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E145 Session 2
Transcript of E145 Session 2
Technology Entrepreneurship Session #2: Creativity and Improvisation Professor Chuck Eesley
Stanford University Key Points
1. Innovative Ideas - necessary but not sufficient
2. How to Hack Brainstorming and Become More Creative
3. Your turn to brainstorm! The Wire
(with apologies for language) The Best Technology often DOES NOT win!
Microsoft vs. Apple
Betamax vs. VHS Key driver of global economic growth Different type of process than starting a small businessAdvancements can be either … Revolutionary (“brave new world”) Evolutionary/Incremental (“faster, better, cheaper”) 9 Key Models and Frameworks Opportunity Assessment Project (OAP)
Meet with team
Pick an idea
“Get out of the building” for research
Figure out whether it is a business opportunity
Analyze the market/opportunity
Series of team deliverables – 1/22 & 1/27
Project website - document your failures
Positioning statement and presentation
OAP written analysis
15% of your grade Mentors for OAP and OEP
Mentors are venture capitalists or entrepreneurs
Each team is assigned a mentor for the quarter
Mentors role is to:
Assist you with the OAP and OEP Projects
Help you “get you out of the building” for research
Offer “real-world” entrepreneurial advice
Provide the start of social networking with Silicon Valley for you?
Important tips for an optimal experience for all
Please arrange your schedule for the mentors, not the other way around
Please contact the mentor right after being assigned Ticket to introduction to them --> 1 pg. (2 paragraphs) initial opportunity, market, tech., customers
Due Jan. 14th (midnight) at the latest, ungraded, don’t spend too much time on it
Semester is short, get started Ann McCormick Founder and CEO of Learning Friends
founded the Learning Company, served as Chairman of the Board and Lead Designer, shaping the design of the company's first 16 products, including Reader Rabbit and Rocky’s Boots
TLC launched a new category of software and a leading national brand
advisor to education and technology leaders in 15 nations, consulted with Apple Computer, IBM, Northern Telecom
Vice President of VPL, a virtual reality company
Ann wrote textbook chapters and articles on childhood and computing, and appeared on television shows such as the Donahue Show.
Parent's Choice Award, Best Software of the Year from Learning Magazine and Entrepreneur of the Decade from Junior Achievement
Doctorate in Education at the University of California at Berkeley
100th Anniversary Commencement Address Thank you Ann! http://stvp.stanford.edu/teaching/mfp/ http://mitworld.mit.edu/video/262 How to Hack Brainstorming? What are characteristics of good brainstorming sessions? When are you going to use brainstorming in entrepreneurship? Creativity / Brainstorming Takeaways
1.) Creative visionaries / Lead users / talking to customers often a fertile source of ideas
2.) Certain ways of organizing can lead to increased group creativity (plus sales/profits)!
Purpose of creativity in a startup - In how many areas do you want to be doing something new? Brainstorming
1. Capture Ideas
a. Write them down
i. Beware of the tyranny of the pen
ii. Everyone writes
b. Record them Audio
2. Frame the Problem
a. A question contributed?
b. Neither too broad not too narrow
3. Facilitator - separate idea creation from idea screening! In groups of 4:
15 Best Startup Ideas 15 Worst Startup Ideas Create a 3-5 minute ad for your "worst startup idea" turning it into a good idea Successful entrepreneurship = invention + inspired execution What did we learn?
1. E-ship is about seeing problems as opportunities
The bigger the problem, the bigger the opportunity!
2. How to optimize/hack brainstorming
(customers/lead users as fertile source of ideas)
3. Best combination is a creative visionary + operations/execution (hard to do) Electronic Brainstorming and Group Size. R. Brent Gallupe, Alan R. Dennis, William H. Cooper, Joseph S. Valacich, Lana M. Bastianutti, Jay F. Nunamaker, Jr. Source: The Academy of Management Journal, Vol. 35, No. 2 (Jun., 1992), pp. 350-369 Where did the primary idea for the start-up come from? Quick note on venture teams
All engineers or diversity of skills?
Must match the type of venture you're creating