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IDEATION, INNOVATION, AND CREATIVITY

Ideation/ Where to get ideas

Gap analysis/ Developing an idea

Great Business idea/ Evaluating an idea

Protecting your idea/ Confidentiality Agreements

Patents/ Trademark/ copyrights

Entreprenuerial Creativity and Obstacles

Innovation concept
Impacts to innovation

Organizational motivation to innovate


What is ideation?
Ideation represents the
creative process of
generating, developing, and
communicating new ideas,
where an idea is understood
as a basic element of
thought that can be either
visual, concrete, or abstract
[1]. As such, it is an
essential part of the design
process, both in education
and practice[2].
Business begins with
IDEATION.
IDEATION should be
the first investment
of anybody who
seeks to be an
entrepreneur.
The single most
important activity or
any entrepreneur or
small business
manager is to Ideas are the
generate business fuel of any
enduring
ideas. brand
WHERE TO GET IDEAS?

SOOOOOOOOO
MANY AVENUES!!!
Another means
of finding
business ideas

GAP ANALYSIS
WHAT IS AN IDEA THAT IS
WORTH A BUSINESS?

One that has


market now
and in the
future
Totally Stupid Online Business Ideas
That Made Someone Rich

Million Dollar Homepage


1000000 pixels, charge a dollar
per pixel thats perhaps the
dumbest idea for online business
anyone could have possible come
up with. Still, Alex Tew, a 21-year-
old who came up with the idea, is
now a millionaire.
Totally Stupid Online Business Ideas
That Made Someone Rich

LaserMonks
LaserMonks.com is a for-profit
subsidiary of the Cistercian Abbey
of Our Lady of Spring Bank, an
eight-monk monastery in the hills
of Monroe County, 90 miles
northwest of Madison. Yeah, real
monks refilling your cartridges.
Hallelujah! Their 2005 sales were
$2.5 million! Praise the Lord.
Totally Stupid Online Business Ideas
That Made Someone Rich

PositivesDating.Com
How would you like to go on a
date with an HIV positive person?
Paul Graves and Brandon Koechlin
thought that someone would, so
they created a dating site for HIV
positive folks last year. Projected
2006 sales are $110,000, and the
two hope to have 50,000
members by their two-year mark.
Totally Stupid Online Business Ideas
That Made Someone Rich

SantaMail
Ok, hows that for a brilliant idea.
Get a postal address at North Pole,
Alaska, pretend you are Santa
Claus and charge parents 10 bucks
for every letter you send to their
kids? Well, Byron Reese sent over
200000 letters since the start of
the business in 2001, which makes
him a couple million dollars richer.
DEVELOPING AN IDEA

Recognizing a need
Improving an existing product
Recognizing trend
Be aware of everything
Questioning assumptions
Identifying or naming it first, then
develop it
EVALUATING
AN

IDEA
Is Your Great Idea A Real Business?
Christopher Steiner, 06.11.10, 06:30 PM

Twelve questions to help you


separate the merely clever from the
ideas that stand a true chance of
succeeding.

To sift out true business opportunities


from the sand of merely bright ideas,
would-be entrepreneurs can ask a
series of questions.
Twelve Questions To Test If It's A
Real Business
1. Are you filling a void?
A clever idea is nothing more than a
science project if nobody actually
needs the resultant product. "You
have to determine that there's
something actually missing to a
specific market--something you're
going to supply," says Tom Lane,
founder of Propertyroom.com, an
auction site for recovered and seized
items sitting in backrooms of police
departments.
2. Does the idea pass a live-
fire test?
Many ideas lend themselves to an easy
litmus test to determine if they'd be
needed or popular. A newfangled baked
good, for instance, could be tested at a
farmer's market before being pitched
to retailers. If the sweet concoction
doesn't sell at all to the market crowd,
the product may need to be
reexamined before getting pushed in
bigger ponds.
3. Do industry experts hate your

idea? Good.

Just because so-called experts hate an idea doesn't


mean it's bad. It can often prove to be a good
thing. Entrenched players often don't see the
harbingers of change until it's too late. "Industry
experts, by definition, are often steeped in the
orthodoxies of the industry; therefore they are
also more likely to underestimate the importance
of a novel business model or innovation coming
from outside their industry," says Eric Noyes, a
professor at the Arthur M. Blank Center for
Entrepreneurship at Babson College.
4. Does the idea have
shelf life?

Are there pending, sweeping changes in


technology that could render your idea
moot? Companies not on guard for
changes in technology can be swept away
while competitors move ahead, says
Matthew Ammirati, president of Ammirati,
a Manhattan advertising agency.
Advertising agencies that didn't embrace
social media as it emerged several years
ago, for instance, are still struggling to
catch up.
5. High barrier to entry?

The best ideas have high barriers to


entry, says Kanchana Raman, CEO of
Avion Systems, a telecommunications
company. If an idea is good but not
patentable, bigger competition could
overrun you overnight.
6. Is the idea scalable?
The best business ideas incorporate plans
that can be replicated and easily taught
so they don't require the founder to be the
business all on his or her own, says Susan
Wilson Solovic, CEO of SBTV.com, a St.
Louis-based online network focusing on
small business. "If you are the business all
alone, then you really haven't started a
business, you've just created a job for
yourself."
7. Can the idea be priced
attractively?

Many daydreamers with good ideas


don't run the numbers to determine if
their bright insight can be offered to
the market at a price the market is
willing to pay. "There may be a reason
why nobody else is already doing what
you're thinking about--they can't make
any money doing it," explains Solovic.
8. How much funding will
the idea need?
Financing has rarely been easy for entrepreneurs; today's tight
market makes things even worse. Many business ideas initially
get backed by the founder's own money with contributions
from family and friends. When it comes to specific ideas,
entrepreneurs have to ask themselves, "How much money do
you truly need to get the business off the ground?" says
Solovic. If the idea will take colossal VC funding, it may be
more expedient to examine business ideas with lower budgets.
9. How large is the
market for the idea?

If a business plan requires that you


sell to 60% of a potential market in
order to make a profit, then the idea
isn't realistic. Better business ideas
can achieve profits by attaining a
smaller market share of 5% to 10%.
10. Is the idea truly a stand-alone
business, or is it an add-on
feature?

It's easy for an entrepreneur to mistake a


feature for a solid company idea. Many
good ideas can be useful to businesses
that already exist--for instance, a feature
addition for a program such as Windows or
Photoshop, but don't make for a business
by themselves. "A cupholder for minivans
does not beget a company," says Dave
Kellogg, CEO of Mark Logic, a Sequoia
Capital-backed database software
company in San Carlos, Calif.
11. If it weren't your
idea, would you put
money into it?

This is a simple question and an


important litmus test, says Michael
Bechara, managing director of Granite
Consulting Group, which advises its
clients on corporate governance and
risk. "If a stranger pitched this idea to
you, how likely would it be that you'd
buy in?"
12. Can you pitch your idea
as a business in 20 seconds
or less?

James W. Klingler, a professor at


Villanova's Center for Innovation,
Creativity and Entrepreneurship,
makes students hone their ideas and
explain their pitches again and again.
Many entrepreneurs, he says, never
reach an elite level of clarity in
explaining why their idea is a great
business. "If there isn't a good
elevator pitch, there isn't a real
opportunity," Klingler says.
PROTECTING YOUR
IDEA
PROTECTING YOUR
IDEA

COPYRIGHT LAW

FULL IMPLEMENTATION
OF IP
Other means of protecting an
idea
Record ideas, taking notes, diary
Secure notes (safety place)
Take note of phone calls, record
conversations, including date and time,
keep copy of the bill & journal
Send data thru certified couriers
CONFIDENTIALITY AGREEMENT
When is this
necessary?
While initial research and evaluation is going on
When you are manufacturing it or presenting to
companies to get it licensed
When it has reached the point of dealing with an investor
PATENTS
A patent is a right granted for any device,
substance, method, process which is new
inventive and useful. Patents are legally
enforceable and gives the owner the
exclusive right to commercially exploit
the invention for the life of the patent.
The innovation patent is a protection
option which is designed to protect
inventions that are not sufficiently
inventive.
PATENT

Example: The Ipod range is protected under a


patent.
The value of patenting and
licensing
The principal reason is not to protect
your idea or product from being ripped
off, though thats the nice side benefits
The real reason is that
no company is going to
pay you royalty on idea
that is not legally
protected.
Patent pending

Status of patent application


Review stage at the patent
office
Product already sold in the
market marked as patent
pending
TRADEMARKS
A trademark can be a letter, number, word,
phrase, sounds, smell, slogan, logo, picture,
aspect of packaging or any combination of these.
Trademarks are used to distinguish goods and
services of one trade from those of another. You
dont have to register your trade mark to use it,
however registration is advisable because it can
be an expensive and time consuming exercise to
take action under common law.
A registered trade mark gives you exclusive legal
rights to use, license or sell it within your country
(laws vary within countries) for the goods and
services for which it is registered.
TRADEMARK

Example: Cadbury Schweppes have a trademark


on their specific purple color
Registered Design
refers to the
configuration,
pattern, or
ornamentation which
when applied to a
product gives the
product a unique
appearance. You can
register a design but Example: The Coca Cola
bottle, even without any text
it must be new and or branding was recently
distinctive. registered in Japan being the
first of its kind.
COPYRIGHTS
Protects the creative work of
composers, authors, writers,
artists, filmmakers, and others.

Endures during the lifetime of


the creator and for 50 yrs after
his death
COPYRIGHT

Example:
The specific
character,
and
material
relating to
Batman is
protected
under
copyright
ENTREPRENUERIAL CREATIVITY

technical,
COMPONENTS OF CREATIVITY
procedural & how flexibly and
intellectual more
knowledge imaginatively
people approach
Creative problems
Expertise Thinking
IT IS ABOUT
Skills
COMING UP Creativity
WITH
INNOVATIVE
IDEAS AND
CONVERTING
THEM INTO
VALUE-
CREATING Motivation
PROFITABLE
BUSINESS intrinsic is more
ACTIVITIES effective than
extrinsic
Environmental stimulants to
creativity
Freedom
Good project management
Sufficient resources
Encouragement
Various organizational characteristics
Recognition
Sufficient time
Challenge
Pressure
Outside organization
Environmental obstacles to
creativity
Various organizational characteristics
Constraint
Organizational disinterest
Poor project management
Evaluation
Insufficient resources
Time pressure
Overemphasis on status quo
Competition
The concept of
INNOVATION
Doing
something
different

Innovation is a
process of
taking new
ideas to
satisfied
Effecting a new
policy
Finding new
opportunities
Designing a new
structure
Devising a fresh
method
Lamp-Proxima-Futuristic-Car
New-Innovative-Architectural-
Balenciaga-Shoes.jpg
dutchess-county-guest-house-
wooden-matrials
Modern Loft
Notebook-Acer-Aspire-
AS8940G-6865
coffee-machine-design-
technology
Organizational
motivation to
innovate
Innovation Lessons
Innovation lessons from
Pixar: An interview with
Oscar-winning director Brad
Bird

What does stimulating the


creativity of animators have in
common with developing new product
ideas or technology breakthroughs? A
lot.
Background
McKinsey & Companyis a global
management consultingfirm that focuses on
solving issues of concern tosenior management
. McKinsey serves as an adviser to the worlds
leading businesses, governments, and
institutions. It is widely recognized as a leader
and one of the most prestigious firms in the
management consulting industry.[3]It has been
ranked No.1 for 6 consecutive years in the
Vault.comlist of top consulting firms,[4]and has
been a top employer for newMBAgraduates
since 1996.[5]
If theres one thing successful innovators have shown
over the years, its that great ideas come from
unexpected places. Who could have predicted that
bicycle mechanics would develop the airplane or that
the US Department of Defense would give rise to a
freewheeling communications platform like the Internet?

Senior executives looking for ideas about how to make


their companies more innovative can also seek
inspiration in surprising sources. Exhibit One: Brad Bird,
Pixars two-time Oscar-winning director. Birds hands-on
approach to fostering creativity among animators holds
powerful lessons for any executive hoping to nurture
innovation in teams and organizations.

McKinsey & Company


Brad Bird

Bird at the Venice Film Festival, September 2009

Phillip Bradley Bird


Born September 11, 1957 ) (age52)
Kalispell, Montana, U.S.
Actor
Animator
Occupation
Film director
Screenwriter
Years active 1979present
Spouse(s) Elizabeth Canney (1988-present)
THANK YOU!!!