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Mark TayarSept, 15, 2010

HireMarks.com

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Todays ObjectivesLearn and use six brainstorming techniques

Critically review business ideas

Cast some business ideas into the world2

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My Fishing Lines6 web businesses

Canberra TutoreLearning DesignBusiness CatalystiSplit.com.auEntrepreneur EventsBusiness Idea Brainstorm

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Brainstorming should have structure:

Withhold judgement (for now)Failure is not a concernThere are no bad ideasThere are no resource constraintsDont worry if its been done beforeCarte Blanche Brainstorming4

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Pick an everyday objectCreate a business using that object by:Selling the object in a unique wayFinding a new use for the objectUsing the object as part of a new invention

Object-Focused Brainstorming5

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Pick a problem you or your friends faceCreate a business that solves this problem by:Defining the problem and its causesAddressing the problem with an ideaExplaining how it will make $$$ (revenue model) Problem-Focused Brainstorming6

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Pick a question that you or the world needs to answerMethodically search for answers by:Taking a long walkSleeping on itMind-mapping

Question-Focused Brainstorming7

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Choose an industry youre interested inIdentify top competitorsMap out how they perform on different aspects

Niche-Focused Brainstorming8

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Look at success in other marketsLook at failures in this marketCopy things not protected by IP rights

If all else fails: Plagiarise!9

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Copy what worksImprove what doesnt workIf IP rights are an issue, can you acquire or license the IP?Plagiarise!10

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Marks Pessimistic Ps11

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Pessimistic P: Problem12What Problem Does Your Idea Solve?

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Pessimistic P: Pain13How Painful is that Problem?

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Pessimistic P: Passion14How Passionate are you about this Problem?

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Pessimistic P: Punch Line15Does Your Idea have a Clear and Marketable Punch Line?

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Pessimistic P: Profit16Can Your Idea Make Money?

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What important problem can you solve? How valuable is your venture to the customer?How painful is the problem for the customer? (you need to change somebodys behaviour to buy your product or to useyour service)How many customers are there who are willing to buy from you?How many customers are there? (Market size)How many will buy from you? (Market share)Who will be your first customer (besides your Mum)?Who will be your 100th?Can your potential margins cover your expenses?Why can only you provide the solution?How are you unique?What do you provide that nobody else can?How can you defend against others?

17Criteria for Profit

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18Dont Let the Pessimism Harm Your Optimism

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Cast your fishing linesGet some energy and momentum behind ideasWork with people who have your weaknesses as their strengthsPromote the idea even in the early stagesProtect the idea but NDAs and Provisional Patents are pretty rubbish

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Thanks!

See you at: BusinessIdeaBrainstorm.com

Slides at:http://HireMarks.WordPress.com

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