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Introduction

More or less business average

• Where does innovation come from?

  • R&D Facility

  • Insight (from leader)

  • Partnership (colleagues, partners, clients)

  • Vision (Steve Jobs example)

  • Asking questions

    • Status Quo

  • Through iterations

  • Work of other

    • Keep your mind open

How to drive an innovation

• What product
• Whom to sell

Innovation Portfolio Matrix

Definitions

Innovation

• Developing a new solution or way of doing smthg that drives differentiation and creates measurable value

Enterpreneurship

• Pursuing opportunities - often but not always based on innovation - without regard to the resources directly and currently controlled

Innovation/Invetion/Ideas/Enterpreneurship

• Some of enterpreneurship contains all attributes
  

Why innovation so important?

100+ “Unicorns"

Fortune 500 firm

• 1920: 67 years, today: 15 years

Drives growth in companies & economies

Attracts & retains talent

If you don’t innovate, your competitors will

Customer Interviews

Principles

• People are lying! (people tell us what we want to hear, if you ask the wrong questions)

• Talk about their life instead of your idea

• Ask about specifics in the past

• Listen!

• Don’t sell!

Right direction (Learn to Launch)

Define

• Opprortunity

• Vision & Values

• Team

Learn

• Customer Discovery

• Prototypes

• Product/Market fit

Launch

• Products/MVP

• Biz/Financial Models

• Organization & Legal

Accelerate

• Resources: $$ & People

• Go-to-Market

• Scale Operations

Entrepreneurial Sets

Toolset

• Customer Lifecycle

• Persona

  • Fictional character who represents your target stakeholder

    • name

    • picture

    • demographics

• Business Models

  • How you make your money with your business?

Skillset

• Customer Discovery

  • Problem to solve

• Design Thinking & Rapid Prototyping

• Pricing
  

• Presentation

Mindset

• 10 Traits of Entrepreneur

  • Bias to Action

  • Welcome & Create Change

  • Focus on What Really Matters

  • Optimistic

  • Resourceful

  • Failure-Savvy

  • Resilient

  • Intensely Curious

  • Know your Customer

  • Ask for forgiveness not permissions

  • An entrepreneur is anyone who takes on a task without having all of the resources necessary to accomplish that task available at the outset.

• Failure (the other “F” word)

  • Success rate
    

  • SNAFU

    • situation normal: all fucked up

  • Failure value cycle

    • How to recognize failure ASAP

    • Where failure is not an option? - select this option

    • What is your portfolio of failure zones?

    • Failure is simply an opportunity to begin again. This time, more intelligently. © Henry Ford

• Pivoting

  • “Your screw up became my startup…”

    • “and my start-up will screw up before it growts up!”

Market & Customers

Pivoting must be

• As you develop an innovative business, now how you can fine tune the market you adress

• How are you going to address that particular market?

• Plan an iterations

  • For pivoting

Startup

Temporary organization designed to search for a repeatable & scalable business model © Steve Blank, 2012

• Goal of a Startup
  • TGDIYCMN (Total global domination in your chosen market niche)
• Advantage
  • Speed of learning
  • Flexibility in strategy
  • Speed of execution
• Common Mistakes
  • Full Scale Roll Out
    • Webvan example
      4.8$ on IPO, but sales only 350k$, and 50$ Mio losses
  • China Syndrome (only for some customers)
  • Selling to everyone everywhere
    • Breeze
      You have to be focus to
  • Selling to one customer

1. Market Segmentation

• What to do?

  • Brainstorming with sticky notes win all potential markets

  • Get market data

  • Communicate with other responsible person to understand your market

    • LinkedIn

  • To find the market segment

• Market segment definition

  • Customers within the market all buy similar products

    • repeatable

  • Customers have similar sales cycle and expects products to provide value in similar ways, so sales process is scalable

    • scalable

  • There is “word of mouth” between customers in the market, so they can serve as compelling and high-value references for each other in maker

    • to get marketing agents

2. TAM-SAM-SOM

• What is it?

  • TAM = Total Addressable Market

    • How big at the end can become

  • SAM = Serviceable Addressable Market

    • Limited for the next few years

  • SOM = Serviceable Obtainable Market

    • What your market share can be?

    • Realistic

• Per segmentation you have different percent of TAM>SAM>SOM

  • Choose the

3. Multi-criteria

• Different criteria - Column

• Segment

  • • Buyer reason

• Criteria

  • Size of market

  • customers

  • Access to decision making unit (DMU)

  • Innovation speed market

  • Your love for the market

  • MVP potential

  • Customer Pain?

• Innovation curve
  

  • Innovators (2%)
  • Early adopters (14%)
  • Early/Late majority (34%)
  • Laggards (16%)

• Beachhead Market

  • Your first entry into the market (TGDIYCMN)

  • Small enough to become a significant player

  • Big enough to generate some cash