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Idea Generation and Evaluation: Dalhia Mani Nsrcel

This document discusses techniques for idea generation and evaluating ideas. It begins by debunking some common myths about ideas, such as that good ideas always involve high technology or that external constraints always kill ideas. It then provides instructions for an idea generation exercise where participants draw random prompts to spark new business ideas. The document concludes by discussing frameworks for assessing the feasibility and value of opportunities. The key learnings are that ideas are plentiful, problems can inspire ideas, ideas improve through sharing, and evaluation considers market fit, doability, and profit potential.

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Sudhanyu Veldurthy
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69 views

Idea Generation and Evaluation: Dalhia Mani Nsrcel

This document discusses techniques for idea generation and evaluating ideas. It begins by debunking some common myths about ideas, such as that good ideas always involve high technology or that external constraints always kill ideas. It then provides instructions for an idea generation exercise where participants draw random prompts to spark new business ideas. The document concludes by discussing frameworks for assessing the feasibility and value of opportunities. The key learnings are that ideas are plentiful, problems can inspire ideas, ideas improve through sharing, and evaluation considers market fit, doability, and profit potential.

Uploaded by

Sudhanyu Veldurthy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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IDEA GENERATION

AND EVALUATION
Dalhia Mani
nsrcel
Myths
 Good Ideas usually involve high technology

K.KUMAR & Adam Grant


“Farmers get only 30% of the ultimate price of the crop sold”, Laxminarayan
Srinivasaiah, co-founder of Jivabhumi
CONTEXT:
Banks favor a wealthy clientele, to whom
they lend large sums and request
guarantees to hedge their risks.
Poorer population are excluded from this
systems which push them further into
poverty.

Grameen idea:
Become a bank for the poor; lend
small sums to group of people
enabling them to set up small
businesses and use social
pressure in place of guarantees.
10
Myth 2
Low cost models are less profitable
CONTEXT:
Poor customers with very small amounts in
their bank accounts are not a profitable
segment for banks.

NICKEL idea:
Provide a bank account at the
corner store : a basic account
opening, simple debit card, and no
overdraft options.
CONTEXT:
Cut hassle, cut cost of real estate

Beauty Bubble idea:


Offer an inexpensive haircut (no
shampoo) in convenient location. A
haircut takes 10 min, costs 10 € and
does not require an appointment.
22
Myth 3
External constraints kill ideas

K.KUMAR & Adam Grant


17
CONTEXT:
Local food, land for farming

BRIGHT FARMS idea:


Fresh produce from the
roof. Install hydroponic
(without soil) greenhouses
on roofs or near
supermarkets. 26
More Myths
 Ideas are scarce
 Ideas should not be shared or they will be stolen
 Brilliant people create brilliant ideas,
Which lead to success/fame/money
If I failed my idea must be stupid
So I must be stupid

K.KUMAR & Adam Grant


Thomas Edison’s creepy talking doll
..and his ghost busting machine
Nikola Tesla’s portable earthquake
maker
Myth busting……
 Good Ideas usually involve high technology
 Good Ideas often use existing technology
 External constraints kill ideas
 External constraints are breeding grounds for ideas
 Ideas are scarce
 Ideas should not be shared or they will be stolen
 Ideas are everywhere
 Ideas become better when shared
 Brilliant people create brilliant ideas
 Create 100 ideas and you will hit a few brilliant ones
 Brilliant ideas lead to success/fame/money
 If I failed my idea must be stupid
 If I failed, I must be stupid
 “Doing” leads to success/fame/money

K.KUMAR & Adam Grant


Snippets Idea generation exercise...
Created by Dalhia Mani, NSRCEL, IIMB*

*Acknowledgements: Saras Sarasvati’s newspaper clippings exercise and The Impact Game
Idea generation techniques
 Brainstorming: Don't put on your evaluating hat.
 Painstorming: Come up with a list of problems you
or those around you face, and that you think are
interesting to be solved.
 Hobbystorming: Think about your hobbies or
passions and use that as the source of your business
idea.
 Randomizing: Using random information/words/cues
to spur ideas
Idea generation exercise - Instructions
• Sit with your group
• Each group should collect a stack of 6 “snippets”
• You have 15 minutes to brainstorm and come up with a business idea
• Periodically (at say 5 minute intervals), pick a card randomly form your stack of
“snippets” and use that to spur new idea.
• As a group your task is to decide and state clearly
(a) Your startup’s name,
(b) The problem you are solving and why it is a big important problem
(c) your startup’s solution.
(d) pick one person in your group as your “CEO”
• When the buzzer rings at the 15th minute, stop and come back to your seats
Debrief
 How many ideas per group?
 Change in ideas?
 Where did the idea come from?
 How did you choose final idea?
Idea generation – Instructions for your
Pitch
 Randomly pick a few groups. CEOs of these
startups, please come to the front of the class.
 One volunteer to keep time.
 Each randomly picked group has 1 minute to pitch.
Volunteer will sound a buzzer at the 1 minute mark.
 Pitch your startup to us – state your startup’s name,
the problem you are solving, and the solution.
Instructions for the class
 Imagine you each had a chance to work with one of
these startups.
 You can only work in one.
 You have to pick one (no abstentions)
Assessing Opportunity Doability

Feasibility Value

Is it doable? Is it worth doing?


Financial Feasibility
Market Technical Feasibility
Market Feasibility
Can I do it? Do I want to do it?
Personal What will it take to do it? What turns me on about it?
Whom else do I need? Why do I want to do it?
Key Learnings
 Ideas are everywhere
 Problems/constraints are a great source of ideas
 Ideas don’t appear in a vacuum – Ideas are “You”
 Ideas change (improve?) in conversation
 Generating ideas is not hard
 Evaluating ideas based on:
 Isthere a market? How big?
 Doability. For me?
 Profitability/scalability/sustainability
References
 Suresh Bhagavatula, EM course Slides
 K. Kumar, EM Course Slides
 “Knowing a winning business idea when you see one,” W. Chan Kim and
Renee Mauborgne
 Odyssey 3.14, Laurence Lehman-Ortega and Helene Musikas

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