Workshop 2: Idea Generation and Evaluation Workshop:
Idea Generation Method #1
Why is it important to have objective?
- What do you want to do?
- A measure
- Are we there yet?
What type of objectives do we need - three ‘You’s’ in your objectives:
- My Team
- increase the size and capability of the mobile applications and content industry
- increase exports of mobile entertainment and applications produces
- Where do we want to be?
- What do we want to create?
- What do we want to achieve?
- What do we want to earn?
- What do we want to learn?
- What do we want for our families?
- What do we want others to do?
This has nothing to do with products or ideas
My Team’s Original Objectives:
1. To ‘get the vibe’ of mobile application product development – 20%
2. To ‘hang out’ with what’s current in the area of m-learning - 20%
3. To ‘ride the wave’ of a workable system, using m-learning principles – 80%
Our Team didn’t need to ‘compromise’ their objectives with the individual’s own objectives. We felt that our own objectives were all very similar, and included:
- achieve rich media multimodal delivery
- achieve delivery of content to mobile devices
- achieve engaging educational mobile platform
- to learn and grow
- to inspire others to achieve their potential
- to become competent in the process for developing mobile applications
- to get a ‘vibe’ for the state of mobile technology and applications
- to learn how to ‘surf and ride’ waves
- to improve my knowledge of mobile industries
- to become enthused and passionate about what to do again
- to find an interesting job that meets no 2 & no 1 if my learning meet no 2
- be really useful
- use my brains and talent
- travel and share above
The Art of Business in not ‘necessarily’ the same as the Art of War
Often it is better to come up with a consensus for the benefit of the team
Step 1: state the objective
Step 2: brainstorm – DO: speak up, expand on each other’s ideas, write down ideas; DON’T – evaluate, attach names, don’t say: ‘it won’t work’, ‘that’s a dumb idea’, ‘it will cost too much’
Step 3: prioritise: A = MUST DO, B = SHOULD DO, C = Could do later if we don’t have anything else going on.
Did each team get some ideas? Did you get some ‘A’ ideas? Use ‘red’ dots to vote which objectives our team should evaluate/investigate.
Rapid Evaluation Method
Health Warning: Not to be used as a basis for any form of financial analysis or business plan or even for borrowing from your mum or dad.
Back of the Envelope (BOTE) Exercise
Units x Price/Time = ____ units x $___ = $_____
Total Sales: $________
Total Costs: $_________
(Sales-Costs) /Sales = Your Gross Profit Margin > 40%? – “Graeme’s Margin”
Why 40% Gross Profit Margin?
Revenue = Sales
Production Costs 60%, therefore 40% Gross Profit need to over [General Selling and Admin 20%, R&D 5%, Net Profit 15%]
This activity will help you think about: How much do you think that you can sell? How much will the idea cost to produce?
When presenting your ideas….
- choose a spokesperson
- don’t contradict
- keep it simple
- tell a story
- solve a problem
- use an analogy
- and most importantly – keep if brief
Idea Generation Method #2
So.. we have an idea! – looking good – but have we missed something?
Think outside the BOX!
From the moment we are born we are building boundaries to creativity
Innocence: ‘you don’t know what’s not possible’ to ‘boundaries of reason’ – the problem: we can’t control these - how do you get outside the box? – chance, accident or mistake, madness – Provocation – we deliberately provoke our thoughts
So … We can provoke some creative thinking. Where does this creativity come from? Any thoughts?
Exercise in Provocation:
- take one of your ‘B’ or ‘C’ ideas from before and one of the cards from the deck (generated from a random word generator)
- Now start thinking of things you might be able to do with both of these together
- Write down all the ideas generated
Other ways of trying to ‘get outside the box’: visual, physical, comedy, pain/feeling, stimulants, anarchy, taste/smell/touch/hearing/see,
How others do it –
Che Metcalfe, Founder
Kukan Studio and Podmo mobile
- allow naivety to lead you
- don’t be constrained by what you ‘should’ do – just do want feels natural
- be market driven – what’s needed
More on Evaluation
What else do we need to evaluate? – can we do it? Is there a market? Match your objectives? Are there any Competitors? Development costs? Do we have the technology? Has someone already thought of it? Profit? What resources do we have?
- who else is doing this?
- Are they good at it? Why? Why not?
- Why would we be good at this?
- Can we sell it?
- Who needs it?
- Why do they need it?
- How much will they pay for it?
- What do we need to make this happen?
- Have we got it?
- Where, when, how can we get it?
- How much will it costs?
- Do we have the skills, structure, capital to be able to do this?
- Can we get it? What, where, when, how?
- Who do we know that has what we need? Or do we know someone who might know someone?
Group Presentation of our Team’s Idea:
Number of Sales ____over ___ years
Graeme’s Margin = ___ %
# 1 Competitive Advantage:
# 2 Competitive Advantage:
# 1 Resource Issue:
# 2 Resource Issue:
How does the idea make you feel?
What would your family and friends say about how you will feel about this idea?
How will you feel about this idea at various steps along the way? – development; pitch; launch; breakeven; growth; exiting
You will need to live and breathe this stuff, choose something that you are passionate about.
The Difficult Choice: When it gets difficult – go back your objectives; when that gets difficult – follow the money; and when that gets to difficult – follow your values