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Idea Starter Weekend

Indrek MaripuuNeitsijärve Loovusait

www.maripuu.eu

@indrekmaripuu

#educator #brainstormer #founder.

Inspiring you and your team to think across traditional boundaries

www.twitter.com/indrekmaripuu

How well you know yourself as an entrepreneur?

Take a quick 10-question assessment to identify your rofile (how you are wired as an entrepreneur).

Be authentic. The more truthful your selections, the more relevant the insight you'll receive.

www.bosidna.com

Problem

What is the first step to building

a business?

Identifying the problem you are going to solve!

Focus on the problem first,

not on the solution!


As long as consumers have problems, they

will always search for solutions.

Most of the people will always look for better, faster

and/or smarter ways to solve their

problems.


Solve real painful problems!

Google made search better. Amazon simplified online buying and selling. Uber is trying to make on-demand

car service better.

What problem you want to solve?


What problem you want to solve?

●Discuss in your group.●Every member of the group should suggest

at least one problem.●Select one!

[Established teams: feel free to find subproblems]


Open Space!

YOUR GOAL: to get a deeper understanding

of those problems.


A deeper understanding:

(1) What problem are you trying to solve?(2) How many people have this problem? (3) Will they pay to solve it? How much?(4) If this problem is not solved, what are the

undesirable consequences? (5) How are they trying to solve this problem

today?(6) What would be the benefits of having this

problem immediately solved?


Choose a problem / team!


“If I had an hour to solve a problem I'd spend 55 minutes thinking about the

problem and 5 minutes thinking about solutions.”

PROBLEM

SOLUTION (IDEA)

ADVANTAGE

You need this for Business Model and for pitching

old

Old patterns makes us BLIND!

Four principles of an open space session:

● Whoever come are the right people.● Whatever happens is the only thing that could have.● Whenever it starts is the right time.● When it’s over, it’s over.

Law of two feet:

If at any time during our time together you find yourself in any situation where you are neither learning nor contributing, use your two feet, go someplace else.


● Now we need a owner / facilitator for every problem. ● Everyone else: use the Law of Two Feet and participate in discussions ● Owner of the problem: record the results


Brain-storm

Now let´s use same trick for generating ideas to solve the problem.

Did you see - picture changed the starting point of your idea!
















Selection

Map all ideas based on 2 criterias: business potential and effort

business potential

effo

rt


Business model canvas

You fail to build something that people

actually want to use and pay

for.


Main reason for failing?

https://youtu.be/QoAOzMTLP5swww.twitter.com/indrekmaripuu

https://youtu.be/QoAOzMTLP5s


Pick your best idea (or ideas) and create a business model

Be as specific

as possible

Product?Service?

Free+ads?Etc?

1. 2.

3.

4.

5.

6.

7.

8.

9.

From customers

point of view

Not for starting a business, but

for offering value to

customers


BAD NEWS! Your business model is still just a set of untested hypotheses.

Because you haven´t asked customers!

The most valuable information can only be collected outside of the building.

How to test? Identify core assumptions

In the beginning the business model is based on assumptions.

It’s very important to identify core assumptions and to turn them into hypotheses that are testable.


The goal of the tests is to get your idea out there as quickly and as cheaply as possible, and test your assumptions.

That’s where the real learning starts to happen - your assumptions aren’t going to be 100% right, but most probably they won’t be 100% wrong either.

How to test? Goalwww.twitter.com/indrekmaripuu

How to test (just some hints):

● Prototype – Build a demo device or offer a temporary service.● The Video – A basic video presentation describing features and even demonstrating an early prototype. ● The Wizard of Oz Test – In this test, the customer interacts with a “skin” of the product, but the functions (the heavy lifting from a development perspective) of the product are being performed by people.● Smoke Tests – An advertisement with no product attached to it. Customers can preorder a product that has not been built yet. This is a very useful way to test whether customers are interested in buying a product or not.

- Source: Eric Ries


● Discuss and write down your most important hypotheses● Come up with ways to test those hypotheses● What are the pass / fail signals (e.g. at what point would you say that your hypotheses was / wasn´t correct)?

Major assumptions are usually related to:● Value proposition:

●Does customers really have a significant problem? ●Does our idea really solve it in a way that they would

pay us for?● Customer segment:

● Is there critical amount of potential customers available?

How to test? Your action plan


How to test (just some hints):

● Prototype – Build a demo device or offer a temporary service.● The Video – A basic video presentation describing features and even demonstrating an early prototype. ● The Wizard of Oz Test – In this test, the customer interacts with a “skin” of the product, but the functions (the heavy lifting from a development perspective) of the product are being performed by people.● Smoke Tests – An advertisement with no product attached to it. Customers can preorder a product that has not been built yet. This is a very useful way to test whether customers are interested in buying a product or not.

- Source: Eric Ries


● Don’t stress about your presentation. Your demo or slide deck doesn’t matter as much as you think it does.● Have a good elevator pitch (=problem, solution, advantage). If you can’t communicate what you do in 10-20 seconds or less then you don´t understand it enough yet.● Start with your elevator pitch first and include credibility factors early in your pitch. ● Give also overview about your core assumptions and how you are going to test those.

Pitching & homework


Write it down and leave to organisers (with your contacts on it). Before next event: run your tests and arrive at a conclusions.

Date post:	05-Aug-2015
Category:	Education
Upload:	neitsijaerve-loovusait
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