A chat about finding and validating opportunities for products for a session at #IDEAchat, part of Global Entrepreneurship Week.

1. Innovation in product development:
A chat about finding and validating
opportunities for products
Prepared by: James Torio
Oct 22, 2013

2. A couple of ways to
generate ideas for products

3. Customer
Driven

4. Technology Driven

5. Observe the customers journey for
opportunities to innovate
https://uxmag.com/articles/experience-maps-identify-inefficiencies-and-opportunities

6. "Take a human desire, preferably one
that has been around for a really long
time . . . identify that desire and use
modern technology to take out steps.”
EV WILLIAMS,
COFOUNDER OF BLOGGER, TWITTER, AND MEDIUM.

7. Thoughts?

8. A couple of ways to test
your ideas

9. Opportunity Assessments – Do I have a problem worth solving?
•
Who are we solving the problem for? (target market)
•
What problem are we solving? (top 3 problems)
•
What alternatives are out there (competitive landscape)
•
What is our value proposition? (why are you different and worth paying attention to?)
•
What factors are critical to success? (solution requirements)
•
How will we measure success? (business metrics)
•
How big is the opportunity? (market size)
•
Why now? (market window)
•
How will we launch this product? (go to market strategy)
• Why are we best suited to pursue this? (our differentiator)
• What are the revenue streams? ()
• What is the cost structure? ()
9

10. Thoughts?

11. Hypotheses Driven
Test
Pivot
Hypotheses
Test
Build
Measure
Pivot
11

12. Learn as quickly as possible, As often as possible,
For as cheaply as possible
1
2

13. Speed = More iterations = More learning
1
3

14. Test without building a product
1
4

15. Minimal viable product : for people to want to
use it
1
5

16. Thoughts?

17. Thank you