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Idea Generation

This document provides an overview of idea generation and entrepreneurship. It discusses various techniques for generating new business ideas such as brainstorming, mind mapping, lateral thinking, and problem solving. It also covers developing a business plan, conducting market research, designing marketing strategies, and creating advertisements. The key points are that idea generation requires creativity, exploring customer needs, and thinking outside the box, while entrepreneurship involves planning, testing ideas, and promoting products or services through the four P's of marketing.

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SriMuruganK
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175 views

Idea Generation

This document provides an overview of idea generation and entrepreneurship. It discusses various techniques for generating new business ideas such as brainstorming, mind mapping, lateral thinking, and problem solving. It also covers developing a business plan, conducting market research, designing marketing strategies, and creating advertisements. The key points are that idea generation requires creativity, exploring customer needs, and thinking outside the box, while entrepreneurship involves planning, testing ideas, and promoting products or services through the four P's of marketing.

Uploaded by

SriMuruganK
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 69

Caroline McHale Caroline McHale

November2009 November2009
Enterprise: Starting your own Business

Business opportunities
Business opportunities
are like buses, theres
are like buses, theres
always another one
always another one
coming.
coming.
Richard Branson, Founder, Virgin Enterprises
Richard Branson, Founder, Virgin Enterprises
Idea Generation
Idea Generation
Where do I begin?
Idea Generation
Fun
95% perspiration and 5% inspiration
Idea Generation
Idea Generation
Logical Intuitive
Components Random
Sequences Images
Reading Colour
Writing Music
Listening Creativity
Left Brain / Right Brain
Idea Generation
Both
5% of adults over the age of 2 !ears
"onsider the#selves to be $%reative&'
95% of "hildren bet(een the ages of 5 and
) !ears e*hibit a strong tenden"! to(ards
"reativit!'
Idea Generation
Creative Thinking
I#agination is the fuel for "reativit!'
Thinking utside the !o"#
Thinking utside the !o"#
Inside the !o"#
Inside the !o"#


+r! this e*er"ise'
What is half of )?
Idea Generation
Both
+r! this e*er"ise'
Ideas $ote%ook
Ideas $ote%ook
Re"ord unusual or interesting ideas'
Camera&'olders&etc
Ideas $ote%ook
Ideas $ote%ook
,l(a!s "arr! an ideas noteboo-'
Words/.i"tures/.hotographs
/ate ideas
Re0visit and e*a#ine
1n"ourage an $idea a (ee-/#onth&
((()northconnaughtidea)ie

*aperclip Challenge
*aperclip Challenge
2o( #an! uses for a paper"lip?
Individual
Group
+he abilit! to generate ideas "o#es fro#
intuition3 but is a#plified b! e*perien"e4
1*er"ise !our i#agination
%reate a false "risis4444
Idea Generation
+veryone can search 'or and 'ind
+veryone can search 'or and 'ind
ideas)
ideas)
+he bi"!"le t!re 0 5et
+he Frisbee 0 Ba-er
%ornfla-es 0 Far#er
There is no magical 'ormula,)
There is no magical 'ormula,)
+hin- in ne( (a!s66''
,sso"iate things that don&t have an obvious lin-6''
Find ne( uses for old things66'
,nal!se (h! so#ething is not (or-ing66
Find solutions for "onsu#er proble#s66
Identif! a ni"he #ar-et66''

There is no magical 'ormula,)
There is no magical 'ormula,)
Re"ognise "hanges in "onsu#er tastes66'
,nal!se the failures of others6''
,ppl! ne( te"hnologies in ne( (a!s6
+r! so#ething different6Food
Wat"h a +5 sho( !ou don&t nor#all! (at"h6'
Strategies
Strategies
Brainstor#ing
Brain (riting
7atri*/ 8"a#per/ .1.
7ind 7aps
.roble# 8olving
Lateral / %reative thin-ing
Brainstor#ing
Brainstor#ing
A poorly planned brainstorming session could cause more A poorly planned brainstorming session could cause more
harm than good. harm than good.
8harpen the Fo"us
8tri"t rules
8tart (ith a nu#ber
8tages for a fa"ilitator 8tart0 #iddle0 end
8pa"e for ideas
8tret"h !our #ental #us"les
8ho( and tell
Idea Generation
Brain (riting
Brain (riting
Ideas are (ritten
Individual
.air (or-
Group (or-
5ariations'
Idea Generation
Idea Generation
Substitute
Combine
Adapt
Modify
Put to other
uses
Eliminate
Reverse
Samper ! Produt
7atri*
7atri*
Features9 %olour
8i:e
Gift
7ar-ets9 Babies
%o##union
Religious
1lderl!
2o#eo(ners
Idea Generation


7atri*
7atri*
Idea Generation
'eatures
markets
colour si-e gi't personal
in'ants
elderly
Christmas
other
*+* approach
*+* approach
.re 0 1*perien"e
1*perien"e
.ost 0 1*perien"e
What "ould #a-e life easier for people (hen
brushing their teeth?
Idea Generation
Mind Map
Mind Map
8late
Mind Map
Mind Map
8late
*ro%lem Solving
*ro%lem Solving
.roble#s #ean opportunities
7an! a good idea has "o#e fro# finding a
solution to a proble#'
What "auses the .roble#?
.+hin- Ba"-(ards
.+hin- Bigger
.+hin- s#aller
Steps in *ro%lem Solving
Steps in *ro%lem Solving
%he"- the fa"ts
What is "ausing the .roble#?
Identif! 8olutions
.rioritise the Ideal solution
I#ple#ent
1valuate
*ro%lem Solving
*ro%lem Solving
8hift fo"us
7a-e it unne"essar!
Redu"e the proble#
8ubstitute
Idea Generation
+raffi" %ongestion
*ro%lem Solving
*ro%lem Solving
8tain Re#over
Burglar ,lar#
8hopping trolle!
8pra! 8tar"h
Fast Food
Idea Generation
Lateral Thinking,,)
Lateral Thinking,,)
1n"ourage students to
Be adventurous
/
+a-e ne( paths 6'not the logi"al /
obvious "hoi"e
Idea Generation
Lateral Thinking,,)
Lateral Thinking,,)
Garages
Billboards
%risps
;rgani" food

Idea Generation
8"arf6666'
/evelop a ne( idea
%op! an idea
,lter an idea
Bu! a business

Idea Generation
*roduct Li'e Cycle
*roduct Li'e Cycle
Introdu"tion
Gro(th
7aturit!
8aturation
/e"line
Idea Generation
*roduct Li'e Cycle
*roduct Li'e Cycle
Idea Generation
Introduction Gro(th maturity Saturation 0ecline
+ I 7 1
8
,
L
1
8

+he tri"- is to provide so#ething that enough


people (ant'
Loo- around6666
%an !ou identif! needs?

Idea Generation
<eeds and Wants
ther ideas,,))
ther ideas,,))
1vents
%raft Fair
%ar boot sales
Bu! and sell
Lo"al 7ar-ets
Lifest!les
Food
Idea Generation
Idea Generation
%o#e to a road blo"- ensure to ta-e a detour
Idea Generation
+han- =ou
,n! Interesting Ideas4
www.sligoenterprise.ie
www.startingabusinessinireland.com
((()%asis)ie
((()%asis)ie
((()eoy)tv
((()eoy)tv
((()cro)ie
((()cro)ie
Eploring Enterprise
Eploring Enterprise
! teaching and learning
! teaching and learning
resource
resource
, +!pi"al Lesson
, +!pi"al Lesson
1. Engage the learner
2. Teach for understanding
3. Stimulate Recall
7ethodologies >
7ethodologies >
Resour"es
Resour"es

Individual Work
Pair Work
Group Work
Discussion
Brainstormin
Case !tudies
Pro"ect Work
Presentations
#sin IC$
CD %&M!
%evie' ( )valuation
!trateies
*uestionin
Works+eets
Matc+in ),ercises
P+otos
Ne'spapers
Maa-ines
D.D
%esource Packs
$e,tbooks
Wall C+arts/Posters
Mind maps
What do !ou understand
What do !ou understand
b! the ter#
b! the ter#
$1ntrepreneur&?
$1ntrepreneur&?
!re these people enterprising"
!re these people enterprising"
Enterprising #kills $ %ualities
Enterprising #kills $ %ualities
#kills
. *lanning 1 Goal Setting
. Innovation
. 0ecision Making
. Communication
. 2uman Relations Management
. 0elegation
. Motivation
. Leadership
. 3ssessing and Managing Risk
. Time Management
. Stress Management
. Reality *erception
. $et(orking
%ualities
. 0ecisive
. Good Leader
. 2ighly motivated
. Independent
. +nergetic
. Good communicator
. 4le"i%le
. *ositive sel' image
. Sel' 5 con'ident
. pportunistic
. Innovative 1 Creative
. *ersistent
. 0etermined
. 2ard (orking
. Seeks challenge
&he Business 'lan
&he Business 'lan
!
u
s
in
e
s
s

*
la
n

! (ailed business did not plan


! (ailed business did not plan
to (ail ) it (ailed to plan
to (ail ) it (ailed to plan
Business 'lanning
Elements o( a Business
Elements o( a Business
'lan
'lan
.
!usiness 0escription
.
*ersonnel
.
Marketing
.
*roduction
.
3dvertising
.
4inance
B
u
s
in
e
s
s

.
la
n
*hat is a Business 'lan"
*hat is a Business 'lan"
It is a written document which sets out the
following:
.
Who is setting up the enterprise
.
What is the product&service
.
2o( it is going to %e produced and promoted
.
Where it is going to %e sold
.
Where the 'inance (ill come 'rom
Business 'lans ) *hy"
Business 'lans ) *hy"

It states the goals and o%6ectives o' the %usiness


and ho( these are to %e achieved

It helps an entrepreneur think through their ideas


and anticipate possi%le challenges and ho( to
overcome them

It is required %y 'inancial institutions7 county


enterprise %oards etc

It sets targets against (hich to measure the actual


per'ormance o' the %usiness
+arket Research ) *hy"
+arket Research ) *hy"
.
To determine i' there is a 8gap9 or 8niche9 in the market
.
To esta%lish customer needs and to help produce
goods&services that meet that need
.
To reduce the risk o' 'ailure and loss o' money
.
To identi'y the type o' people likely to %uy the
product&service
.
To determine the strengths and (eaknesses o' the
competition
.
To test consumer reaction to a ne( product&service
.
To provide management (ith in'ormation (hich is
needed to make important marketing and production
decisions
&ypes o( +arket Research
&ypes o( +arket Research
0esk Research
Central Statistics ''ice
Government 0epartments
Cham%ers o' Commerce
Internet
Trade :ournals
Maga-ines
$e(spapers
Golden *ages
County +nterprise !oards
4ield Research
;uestionnaires
*ersonal Intervie(s
Sampling
%servation
Consumer *anels
4ocus Groups
Retail 3udits
%uestionnaires
%uestionnaires
.
What is a questionnaire<
.
0esigning a questionnaire
.
Types o' questions
.
Resources 'or compiling
questionnaires
/esigning a ?uestionnaire
/esigning a ?uestionnaire
.
Select only the most relevant questions
.
;uestions should %e (orded care'ully) =eep the
language clear and simple
.
Take the length o' the questionnaire into consideration
>?@ questions< ?A<B
.
;uestions should %e easy to complete
.
Cse a mi" o' di''erent questions
.
Test the questionnaire (ith a small group
.
3dminister the questionnaire
.
Gather and collate the results
.
3nalyse the results
.
Make decisions
&ypes o( %uestions
&ypes o( %uestions
.
Closed ;uestion
.
Multiple Choice ;uestion
.
pen +nded ;uestion
*hat is the +arketing
*hat is the +arketing
+i"
+i"

The Marketing Mix is ensuring the
4ps .product, price, place and
promotion (packaging) correct in
order to successfully sell the
product or service
The Marketing Mix is a blend of
different ingredients. ach
ingredient in the mix does not
remain separate, but blends !ith
the others
&he +arketing +i
&he +arketing +i
.
*roduct
.
*rice
.
*lace
.
*romotion
.
*ackaging
!d,ertising
!d,ertising

f all our in!entions for mass
communication" pictures still spea# the
most uni!ersall$ understood language.%
Walt 0isney
Being in business without ad,ertising your
presence is like winking in the dark ) you
know what youre doing, but nobody else
does
&rod$ Sweene$" ' &rien's Sandwich &ar
Do 0ou kno'
t+e "inle1
%elebrit! Fa"tor 0 Branding
%elebrit! Fa"tor 0 Branding

@ni?ue 8elling .oint [email protected]
@ni?ue 8elling .oint [email protected]
-n order to be irreplaceable, one must
always be di((erent.
.oco .hanel
.
Make sure your product&service (ill appeal to
the customer) Dour product &service must %e
di''erent to that o' your rivals)
*/!& -# 012R 2#'"
Thank you for your
observations and contribution
during the day.
Please complete and return the
evaluation forms being
distributed.
Caroline
$+ank
0ou

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