idea
After you have
conceptualized and
commercialized your
business idea in the
most innovative way,
you are now ready to
actualize the idea.
This is what you do...

25. Actualize the Idea
Package the idea
-create a business plan
-put up a branding
package
-create an
implementation plan

26. Actualize the Idea
Parastatals
-legalize your business with
CAC
-register with tax agencies
(FIRS, LIRS)
-get your licenses in
exceptional cases of
extreme situations

27. Actualize the Idea
Positioning &Promotions:
Begin to promote your
business everywhere
you go so as to position
it in the minds of your
customers &
prospective.

28. Actualize the Idea
Pitching your business
Idea to partners
-investors
-friends
-families
-team
-banks

29. Actualize the Idea
Patronizers
-identify new markets
-penetrate new markets
-own a share of the
market
-win & sustain their
loyalty
-use the concrete circle to
locate your market
segments.

30. Actualize the Idea
Profits
- make projections
- predict your profit by
taking away cost from
sales in projection.
- plan your profits i.e.
internal investment &
external investment.

31. Actualize the Idea
Push
- Keep talking about your
business
- understand the business by
learning more about the
business
- sell the products vision
without winking
- have a culture of innovation,
new thinking and opportunity
management.

32. Infinite Impact Company

33. …and I say
Thank
You
I am DLM.
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