INNO 2004 x

From Intuition to Insight:

Desirability, Feasibility &

Viability

Week 1
Topic Coordinator & Lecturer: Carla Dias Wadewitz
Experience in: teaching Innovation & Enterprise,
delivering executive education innovation programs,
mentoring start-ups, consultancy with United Nations,
investment banking (venture capital), SA Government and
international strategic management consulting

https://www.linkedin.com/in/carla-dias-wadewitz-3224202

Email: [email protected]

Office 3.45 Bedford Campus (Law & Commerce)

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 AGENDA - SESSION 1
1. Introduction
2. Course Objectives
3. Course Outline
4. Grading
5. Course Deliverables
6. Getting to know each other
7. Teams for Group Projects
8. SA Start-up Ecosystem/Being and Entrepreneur
9. Desirability, Viability and Feasibility: The Concepts
10. Desirability: Revisiting some INNO tools

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 SESSION 1: OBJECTIVES

1. Introducing the topic and the main learning objectives

2. Detailing the topic assessment components

3. Explaining the topic main deliverables

4. Explaining the topic support

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 TOPIC OBJECTIVES
1. Describe and apply in-field research tools to better understand the need & demand for
innovations.
2. Understand and explain relevant underlying theories - such as the idea of product or
service, benefits vs. features, needs analysis, market segmentation, perceptual mapping,
etc.
3. Derive insights from the application of these tools and use the insights to reformulate
proposed innovations, using design-thinking techniques.
4. Plan and manage a question-research-adjust approach to validating demand, feasibility
and viability of an innovation.
5. Develop a detailed plan to assess desirability, viability and feasibility of your business idea.
6. Practice telling an insightful, evidence-based story for a specific audience.

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 TOPIC OBJECTIVES

Desirable the most

valuable
Innovation

Feasible Viable

The Innovation Sweet Spot

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 TOPIC OBJECTIVES
The Innovation Sweet Spot
Desirability Do people want it?

Viability Should we do it?

Feasibility Can we do it?

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 TOPIC OUTLINE
Individual Deliverables
1. Introduction & Review
of INNO Concepts 8. Desirability &
9. Feasibility
Viability
*Team Selection
Team Deliverables

7. Intermediate 10. Desirability &

2. Desirability
Presentation Viability & Feasibility

11. Desirability &

3. Desirability 6. Viability
Viability & Feasibility

12. Desirability &

4. Desirability 5. Viability 13. No Class
Viability & Feasibility

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 TOPIC OUTLINE
# Sessions Description Weekly Work Due
• Introduction 1. Get together with the other team members and select 3 ideas for the
Introduction & Review of INNO • Recap of most relevant INNO concepts: Team Project (guidelines provided)
1
Concepts 2. Prepare presentation with assessment and elevator pitch for each idea
• Selection of the Team Project idea 1. Business Model Canvas 1.0 (Customer Segments & Value Proposition)
• Business Model Canvas & the Ecosystem 2. Ecosystem
2 Desirability • Customer Segments & Value Proposition 3. Personas & Empathy Map (for 2 customer segments)
• Empathy Map, Personas, Customer Journey, Jobs to be Done 4. Start development of the Team Blog

• Definition of Hypothesis & Hypothesis Validation 1. Hypothesis Priority Matrix (10 hypothesis on Customer Segments &
• Validation tools (Interviews, Surveys, Focus Groups, Value Proposition)
3 Desirability Experimentation, Landing Pages) 2. Hypothesis Validation Board
3. Start development of the Landing page

• Online and Offline Market Research Basics (Collection, Analysis, 1. Interview guide & Interviews (5)
4 Desirability Communication and Use of Data) 2. Survey guide & surveys (50)
• Market Research Fallacies

• Market sizing (TAM, SAM, SOM) 1. Calculation of TAM, SAM & SOM
• Competitor Analysis (Value Curves, Perceptual Maps, SWOT 2. Value Curves, Perceptual Map, Competitor Matrix, SWOT Analysis
5 Viability Analysis) 3. Update Business Model Canvas (Value Proposition, Revenues)
• Revenues & Pricing 4. Calculation of Revenues
• Cost Structure 1. Update Business Model Canvas (Costs)
6 Viability • Financial Plan 2. Financial Plan (Draft)
• Definition of Hypothesis & Hypothesis Validation 3. Hypothesis on revenues and costs (5)

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 TOPIC OUTLINE
# Sessions Description Weekly Work Due
• Teams will present their group project showing the 1. Team Intermediate Presentation
7 Intermediate Presentation applications of concepts and methodologies taught in class up
to week 6.
• Analysis of Validation Results 1. Update Business Model Canvas
• Potential visit to a Market Research Company 2. Update Hypothesis Validation Board
8 Desirability & Viability
3. Update TAM, SAM & SOM, Value Curves, Perceptual Map, SWOT
4. Update Financial Plan
2 weeks break
• Channels 1. Submission of Individual Assignment
• Key Resources, Key Activities and Key Partners 2. Complete Business Model Canvas (Channels, Key Resources, Key
• Value Chain Activities & Key Partners)
9 Feasibility
• Definition of Hypothesis & Hypothesis Validation 3. Hypothesis on Channels, Key Resources, Key Activities & Key Partners(3)
• The Concept of Feasibility Study 4. Surveys (100)
5. Interviews (20)
• Integrated analysis of validation results 1. Update Business Model Canvas
• Funding 2. Update Hypothesis Validation Board
10 Desirability & Viability & Feasibility 3. Update TAM, SAM & SOM, Value Curves, Perceptual Map, Competitor
Matrix, SWOT
4. Update Financial Plan
• The Pitch 1. Submission of the Team Blog
11 Desirability & Viability & Feasibility
• Finalising the Business Model
12 Desirability & Viability & Feasibility • Final Presentation/Pitch of Group Project in class. 1. Presentation/Pitch of the Team Project
1. Submission of Peer Review
13 NO SESSION NO SESSION 2. Submission of Final Team Project Report

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 TOPIC ASSESSMENT
Team (55%)
• Intermediate Presentation: 15%
• Blog/Website: 15%
• Project Report/Final Presentation: 25%

Individual (45%)
• Class participation and in class performance: 10%
• Assignment: 25%
• Contribution to the team’s work (peer review): 10%

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 TOPIC ASSESSMENT
INDIVUAL ASSIGNMENT
1. Think about an innovative initiative (product, service, social enterprise, program)

2. Apply the tools/methodologies learned in class (up to week 8)

3. Derive conclusions

4. Develop a plan

5. Major lessons learned

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 TOPIC ASSESSMENT
TEAM PROJECT
1. Think about an innovative initiative (product, service, social enterprise, program)
2. Apply the tools/methodologies learned in class
3. Develop a blog
4. Derive conclusions
5. Develop a plan
6. Major lessons learned (weekly)

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 DELIVERABLES: INDIVIDUAL
Deliverables Due Date Short Description
• Report in the form of a presentation (PPT or DOC) which assesses the desirability and viability of an innovative
initiative (new product/service, social enterprise, program innovation) defined by the student.
Individual • Includes documentation of the evidence and analysis with materials taught in class until week 8
Week 9 – OCT 7
Assignment 1 • Max: 10 slides (PPT) or 6 x A4 single spaced pages (DOC)

NOTE: Please refer to the Assessment and Grading Guidelines on FLO for more a more detailed description of the assignments. All assignments are due by 5 PM.

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 DELIVERABLES: TEAM
Deliverables Due Date Short Description
• Presentation of the Team project evidencing their innovative initiative (new product/service, social enterprise,
Intermediate program innovation) and the tools and methodologies delivered by Week 6.
Week 7 – SEP 9
Presentation • Max time: 7 minutes + 5 minutes (Q&A)
• Max slides: 12
• The Team blog should include:
Team • the description of your innovative initiative
Week 11 – OCT 21
Blog/Website • the summary of the results of the application of the tools taught in class
• main lessons learned
• The Team should design and deliver an engaging presentation pitch to present their final project to a jury panel.
Team Final • Max time: 7 minutes + 5 minutes (Q&A)
Week 12 – OCT 28
Presentation • Max slides: 12
The grade of the Team Project Presentation will count 50% of the Team Project Final Grade.
• The Team Project Report requires students to:
• identify a new product/service/application
Team Final
Week 13 – NOV 4 • assess the new product/service/application in terms of desirability, viability and feasibility
Report • show and provide evidence on the application of tools and methodologies taught in class
The grade of the Team Project report will count 50% of the Team Project Final Grade.

NOTE: Please refer to the Assessment and Grading Guidelines on FLO for more a more detailed description of the assignments. All assignments are due by 5 PM.

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 TEAM BLOG/WEBSITE
• Options: Weebly, Wordpress, Tumblr, Blogger, WIX, others.

• Describe your innovative initiative

• Include the summary of the results of the application of the tools taught in class

• The challenge today is to be heard in the crowded world out there…

• Make it interesting!

• Share your lessons learned (inside and outside of class)

• It’s part of your legacy!

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TEAM BLOG: EXAMPLE 1
https://around-me.weebly.com/

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 TEAM BLOG: EXAMPLE 2
https://ezpartsau.wixsite.com/mysite

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TEAM BLOG: EXAMPLE 3
https://cydrus.weebly.com/

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TEAM BLOG: EXAMPLE 4
https://brandstateam.wordpress.com/

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TEAM BLOG: EXAMPLE 5
https://mytrackxl.weebly.com/

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TEAM BLOG: EXAMPLE 6
https://1docnow.weebly.com/

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 TEAM BLOG
Home Page
Recommended Structure
Business Sessions
About Us Validation
Model Summary

Elevator’s Hypothesis Team

Team Version 1.0
Pitch Forms/Matrix Presentations

Lessons
Profile 1 Version 2.0 Testing results Learned

Profile 2 …

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 TEAMS
Ideal criteria to meet:
1. Five-Six people per team (ideal)

2. Complementary skills (hacker, hustler, designer) and academic

background (Business, Design & Technology, Arts, IT, etc.)

3. Combination of different nationalities (if applicable)

4. Gender variety (if applicable)

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 TEAMS

Hacker “Ideal startup team should have three

types of people: Hackers who can
code, Hustlers who can get the
business and Designers who can
design.”
Designer Hustler
Steve Blank
Source: http://steveblank.com/2011/12/13/the-startup-team/

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 GETTING TO KNOW EACH OTHER

1. Academic background

2. Country/Study Program

3. What you want from this INNO Topic

4. What would you like to do in this INNO Topic

5. Why are you the best team member!

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 TEAMS

Team values to nurture:

• Sharing
• Trusting (“Chatham House rule”))
• Networking
• Giving back
• “Getting out of the building”
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 THINKING OUT OF THE BOX

New world
requires new
skills?

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 THINKING OUT OF THE BOX

New world
requires new
skills?

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THINKING OUT OF THE BOX
Video

What would you do? (3:02 mins)

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 BEING AN ENTREPRENEUR
“Someone who is creating something, nurturing and leading it”

“Dedicating yourself to create something out of nothing”

“Entrepreneurship is embracing challenges”

“Someone who seeks to profitably solve a problem”

“To have the courage to commit and preserve through all of the challenges”

“Is the ability to recognize the big picture…. and continually test your assumptions”

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 TOP CHALLENGES OF AN ENTREPRENEUR
1. Picking the right business idea

2. Finding customers

3. Dealing with competition

4. Building a team

5. Financing the business

6. Managing the stress of not having a steady pay check

7. Finding trustworthy business partners

8. Dealing with negative people, loneliness and self doubt

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 TOP CHALLENGES OF AN ENTREPRENEUR
“Founders are hallucinating, and every
once in a while they’re actually
visionaries. Founders create on a blank
canvas, closer to artists than they are to
engineers or business people…..

They make things happen. And they need

this perseverance and tenacity and
resilience to drive them through those
obstacles, because rationally, it would
make a lot more sense to just exchange
your labour for money.” Steve Blank

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SA STARTUPS ECOSYSTEM IS DEVELOPING

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SA STARTUPS ECOSYSTEM IS DEVELOPING

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SA STARTUPS ECOSYSTEM IS DEVELOPING
- April 2020

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 CUSTOMER DEVELOPMENT

“Startups don’t fail because they lack a product; they fail because they lack

customers and a profitable business model.”

- Steve Blank

44 44
CUSTOMER DEVELOPMENT

45 45
45
DESIRABILITY
Video

Start-ups: The Lean Method (5:20 mins)

https://youtu.be/GPQExuB-lWw

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 DESIRABILITY

“When users and buyers find the product or service

valuable enough to spend time and/money required to
acquire and use it”. , Infoentrepreneurs.org

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 DESIRABILITY
Video

Harry and Paul-Dragons den-Kitty Stomper (4:32 mins)

https://www.youtube.com/watch?v=Mux9dl8RO6c

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 DESIRABILITY

TO UNDERSTAND THE “DESIRE OF OUR POTENTIAL CUSTOMER”…

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DESIRABILITY: USER VS CUSTOMER

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DESIRABILITY: USER VS CUSTOMER

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 DESIRABILITY: REVIEW OF INNO TOOLS
1. Customer Empathy Map

2. Persona

3. Lean and Business Model Canvas

4. Ecosystem Framework

5. Jobs to be Done Framework

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 DESIRABILITY: EMPATHY MAP

Source: Gamestorming - A Playbook for Innovators, Rulebreakers and Changemakers, by Dave Gray, Sunni Brown and James Macanufo

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 DESIRABILITY: EMPATHY MAP

• The Empathy Map helps to provide a better user experience by viewing the
perspective of your customers and identifying how to improve what they see,
hear, think, gain, and are challenged by.

• Through the extensive collaboration and visual organization involved in this tool,
you will be able to form a deeper understanding on what customers truly want
from your business.
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DESIRABILITY: EMPATHY MAP

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 DESIRABILITY: EMPATHY MAP
Examples of Gain and Pain
Gains Pains
• Saving money, effort or time • High costs
• Feeling good • Significant risks
• Increased pleasure • Negative emotions
• Making life easier • Difficulty in using the product/service
• Obtain more services • Poor performance
• Decrease the cost • Lack of features
• Decrease the learning curve • Defects
• Exceed expectations of quality • Frustrations and fears of financial, social or
technical issues
• Larger properties
• Needs learning
• Improved performance
• Changes from the usual (resistance to change)
• Increased personal power
• Increased social status

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 DESIRABILITY: EMPATHY MAP
This is going to be difficult!
How can I find a job?
I need to find a job Should I start my business?
The Economy is bad What will others think if I don’t
I’m willing to work hard get a job quickly?
Just give me an opportunity Should I try working in a foreign
Not many opportunities in this country country?
I’m ready to start working
I just want to get professional
experience
I am not really concerned with the
salary

Frustrated
Afraid of not getting a job
Anxious
Reads employment ads Tired
Uses Linkedin to look for jobs
Sad
Uses the Internet for tips about getting a job
Talks with friends about what they are doing
Enthusiastic
Reads about entrepreneurship Curious
Looks for info on working in other countries

Wants financial
Recent Graduate Find a Job independence from
parents

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 DESIRABILITY: EMPATHY MAP
How to use the Empathy Map:

1. Do a brainstorming session to better understand your customers

2. Choose at least one persona (character) per customer segment

3. Start by giving it a name and define his/her demographic characteristics

4. Use the Empathy Map to make questions and come up with the answers

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 DESIRABILITY: PERSONA

“Personas are fictional characters created to represent

the different user types within a targeted demographic,
attitude and/or behaviour set that might use a site,
brand or product in a similar way.”, Wikipedia
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 DESIRABILITY: PERSONA
Personas for an innovative drink

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DESIRABILITY: PERSONA

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DESIRABILITY: PERSONA

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DESIRABILITY: PERSONA

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 DESIRABILITY: PERSONA
(Persona Name)
Profile:
(Description of the demographic and psychographic characteristics of the
person. How does the person prefer to communicate with others (i.e.
(Photo) talking, email, phone, twitter, instant messaging, etc.)?
What are the main pains? How does the person overcomes obstacles?
How does the person feels after overcoming the obstacles? What makes
the person happy?

Personal Objectives: Day-in-the-Life:

(Description of the person (Description of what happens during a typical day, including personal,
personal objectives) family social and professional tasks.)

Professional Objectives:
(Description of the person
professional objectives)

(Customer Segment)

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 DESIRABILITY: PERSONA
Social Media is #1 Need

“I don’t miss
ca b l e . I don’t
“I don’tevenmissthink about
ca b l e . I don’t it.”
even think about
Ashley it.”

Sophomore, 19 ✓ Convenience

F l i n d e r s University ✓ Brand Reputation

Lives in Apartment with 3 ✓ Roommates m a d e

Roommates decision during
move-in week

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 DESIRABILITY: PERSONA
Live Sports is a M u s t
“My house only ca r e s
about sports.”

Tyle r
Senior, 22 ✓ C o nte nt

✓ Internet S p e e d
Rutgers University
Lives in House with ✓ 1 roommate m a d e
5 Roommates decision week
before move-in

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 DESIRABILITY: LEAN CANVAS
Purpose To Impact:
Product-Market Fit Purpose/Mission

Problem Solution Unfair Value- Channels Segments

Advantage Impact
Proposition
Key Eco-
Activities System

Cost Structure Revenue/Funding Streams

Impact

© Based on Lean Canvas, Ash Maurya, https://leanstack.com/leancanvas

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DESIRABILITY: BUSINESS MODEL CANVAS

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DESIRABILITY: BUSINESS MODEL CANVAS
Video

Getting From Business Idea to Business Model (2:12 mins)

https://www.youtube.com/watch?v=wwShFsSFb-Y

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DESIRABILITY: BUSINESS MODEL CANVAS

Desirability
Viability
Feasibility

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 DESIRABILITY: JOBS TO BE DONE

“A “job” is the progress that a person is trying to make in a

particular circumstance.
A job can only be defined— and a successful solution
created— relative to the specific context in which it arises.
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DESIRABILITY: JOBS TO BE DONE
Job to be Done Framework

https://jtbd.info/replacing-the-user-story-with-the-job-story-af7cdee10c27

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 DESIRABILITY: JOBS TO BE DONE
What job is a
specific customer
segment trying to
get done?

Tasks, problems
they are trying to
solve, or the
needs they are
trying to satisfy.
(Video) Harvard Professor Clayton Christensen on `jobs to be done` Video

http://www.businessmodelalchemist.com/2012/08/achieve-product-market-fit-with-our-brand-new-value-proposition-designer.html

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DESIRABILITY: JOBS TO BE DONE
1. Customer Jobs
• Milkshakes: no sales growth in fast food chain
• Question 1: How can we improve taste to get more
customers?  no impact on sales. What do you do?
• Question 2: What job causes you to hire a milkshake?
• Half of shakes sold before 8am: People needed something
to do during their drive to work
• Milkshake does the best job: last whole drive to finish, no
mess, not dry and tasteless, not hungry whole morning
• We hire products to do jobs for us: if you understand the job,
how to improve the product becomes just obvious

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 DESIRABILITY: JOBS TO BE DONE
When we buy a product we hire something to
get a job done

If it does the job well, we hire that same product

again for the same job

And if the product does a crummy job, we “fire” it

and look around for something else we might hire
to solve the problem

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 ECOSYSTEM FRAMEWORK
Political Socio-cultural
Forces Forces
1. List
Resource Competitors Bystanders stakeholders
Providers -Friendly & unfriendly -Government,etc
2. Categorize
-Capital
-People Focal Organization Beneficiaries relationships
-Business model canvas -Customers
-Knowledge
-Direct & indirect
3. Identify power
-Networks Complementary & resource
-Technology Opponents
Organizations flows
-Other -Allies -Disruptors
-Partners -Political foes 4. Identify forces
that distort
Economic Technological 5. Look for insights
Ecological
Forces Forces & opportunities
Forces
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 INDIVUAL ASSIGNMENT

1. Think about an innovative initiative (product, service, social enterprise, program)

2. Apply the tools/methodologies learned in class (up to week 8)

3. Derive conclusions

4. Develop a plan

5. Major lessons learned

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 TEAM PROJECT
1. Think about an innovative initiative (product, service, social enterprise, program)

2. Apply the tools/methodologies learned in class

3. Develop a blog

4. Derive conclusions

5. Develop a plan

6. Major lessons learned (weekly)

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 IDEAS
From the Problem/Opportunity to the Idea

Large
Big Disruptive?
Market?
Problem?

Scalable?
Right timing? Promotes Easy path to
connectivity? distribution?

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ELEVATOR PITCH

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 THIS WEEK - TO DOs
1. Meet with your team

2. Study the resources about business ideation (in Annexes)

3. Select with your team 3 business ideas and conduct assessment

(Idea Assessment Framework in Annex)

4. Bring in the 3 ideas in slides for next class (max 9 slides) including
the Elevator Pitch & Idea Assessment Framework

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 RECOMMENDED READINGS
• “Disrupters bring destruction and opportunity”, http://www.ft.com/cms/s/2/b9677026-8b6d-11e4-
ae73-00144feabdc0.html

• “Business Model Generation”, https://www.strategyzer.com/books/business-model-generation, Alex

Osterwalder and Ives Pigneau, pages 1- 51

• “The Start-up Team”, http://steveblank.com/2011/12/13/the-startup-team/

• “The Customer Development Manifesto”,

http://steveblank.com/2009/08/31/the-customer-development-manifesto-reasons-for-the-revolution-
part-1/
http://steveblank.com/2009/09/03/the-customer-development-manifesto-reasons-for-the-revolution-
part-2/

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 RECOMMENDED MEDIA
• Jobs to be Done introduction: https://www.youtube.com/watch?v=RQjBawcU_qg (January 2018)

• Jobs to be Done framework: http://jobstobedone.org/news/what-is-jobs-to-be-done/ (January 2018)

• Jobs to be Done – original idea: Identifying Customer Needs, Christensen,

https://www.youtube.com/watch?v=yVCZ-7xSsCw (January 2018)

• Persona introduction: https://www.youtube.com/watch?v=AVs59ddkzuQ (January 2018)

• Customer Empathy Map (and link to persona & further research):

https://www.youtube.com/watch?v=kAdbbsZolOw (January 2018)

• Customer Empathy Map applied, Empowering People

https://www.youtube.com/watch?v=fmY3-2sOhq4 (January 2018)

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SEE YOU NEXT WEEK !
ANNEXES
 ANNEXES: BUSINESS IDEATION
• Opportunity for entrepreneurs to develop products and services that meet an unsatisfied demand and upend the
competitive structure of the entire industry.

• Disruptive innovation can come in the form of:

• new business models like Southwest’s low-cost approach to flying
• cutting edge technologies like Intuitive Da Vinci surgical robot

• Disruptive products need not be high tech; Nintendo’s Wii was a low-tech game console with intuitive controls and
great gameplay that drew in younger gamers and brought back older “aficionados” who grew up with Super Mario.

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 ANNEXES: BUSINESS IDEATION RESOURCES
• https://au.oberlo.com/blog/business-ideas-that-make-money

• https://www.shopify.com.au/blog/low-investment-business-ideas

• https://www.businessnewsdaily.com/2747-great-business-ideas.html

• http://www.ft.com/intl/cms/s/2/b9677026-8b6d-11e4-ae73-00144feabdc0.html#slide0

• http://www.forbes.com/sites/quora/2013/05/08/what-are-the-best-ways-to-think-of-ideas-for-a-
startup/#2715e4857a0b4934cdb67797

• https://www.entrepreneur.com/article/201588

• http://www.forentrepreneurs.com/startup-ideation/

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 ANNEXES: BUSINESS IDEATION RESOURCES
UBER

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 ANNEXES: BUSINESS IDEATION RESOURCES
UNIPLACES

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 ANNEXES: BUSINESS IDEATION RESOURCES
Idea Working Name: ________________________ Points

1) Big and recognized problem

2) Marketable and Innovative Problem/Solution (e.g. disruptive)

3) Large Market (i.e. global or at least international market)

Assessment
4) Scalable Production (i.e. decreasing marginal costs)

5) Easy Path to Promotion and Distribution (e.g. Potential to go Viral and/or leveraging the
Internet)

Framework 6) Easy to Bootstrap (e.g. client funded and/or low investment)

7) Right Timing (i.e. intersection of demand and capability)

8) Favorable Key Trends (i.e. PEST Analysis)

9) Attractive Industry (i.e. Porter’s Five Forces)

10) I (We) like it!

TOTAL*

Points: Min=1 and Max=5. Discard Idea if Total < 30 Points)

90
90
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Business Ideas
What are good ideas?

91
91
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The idea is just 10%

James Caan

92
92
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Is it a “Big” Problem?

93
93
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Can we develop an Innovative Solution?

94
94
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Is our Problem or Solution Disruptive enough?

95
95
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Is there a Large Market?

96
96
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Can we Scale it?

97
97
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Is there an Easy Path to Distribution?

98
98
 ANNEXES: BUSINESS IDEATION RESOURCES

Can we leverage it thorugh the Internet?

99
99
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Is it Easy to Bootstrap (self fund)?

100
100
 ANNEXES: BUSINESS IDEATION RESOURCES

Is it the Right Timing?

101
101
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Does it Harnesses Mobility?

102
102
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Favorable Key Trends?

103
103
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Attractive Industry?

104
104
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I (We) Like it!

“Don’t start a
company unless it’s
an obsession and
something you love”
Mark Cuban, “The Sport of
Business”

105
105
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Opportunities start with Problems

106
106
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Sources
(TechCrunch.com)

107
107
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Sources
(Springwise)

108
108
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Sources
(KillerStartups)

109
109
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Other Sources – Demo Days

Search on Youtube for

different types of Demo
Days

110
110
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Owlet at Business Model Competition

Owlet Pitch Video - https://vimeo.com/84423056 (9:55 mins)

111
111
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Naming Your Business

Input Keywords
Use Wordoid.com
Compile a List of on
to generate
Keywords LeanDomainSear
names
ch.com

Check that all

Use Knowem.com
founders agree Test your best
to check
about the best available names
availability
name

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Testing Names
• Test spell ability: record your startup names using a smartphone, play it once and ask
people to write each name;

• Test memorability: show the user your startup names, talk for 5 minutes about the
value proposition and customers segments and ask what names they remember;

• Test associations: ask people how they feel, what images come to mind and what
organizations they remember when hearing each name.

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113