VCF WORKSHOP

Transcription

1 Value Creation LU INNOVATION SYSTEM SVEN OLSSON Disposition VCF WORKSHOP 1. Introduction 2. Business Plan, 5 disciplines 3. Presentation training, NABC 1

2 What is a good idea?» Innovative» Commercial potential» Patentable» Goods or Services?» Hi scientific level» Proximity to the Market» Entrepreneur Not very Important Very important Not very Important Both! Not Important An advantage Can join later Everything starts with an idea Nano robots that clean blood vessels Car tires that never wear out Powder that eliminates contaminations and salt from water Activated nano particles that eliminate virus Bacteria that produce snow 2

3 Communicating Your Idea If you don t communicate your idea to others You don t have anything Business Plan Business Idea Financing Market analysis Business concept Market plan Organization Production Economy 3

4 Business plan Business plan development Must be done in interaction with customers! Concept Innovation plan Venture plan Business plan Inventor Idea Invention Champion Team NABC Value Chain Value propostion GTM plan Goal: Business model POC Goal: Validation First investment by customer Verification funding Staff the company Process Production Goal: Commercialize 4

5 Why do we need a business plan?» Describe goals internally, externally» Answer all kinds of questions» Different target audience» Dynamic document» Helps in the decision-making process Writing a business plan, makes you think through the business idea thoroughly. Five disciplines of innovation 1. Important customer needs 2. Value creation, NABC 3. Innovation Champion 4. Innovation Teams => Success 5. Organizational alignment 5

6 Discipline 1: Important customer needs» Important, not interesting» Customer need, not customer wants» Sense of urgency Interesting ideas Important needs Curtis Carlson: Selecting an important unmet customer and market need at the right time is the critical starting point for all success. Innovation The Five Disciplines for 6

7 Discipline 2: Value creation» Who defines value? THE CUSTOMER! NABC A method developed by SRI to develop a value proposition. Value proposition A compelling answer to the question: - Why will we win? - Why will we succeed? 7

8 Discipline 3: Innovation Champion» Drives the Value Creation process» Assembles and motivates the Innovation Team» Perseveres and drives to success Fail quickly to succeed sooner Ask for ideas before asking for resources Listen and learn Surround yourself with enthusiastic volunteers Thank the thinkers; praise the participants Iterate Discipline 4: Innovation team» Different personalities» Unique, complementary skills» A shared strategic vision» Shared rewards 8

9 Discipline 5: Organization Alignment» Align the team for Success» Align the team with the innovation s goals» and with the organization s goals Five disciplines of innovation 1. Important customer needs 2. Value creation, NABC 3. Innovation Champion 4. Innovation Teams 5. Organizational alignment 9

10 Presenting your idea SVEN OLSSON Pitching the idea» Before you write a Business play» or a project plan» You need to pitch your idea to others» partners, investors, customers. 10

11 The decision process» First an emotional decision» then Cognitive motivation» Nano robots that clean blood vessels» Car tires that never wear out» Powder that eliminates contaminations and salt from water» Activated nano particles that eliminates virus» Bacteria that produce snow» The Elevator Pitch The elevator pitch» Limited amount of time» Seize the opportunity when it comes» Create interest» Communicate the essentials» Give an easy-to-remember summary 11

12 Communicating what?» Business ideas Customers Investors» Applying for funds» Making a scientific speech» Applying for a job» The Elevator Pitch Hook Core Close The Elevator Pitch three parts The Hook - Create interest: Ex. Are you having trouble hearing? You are not alone. More than two thousand ideas have been patented for new mousetraps and only two are really used. Tell a story 12

13 The Elevator Pitch Hook The Core - your Value Proposition Core N A B C Close The Close - What is the request? A new meeting? Funding? Additional partners? A reference to another person?? NABC» Important Need What problem do we solve? Define the playing ground, state of the art Provide facts, scientific background» Our unique Approach How do we solve the problem? What is our approach for addressing the need 13

14 NABC» Benefit per cost What is the user benefit? What is the superior customer value? How does it compare to the cost?» Competition and alternatives Who are the competitors? What alternatives are available? Now? In the future? Pitfalls» Do not concentrate on the approach nabc NabC» Do not just say faster, cheaper, better Be specific and quantitative If you don t know, guess - take a SWAG» Do not forget the Close What do you want to achieve? Next step?» Iterate, iterate, iterate N: What the world needs is a little red wagon A: Our approach is to build a little red wagon B: The benefits are that we will have a little red wagon C: There is no competition, since our wagon is a nice shade of red. 14

15 Creating value» You define you project (what not to do)» You learn how to present What is essential and not What works and not» You will be prepared for odd questions» You learn how people react Different perspectives» Green hat Positive feedback» Red hat Suggestions for improvement (no criticism!)» Glasses Eye of the customer» White hat Investors view 15

16 Giving or Taking Energy» There are persons that make you lose all energy» others that give you energy» How do I become a person that gives energy? Hints» Mention the positive things there is always something» Bring it home to you» Don t use but Use and but 16

17 A process for training» Pitch 4 minutes, NABC» Feedback Positive, Improvements Different perspectives Only listen (No defence)» Do it again That s it 17