Presentation given to the University of Melbourne entrepreneurship programme - Melbourne Accelerator Programme

1. Idea to Innovation

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MOVE FAST
AND BREAK
THINGS

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2,000+ Startups

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GOT
IDEAS ?

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An idea is nothing
more nor less than
a new combination
of old elements
- James Webb Young

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What is ideation
anyway?

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Jargon?
“It depends…”

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PMs & Tech

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Design Thinking
“RADICAL”
design alternatives

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Everyone else…
Idewhat??

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Ideation is…

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the process of bringing
ideas to life
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Ideation Techniques
Brainstorming (alone/together)
Borrowing
Logical level Up
Brainwriting
ForceFit (intense peace)
Poetry
Bizarro world

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How might we…
Use parts of this problem for good?
Separate the problem from the
experience?
Make it the opposite of the problem?
Challenge the assumption of the
problem?
What if you change the status quo?

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Ask yourself some questions…
Do you know you are solving a problem?
Do you know whose problem you re solving?
Do you know what problem you’re solving?
How do you know?
Have you talked to people?
…Has your idea changed as a result?

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“We always look at an issue
or problem through our own
lens.
Our expertise, experiences
and bias leads us to our own
unique solution.”
- Someone

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The journey of an idea
Minimum
Viable
Product
Traction
Woooohoooooo!
Confusion, Chaos
[Time & Money]
Validation
YAY!

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If I had an hour to solve a
problem I‘d spend 55 minutes
thinking about the problem
and 5 minutes thinking about
solutions.
(but… we have the luxury of failing)
- Albert Einstein

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No problem?!
PROTOTYPE
AARGHH!
IDEA?
HELP!
IDEA!!

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Lean Startup
DATA
TEST
HYPOTHESIS
MEASURE
BUILD
LEARN

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Customer Development

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Bright Arena Pathfinder Canvas
LOOKING OUT !
" LOOKING IN
Opportunity
or Problem
Solution
Unique Value
Proposition
Key Partners
Customer
Key
Resources
Customer
Relationship
Costs
Revenue
Existing
Alternatives
Unfair
Advantage
5
4
6
7
8
9
Early
Adopter
2
1
3
ACTIVITY

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“Human centered” innovation
don t accept the problem as given
- Probe
- Prototype
- Collaborate
Ask WHY…. And, above all, ACT

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“It s only when you open
yourself up to the absurd
that you find true creativity”
- Someone Else

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I d like my
crayons back,
please.
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Where is ideation?
ideation
MVP TractionChaos Validation

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In closing
Some practical stuff…

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Bright Arena Pathfinder Canvas
LOOKING OUT !
" LOOKING IN
Opportunity
or Problem
Solution
Unique Value
Proposition
Key Partners
Customer
Key
Resources
Customer
Relationship
Costs
Revenue
Existing
Alternatives
Unfair
Advantage
5
4
6
7
8
9
Early
Adopter
2
1
3

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Idea Articulation
I am developing
(a defined offering)
to help (a target audience)
to (solve a problem)
with (secret sauce) .
ACTIVITY

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7 Rules of an Idea
1. Simple ideas win
2. Simple original ideas win twice
3. Single revenue stream
4. Name your customer
5. Easy to explain
6. BIG market
7. Legitimate secret sauce

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The idea itself
1. Must be specific
2. Avoid buzzwords
3. Avoid adjectives

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Testing your idea
1. Share your idea – feedback rocks
2. Ideas don’t matter – execution does
3. Nobody is going to steal your idea
4. NDAs are becoming obsolete

36. Dougal Edwards
0422 522 339
dougal@brightarena.com
/in/dougaledwards
@brightarena
www.brightarena.com
Questions?