This course leads people with good ideas through a process that helps them shaping, validating, and communicating their idea to enable them to create value for the targeted customers and themselves. Whether the only support needed is from buying customers or if attracting funding, suppliers, team members and advisors is needed, success depends on two things: Having a good story and telling it well for the relevant audience.
A disappointing reality for many inventors and entrepreneurs is that theri ideas DO NOT sell themselves. And when the idea person cannot sell them either, the innovation just simply does not happen. A staggering reality is that no more than 5 % of all patents issued in the US ever result in enough business to even pay for the cost of acquiring them. This is a tragedy for the inventors and for the society that has to do without the advantages that should have been brought to them.
Based 25 years of innovation as an inventor and innovation business leader in high growth chemical and materials firms as well as another 15 years coaching entrepreneurs from across a broad range of technology and main street sectors, this course gives you the tools needed to make innovation happen.
- If you have strong ideas, high degree of passion and most importantly, an inexhaustible supply of grit, you have what it takes to make innovative things happen. This course only assumes you can read, you can listen and you bring the above raw materials. If you know how to use basic computer tools like PowerPoint, can create an excel spreadsheet and have basic arithmetic skills, you have all you need. If not, you should find a partner you can infect with your passion who has these basic skills and do it together.
The learning in this course is all achieved in a learn-by-doing mode. Most people are certainly glad they learn these things, but even more excited that they actually did the things they needed to do to make their idea into a reality. The course is in 7 sections with the following key learning / doing elements:
- Clearly communicating the essence of your idea for creating value. Here you will learn the power and techniques for creating a great 30-second speech
- Proving to yourself and others that you are aligned with significant, paying customer needs. This includes assessment of potential customers with tools such as a Customer Pain map and Customer value chains
- Crafting a strategic pathway that has the best chance of sustaining itself through all the steps you need to take to win big in the marketplace. You will learn how to create this map and find dead ends that need to be fixed
- Translating your strategies into goals and plans you can execute on, at least to see if they work. The ability to reformulate on the fly is a skill you gain by learning how all the pieces depend on each other, and consequently being quick to reformulate
- Designing your business model and operational approach to maximize your ability to first survive and then thrive. Tools we introduce here show you how to avoid overlooking a simpler, or more productive approach than you had been aware of
- Translating your plans into their financial versions. Every decision you make, even tentatively, has a financial implication. Here we help you define those implications (some creating revenues, and other creating costs) put all those in one place so you can see what your need for funding is and which things will be most problematic if they go wrong
- Turning this into a story that sounds as good when you say it out loud as it does in you head. Once you are at this point you will deeply own your material, but need help figuring out how to shape it every time you tell it, depending on who you are talking to, because they all have different assumptions and biases